Poly Developments and Holdings Group Stock Forecast
Poly Developments and Holdings Group stock price down 2.92% on Thursday
(Updated on Jun 27, 2024)
The Poly Developments and Holdings Group stock price fell by -2.92% on the last day (Thursday, 27th Jun 2024) from $9.24 to $8.97. During the last trading day the stock fluctuated 4.02% from a day low at $8.96 to a day high of $9.32. The price has fallen in 7 of the last 10 days and is down by -9.03% for this period. Volume has increased on the last day by 26 million 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, 97 million shares were bought and sold for approximately $867.13 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $9.53. A reaction back to this level may hold a second chance to get out before further falls.
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600048.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Poly Developments and Holdings Group 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 $9.33 and $10.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -20.48%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Poly Developments and Holdings Group stock
Poly Developments and Holdings Group finds support from accumulated volume at $8.83 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 $0.360 between high and low, or 4.02%. For the last week, the stock has had daily average volatility of 2.94%.
Poly Developments and Holdings Group is oversold on RSI14 (20). 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 (600048.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Poly Developments and Holdings Group Co., Ltd. to open at $9.08, and during the day (based on 14 day Average True Range), to move between $8.62 and $9.32, which gives a possible trading interval of +/-$0.352 (+/-3.93%) up or down from last closing price. If Poly Developments and Holdings Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.83 (1.56%) than the resistance at $9.28 (3.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Poly Developments and Holdings Group Co., Ltd. stock A Buy?
The Poly Developments and Holdings Group stock holds several negative signals and despite the positive trend, we believe Poly Developments and Holdings Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.180 Sell Candidate Unchanged
Predicted Opening Price for Poly Developments and Holdings Group Co., Ltd. of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
$9.08 ( 1.26%) | $8.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600048.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.44 | 5.28% |
R2 | 9.31 | 3.74% |
R1 | 9.22 | 2.80% |
Price | 8.97 | |
S1 | 8.95 | -0.270% |
S2 | 8.86 | -1.22% |
S3 | 8.72 | -2.75% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.20 | 24.86% |
R2 | 11.08 | 23.52% |
R1 | 9.28 | 3.46% |
Price | 8.97 | |
S1 | 8.83 | -1.56% |
S2 | 8.64 | -3.68% |
S3 | 8.00 | -10.81% |
600048 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | $0.450 | 3.36% |
2 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | $0.580 | 3.58% |
3 | Aug 16, 2021 | Aug 16, 2021 | Aug 16, 2021 | $0.730 | 6.17% |
4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | $0.82 | 5.71% |
5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | $0.500 | 4.04% |
FAQ
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