Konfoong Materials International Co Ltd Stock Forecast
Konfoong Materials International Co Ltd stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The Konfoong Materials International Co Ltd stock price fell by -4.28% on the last day (Tuesday, 25th Jun 2024) from ¥49.57 to ¥47.45. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 8.20% from a day low at ¥46.95 to a day high of ¥50.80. The price has fallen in 7 of the last 10 days and is down by -2.89% for this period. Volume has increased on the last day by 872 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 8 million shares were bought and sold for approximately ¥376.64 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥46.51 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.97% during the next 3 months and, with a 90% probability hold a price between ¥53.94 and ¥62.13 at the end of this 3-month period.
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300666.SZ Signals & Forecast
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 Konfoong Materials International Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥50.25 and ¥47.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -9.46%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Konfoong Materials International Co Ltd stock
Konfoong Materials International Co Ltd finds support from accumulated volume at ¥47.07 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 ¥3.85 between high and low, or 8.20%. For the last week, the stock has had daily average volatility of 5.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300666.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Konfoong Materials International Co Ltd to open at ¥48.40, and during the day (based on 14 day Average True Range), to move between ¥44.93 and ¥49.97, which gives a possible trading interval of +/-¥2.52 (+/-5.30%) up or down from last closing price. If Konfoong Materials International Co Ltd takes out the full calculated possible swing range there will be an estimated 10.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥47.07 (0.80%) than the resistance at ¥49.86 (5.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Konfoong Materials International Co Ltd stock A Buy?
The Konfoong Materials International Co Ltd stock holds several negative signals and despite the positive trend, we believe Konfoong Materials International Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -2.004 Sell Candidate Downgraded
Predicted Opening Price for Konfoong Materials International Co Ltd of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥48.40 ( 2.00%) | ¥47.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300666.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 52.25 | 10.12% |
| R2 | 50.78 | 7.02% |
| R1 | 49.87 | 5.10% |
| Price | 47.45 | |
| S1 | 46.93 | -1.10% |
| S2 | 46.02 | -3.01% |
| S3 | 44.55 | -6.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 52.41 | 10.45% |
| R2 | 50.61 | 6.66% |
| R1 | 49.86 | 5.08% |
| Price | 47.45 | |
| S1 | 47.07 | -0.80% |
| S2 | 46.60 | -1.79% |
| S3 | 46.58 | -1.83% |
300666 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2024 | Jun 07, 2024 | Jun 07, 2024 | ¥0.200 | 0.409% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.206 | 0.282% |
| 3 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | ¥0.0969 | 0.167% |
| 4 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.136 | 0.314% |
| 5 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.0588 | 0.0935% |
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