Fuchun Technology Co Ltd Stock Forecast
Stronger technical forecast for Fuchun Technology Co Ltd stock price after Monday trading.
(Updated on May 20, 2024)
The Fuchun Technology Co Ltd stock price fell by -0.725% on the last day (Monday, 20th May 2024) from ¥4.14 to ¥4.11. During the last trading day the stock fluctuated 3.44% from a day low at ¥4.07 to a day high of ¥4.21. The price has been going up and down for this period, and there has been a -5.3% loss for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately ¥64.18 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.88% during the next 3 months and, with a 90% probability hold a price between ¥2.69 and ¥3.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 12.91%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ¥4.36. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Fuchun Technology Co Ltd stock
Fuchun Technology Co Ltd finds support from accumulated volume at ¥4.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.140 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 5.24%.
Our recommended stop-loss: ¥3.99 (-3.00%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (300299.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Fuchun Technology Co Ltd to open at ¥4.13, and during the day (based on 14 day Average True Range), to move between ¥3.82 and ¥4.40, which gives a possible trading interval of +/-¥0.289 (+/-7.02%) 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 14.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.10 (0.24%) than the resistance at ¥4.56 (10.95%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.406 Hold/Accumulate Upgraded
Predicted Opening Price for Fuchun Technology Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥4.13 ( 0.487%) | ¥4.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300299.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.27 | 3.89 % | |
| R2 | 4.22 | 2.59 % | ||
| R1 | 4.18 | 1.79 % | ||
| Current price: | 4.11 | |||
| Support | S1 | 4.08 | -0.81 % | |
| S2 | 4.04 | -1.62 % | ||
| S3 | 3.99 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.79 | 16.55 % | |
| R2 | 4.72 | 14.84 % | ||
| R1 | 4.56 | 10.95 % | ||
| Current price | 4.11 | |||
| Support | S1 | 4.10 | -0.243% | |
| S2 | 4.08 | -0.730% | ||
| S3 | 3.64 | -11.44% |
300299 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 26, 2019 | Aug 26, 2019 | Aug 26, 2019 | ¥0.0100 | 0.196% |
| 2 | Jul 19, 2017 | Jul 19, 2017 | Jul 19, 2017 | ¥0.0410 | 0.448% |
| 3 | Jun 17, 2016 | Jun 17, 2016 | Jun 17, 2016 | ¥0.0256 | 0.183% |
| 4 | May 04, 2015 | May 04, 2015 | May 04, 2015 | ¥0.0342 | 0.202% |
| 5 | May 23, 2014 | May 23, 2014 | May 23, 2014 | ¥0.0034 | 0.110% |
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