Fuchun Technology Co Ltd Stock Forecast

Fuchun Technology Co Ltd stock price up 4.25% on Monday
(Updated on Apr 29, 2024)

300299.SZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 21.43%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Fuchun Technology Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.68. On a fall, the stock will find some support from the short-term average at ¥4.10. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Fuchun Technology Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥4.16 and ¥4.11. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Fuchun Technology Co Ltd finds support just below today's level at ¥4.16. If this is broken, then the next support from accumulated volume will be at ¥4.11 and ¥3.55.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.340 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 5.29%.

Our recommended stop-loss: ¥4.24 (-4.16%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (300299.SZ) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Fuchun Technology Co Ltd to open at ¥4.31, and during the day (based on 14 day Average True Range), to move between ¥4.05 and ¥4.79, which gives a possible trading interval of +/-¥0.367 (+/-8.29%) up or down from last closing price. If Fuchun Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 16.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥4.16 (5.88%) than the resistance at ¥4.72 (6.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Fuchun Technology Co Ltd stock A Buy?

Fuchun Technology Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.798 Hold/Accumulate Unchanged

Predicted Opening Price for Fuchun Technology Co Ltd of Tuesday, April 30, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.