Sunrise Technology Co., Ltd Stock Forecast
Volatile ride for Sunrise Technology Co., Ltd stock price on Tuesday moving between ¥14.22 and ¥16.70
(Updated on Jun 18, 2024)
The Sunrise Technology Co., Ltd stock price gained 10.88% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥14.71 to ¥16.31. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 17.44% from a day low at ¥14.22 to a day high of ¥16.70. The price has risen in 8 of the last 10 days and is up by 12.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 million more shares were traded than the day before. In total, 46 million shares were bought and sold for approximately ¥751.07 million.
Given the current short-term trend, the stock is expected to fall -6.23% during the next 3 months and, with a 90% probability hold a price between ¥11.86 and ¥15.29 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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300360.SZ Signals & Forecast
The Sunrise Technology Co., Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥14.57 and ¥15.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 21.72%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sunrise Technology Co., Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥15.46 and ¥15.01. 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, Sunrise Technology Co., Ltd finds support just below today's level at ¥15.46. If this is broken, then the next support from accumulated volume will be at ¥15.01 and ¥14.73.
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 ¥2.48 between high and low, or 17.44%. For the last week, the stock has had daily average volatility of 5.83%.
Since the Sunrise Technology Co., Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥15.69 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (300360.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Sunrise Technology Co., Ltd to open at ¥15.74, and during the day (based on 14 day Average True Range), to move between ¥15.46 and ¥17.16, which gives a possible trading interval of +/-¥0.85 (+/-5.20%) up or down from last closing price. If Sunrise Technology Co., Ltd takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥16.48 (1.04%) than the support at ¥15.46 (5.21%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Sunrise Technology Co., Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.395 Buy Candidate Upgraded
Predicted Opening Price for Sunrise Technology Co., Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥15.74 ( 3.47%) | ¥16.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300360.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.22 | 11.73% |
| R2 | 17.28 | 5.92% |
| R1 | 16.69 | 2.33% |
| Price | 16.31 | |
| S1 | 14.80 | -9.28% |
| S2 | 14.21 | -12.87% |
| S3 | 13.26 | -18.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.92 | 3.74% |
| R2 | 16.55 | 1.47% |
| R1 | 16.48 | 1.04% |
| Price | 16.31 | |
| S1 | 15.46 | -5.21% |
| S2 | 15.01 | -7.97% |
| S3 | 14.73 | -9.69% |
300360 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 20, 2024 | ¥0.500 | 3.26% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.200 | 1.17% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.150 | 1.49% |
| 4 | May 14, 2021 | May 14, 2021 | May 14, 2021 | ¥0.150 | 1.97% |
| 5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.154 | 1.84% |
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