Shanghai Fullhan Microelectronics Co Ltd Stock Forecast
Red day on Tuesday for Shanghai Fullhan Microelectronics Co Ltd stock after losing 0.276%
(Updated on May 07, 2024)
The Shanghai Fullhan Microelectronics Co Ltd stock price fell by -0.276% on the last day (Tuesday, 7th May 2024) from ¥32.62 to ¥32.53. During the last trading day the stock fluctuated 2.42% from a day low at ¥32.23 to a day high of ¥33.01. The price has been going up and down for this period, and there has been a 0.71% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -866 thousand shares and in total, 2 million shares were bought and sold for approximately ¥61.74 million.
The stock lies in the middle of a 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 -8.94% during the next 3 months and, with a 90% probability hold a price between ¥27.13 and ¥32.18 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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300613.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 8.04%. 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 Shanghai Fullhan Microelectronics 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 ¥33.44. On a fall, the stock will find some support from the short-term average at ¥32.06. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shanghai Fullhan Microelectronics Co Ltd stock
Shanghai Fullhan Microelectronics Co Ltd finds support from accumulated volume at ¥31.93 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 ¥0.780 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300613.SZ) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Shanghai Fullhan Microelectronics Co Ltd to open at ¥32.59, and during the day (based on 14 day Average True Range), to move between ¥30.66 and ¥34.40, which gives a possible trading interval of +/-¥1.87 (+/-5.73%) up or down from last closing price. If Shanghai Fullhan Microelectronics Co Ltd takes out the full calculated possible swing range there will be an estimated 11.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥32.89 (1.11%) than the support at ¥31.93 (1.84%), 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 Shanghai Fullhan Microelectronics Co Ltd stock A Buy?
Shanghai Fullhan Microelectronics 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: -1.129 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Fullhan Microelectronics Co Ltd of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ¥32.59 ( 0.184%) | ¥32.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300613.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.37 | 2.58 % | |
| R2 | 33.07 | 1.67 % | ||
| R1 | 32.89 | 1.10 % | ||
| Current price: | 32.53 | |||
| Support | S1 | 32.29 | -0.732 % | |
| S2 | 32.11 | -1.30 % | ||
| S3 | 31.81 | -2.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34.00 | 4.52 % | |
| R2 | 32.90 | 1.14 % | ||
| R1 | 32.89 | 1.11 % | ||
| Current price | 32.53 | |||
| Support | S1 | 31.93 | -1.84% | |
| S2 | 31.22 | -4.03% | ||
| S3 | 30.11 | -7.44% |
300613 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | ¥0.180 | 0.273% |
| 2 | May 26, 2022 | May 26, 2022 | May 26, 2022 | ¥0.310 | 0.512% |
| 3 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | ¥0.0386 | 0.0598% |
| 4 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | ¥0.0361 | 0.102% |
| 5 | May 09, 2019 | May 09, 2019 | May 09, 2019 | ¥0.0244 | 0.147% |
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