Sinofibers Technology Co Ltd Stock Forecast
Big movements in Sinofibers Technology Co Ltd stock price on Friday moving 10.21% between high and low
(Updated on May 17, 2024)
The Sinofibers Technology Co Ltd stock price gained 1.77% on the last trading day (Friday, 17th May 2024), rising from ¥28.25 to ¥28.75. It has now gained 3 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 10.21% from a day low at ¥26.45 to a day high of ¥29.15. The price has risen in 7 of the last 10 days and is up by 16.73% over the past 2 weeks. Volume fell on the last day by -594 thousand shares and in total, 16 million shares were bought and sold for approximately ¥472.38 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 in the middle of a very wide and weak 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 8.60% during the next 3 months and, with a 90% probability hold a price between ¥25.34 and ¥35.93 at the end of this 3-month period.
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300777.SZ Signals & Forecast
Mostly positive signals in the chart today. The Sinofibers Technology Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥27.27 and ¥26.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 28.12%. 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). 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.
Support, Risk & Stop-loss for Sinofibers Technology Co Ltd stock
Sinofibers Technology Co Ltd finds support from accumulated volume at ¥27.48 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 ¥2.70 between high and low, or 10.21%. For the last week, the stock has had daily average volatility of 6.87%.
Our recommended stop-loss: ¥27.29 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (300777.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sinofibers Technology Co Ltd to open at ¥28.12, and during the day (based on 14 day Average True Range), to move between ¥27.01 and ¥30.49, which gives a possible trading interval of +/-¥1.74 (+/-6.05%) up or down from last closing price. If Sinofibers Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 12.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥28.95 (0.70%) than the support at ¥27.48 (4.42%), 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 Sinofibers Technology Co Ltd stock A Buy?
Sinofibers Technology Co Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.090 Strong Buy Candidate Unchanged
Predicted Opening Price for Sinofibers Technology Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥28.12 ( 2.20%) | ¥28.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300777.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.82 | 7.19 % | |
| R2 | 29.79 | 3.60 % | ||
| R1 | 29.15 | 1.38 % | ||
| Current price: | 28.75 | |||
| Support | S1 | 27.09 | -5.79 % | |
| S2 | 26.45 | -8.01 % | ||
| S3 | 25.42 | -11.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.71 | 10.30 % | |
| R2 | 30.98 | 7.76 % | ||
| R1 | 28.95 | 0.696 % | ||
| Current price | 28.75 | |||
| Support | S1 | 27.48 | -4.42% | |
| S2 | 27.37 | -4.80% | ||
| S3 | 26.31 | -8.49% |
300777 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.250 | 0.552% |
| 2 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.0830 | 0.183% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.105 | 0.215% |
| 4 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | ¥0.0690 | 0.228% |
FAQ
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