Fujian Yongfu Power Engineering Co Ltd Stock Forecast
High volatility in Fujian Yongfu Power Engineering Co Ltd stock price on Tuesday which ended trading at ¥21.62
(Updated on Apr 16, 2024)
The Fujian Yongfu Power Engineering Co Ltd stock price fell by -8.12% on the last day (Tuesday, 16th Apr 2024) from ¥23.53 to ¥21.62. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 13.44% from a day low at ¥21.51 to a day high of ¥24.40. The price has fallen in 8 of the last 10 days and is down by -12.15% 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 -234 thousand shares and in total, 3 million shares were bought and sold for approximately ¥66.11 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 26.15% during the next 3 months and, with a 90% probability hold a price between ¥25.24 and ¥35.19 at the end of this 3-month period.
300712.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Fujian Yongfu Power Engineering 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 ¥24.19 and ¥23.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 19, 2024, and so far it has fallen -17.16%. 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 Fujian Yongfu Power Engineering Co Ltd stock
Fujian Yongfu Power Engineering Co Ltd finds support from accumulated volume at ¥20.90 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 ¥2.89 between high and low, or 13.44%. For the last week, the stock has had daily average volatility of 8.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300712.SZ) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Fujian Yongfu Power Engineering Co Ltd to open at ¥22.51, and during the day (based on 14 day Average True Range), to move between ¥20.18 and ¥23.06, which gives a possible trading interval of +/-¥1.44 (+/-6.68%) up or down from last closing price. If Fujian Yongfu Power Engineering Co Ltd takes out the full calculated possible swing range there will be an estimated 13.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.90 (3.33%) than the resistance at ¥24.56 (13.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fujian Yongfu Power Engineering Co Ltd stock A Buy?
The Fujian Yongfu Power Engineering Co Ltd stock holds several negative signals and despite the positive trend, we believe Fujian Yongfu Power Engineering Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.365 Sell Candidate Unchanged
Predicted Opening Price for Fujian Yongfu Power Engineering Co Ltd of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| ¥22.51 ( 4.12%) | ¥21.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300712.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.40 | 17.48 % | |
| R2 | 24.30 | 12.38 % | ||
| R1 | 23.61 | 9.22 % | ||
| Current price: | 21.62 | |||
| Support | S1 | 21.41 | -0.99 % | |
| S2 | 20.72 | -4.14 % | ||
| S3 | 19.62 | -9.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.75 | 19.10 % | |
| R2 | 25.14 | 16.28 % | ||
| R1 | 24.56 | 13.60 % | ||
| Current price | 21.62 | |||
| Support | S1 | 20.90 | -3.33% | |
| S2 | 20.52 | -5.09% | ||
| S3 | 18.30 | -15.36% |
300712 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.100 | 0.292% |
| 2 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | ¥0.0983 | 0.171% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.100 | 0.139% |
| 4 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | ¥0.100 | 0.713% |
| 5 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | ¥0.100 | 0.90% |
FAQ
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