SinoDaan Co Ltd Stock Forecast
Green day on Friday for SinoDaan Co Ltd
(Updated on May 17, 2024)
The SinoDaan Co Ltd stock price gained 0.437% on the last trading day (Friday, 17th May 2024), rising from ¥9.16 to ¥9.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.80% from a day low at ¥8.95 to a day high of ¥9.29. The price has risen in 6 of the last 10 days and is up by 8.11% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately ¥31.41 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 the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ¥9.69 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -8.09% during the next 3 months and, with a 90% probability hold a price between ¥6.31 and ¥8.91 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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300635.SZ Signals & Forecast
The SinoDaan 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 ¥8.84 and ¥8.87. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.755%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SinoDaan Co Ltd stock
SinoDaan Co Ltd finds support from accumulated volume at ¥8.99 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 ¥0.340 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 5.54%.
Our recommended stop-loss: ¥8.89 (-3.42%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (300635.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SinoDaan Co Ltd to open at ¥9.15, and during the day (based on 14 day Average True Range), to move between ¥8.57 and ¥9.83, which gives a possible trading interval of +/-¥0.634 (+/-6.89%) up or down from last closing price. If SinoDaan Co Ltd takes out the full calculated possible swing range there will be an estimated 13.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.29 (0.98%) than the support at ¥8.99 (2.28%), 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 SinoDaan 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.
Current score: 2.009 Buy Candidate Unchanged
Predicted Opening Price for SinoDaan Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥9.15 ( 0.580%) | ¥9.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300635.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.49 | 3.12 % | |
| R2 | 9.36 | 1.70 % | ||
| R1 | 9.28 | 0.83 % | ||
| Current price: | 9.20 | |||
| Support | S1 | 9.02 | -1.99 % | |
| S2 | 8.94 | -2.86 % | ||
| S3 | 8.81 | -4.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.64 | 4.78 % | |
| R2 | 9.53 | 3.59 % | ||
| R1 | 9.29 | 0.98 % | ||
| Current price | 9.20 | |||
| Support | S1 | 8.99 | -2.28% | |
| S2 | 8.92 | -3.04% | ||
| S3 | 8.15 | -11.41% |
300635 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | ¥0.0250 | 0.131% |
| 2 | Jun 02, 2021 | Jun 02, 2021 | Jun 02, 2021 | ¥0.0220 | 0.117% |
| 3 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.0450 | 0.149% |
| 4 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | ¥0.0410 | 0.268% |
| 5 | May 08, 2018 | May 08, 2018 | May 08, 2018 | ¥0.0390 | 0.202% |
FAQ
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