Shandong Sito Bio-technology Co., Ltd. Stock Forecast
Green day on Friday for Shandong Sito Bio-technology Co., Ltd.
(Updated on Jun 21, 2024)
The Shandong Sito Bio-technology Co., Ltd. stock price gained 0.642% on the last trading day (Friday, 21st Jun 2024), rising from ¥12.46 to ¥12.54. During the last trading day the stock fluctuated 4.93% from a day low at ¥12.17 to a day high of ¥12.77. The price has been going up and down for this period, and there has been a 0.64% gain for the last 2 weeks. Volume fell on the last day by -677 thousand shares and in total, 2 million shares were bought and sold for approximately ¥19.34 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -14.50% during the next 3 months and, with a 90% probability hold a price between ¥8.57 and ¥13.47 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300583.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 4.15%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shandong Sito Bio-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 ¥13.76. On a fall, the stock will find some support from the short-term average at ¥12.49. 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.
A buy signal from a double bottom formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should go up by 57.89% to ¥19.80 within 34 trading days since signal was issued (Monday, July 29, 2024).
Support, Risk & Stop-loss for Shandong Sito Bio-technology Co., Ltd. stock
Shandong Sito Bio-technology Co., Ltd. finds support from accumulated volume at ¥12.46 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 ¥0.600 between high and low, or 4.93%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300583.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Shandong Sito Bio-technology Co., Ltd. to open at ¥12.49, and during the day (based on 14 day Average True Range), to move between ¥11.79 and ¥13.29, which gives a possible trading interval of +/-¥0.749 (+/-5.98%) up or down from last closing price. If Shandong Sito Bio-technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.46 (0.64%) than the resistance at ¥14.86 (18.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shandong Sito Bio-technology Co., Ltd. stock A Buy?
Shandong Sito Bio-technology Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.844 Sell Candidate Unchanged
Predicted Opening Price for Shandong Sito Bio-technology Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥12.49 ( 0.372%) | ¥12.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300583.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.09 | 4.41% |
| R2 | 12.86 | 2.58% |
| R1 | 12.72 | 1.46% |
| Price | 12.54 | |
| S1 | 12.26 | -2.20% |
| S2 | 12.12 | -3.33% |
| S3 | 11.89 | -5.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.59 | 24.32% |
| R2 | 15.47 | 23.37% |
| R1 | 14.86 | 18.50% |
| Price | 12.54 | |
| S1 | 12.46 | -0.638% |
| S2 | 12.04 | -3.99% |
| S3 | 12.00 | -4.31% |
300583 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.0150 | 0.0959% |
| 2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | ¥0.0150 | 0.106% |
| 3 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | ¥0.0520 | 0.300% |
| 4 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.140 | 0.707% |
| 5 | Jun 28, 2018 | Jun 28, 2018 | Jun 28, 2018 | ¥0.100 | 0.385% |
FAQ
Click here for our free guide on how to buy Shandong Sito Bio-technology Co., Ltd. Stock.
