Foshan Golden Milky Way Intelligent Stock Forecast
Evaluation of Foshan Golden Milky Way Intelligent stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Foshan Golden Milky Way Intelligent stock price fell by -1.58% on the last day (Friday, 28th Jun 2024) from ¥24.63 to ¥24.24. During the last trading day the stock fluctuated 4.08% from a day low at ¥24.00 to a day high of ¥24.98. The price has fallen in 8 of the last 10 days and is down by -34.13% for this period. 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 -346 shares and in total, 1 million shares were bought and sold for approximately ¥25.00 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥23.58 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -35.57% during the next 3 months and, with a 90% probability hold a price between ¥15.19 and ¥20.15 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300619.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Foshan Golden Milky Way Intelligent stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥24.93 and ¥34.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -45.36%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Foshan Golden Milky Way Intelligent stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.98 between high and low, or 4.08%. For the last week, the stock has had daily average volatility of 5.44%.
Foshan Golden Milky Way Intelligent is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300619.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Foshan Golden Milky Way Intelligent Equipment Co., Ltd. to open at ¥24.41, and during the day (based on 14 day Average True Range), to move between ¥22.15 and ¥26.33, which gives a possible trading interval of +/-¥2.09 (+/-8.63%) up or down from last closing price. If Foshan Golden Milky Way Intelligent Equipment Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.26% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥24.63, some ¥0.390 (1.61%) from the current price of ¥24.24, our system finds the risk reward not very attractive.
Is Foshan Golden Milky Way Intelligent Equipment Co., Ltd. stock A Buy?
Foshan Golden Milky Way Intelligent holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.467 Strong Sell Candidate Downgraded
Predicted Opening Price for Foshan Golden Milky Way Intelligent Equipment Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥24.41 ( 0.688%) | ¥24.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300619.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.39 | 4.73% |
| R2 | 25.01 | 3.19% |
| R1 | 24.78 | 2.23% |
| Price | 24.24 | |
| S1 | 24.03 | -0.86% |
| S2 | 23.80 | -1.81% |
| S3 | 23.43 | -3.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.92 | 6.93% |
| R2 | 25.46 | 5.03% |
| R1 | 24.63 | 1.61% |
| Price | 24.24 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
300619 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | ¥0.273 | 0.99% |
| 2 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | ¥0.0800 | 0.164% |
| 3 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | ¥0.0400 | 0.0625% |
| 4 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | ¥0.0200 | 0.111% |
| 5 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.0560 | 0.349% |
FAQ
Click here for our free guide on how to buy Foshan Golden Milky Way Intelligent Equipment Co., Ltd. Stock.
