Founder Technology Group Co.,Ltd. Stock Forecast
Volatile ride for Founder Technology Group Co.,Ltd. stock price on Friday moving between $2.68 and $3.00
(Updated on Jun 28, 2024)
The Founder Technology Group Co.,Ltd. stock price gained 9.89% on the last trading day (Friday, 28th Jun 2024), rising from $2.73 to $3.00. During the last trading day the stock fluctuated 11.94% from a day low at $2.68 to a day high of $3.00. The price has risen in 6 of the last 10 days and is up by 18.58% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 200 million more shares were traded than the day before. In total, 279 million shares were bought and sold for approximately $836.16 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $2.83, a level that may pose a second chance to hit a runner. According to fan-theory $3.20 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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600601.SS Signals & Forecast
Mostly positive signals in the chart today. The Founder Technology Group 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 $2.80 and $2.58. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 25.52%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Founder Technology Group Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $2.81 and $2.78. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Founder Technology Group Co.,Ltd. finds support just below today's level at $2.81. If this is broken, then the next support from accumulated volume will be at $2.78 and $2.53.
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 $0.320 between high and low, or 11.94%. For the last week, the stock has had daily average volatility of 5.74%.
Our recommended stop-loss: $2.90 (-3.48%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (600601.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Founder Technology Group Co.,Ltd. to open at $2.89, and during the day (based on 14 day Average True Range), to move between $2.88 and $3.12, which gives a possible trading interval of +/-$0.119 (+/-3.97%) up or down from last closing price. If Founder Technology Group Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 7.94% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $2.81, some $0.190 (6.33%) from the current price of $3.00, our system finds the risk reward attractive.
Is Founder Technology Group Co.,Ltd. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Founder Technology Group Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.630 Strong Buy Candidate Upgraded
Predicted Opening Price for Founder Technology Group Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.89 ( 3.56%) | $3.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600601.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.21 | 7.11% |
| R2 | 3.09 | 3.04% |
| R1 | 3.02 | 0.519% |
| Price | 3.00 | |
| S1 | 2.77 | -7.63% |
| S2 | 2.70 | -10.15% |
| S3 | 2.57 | -14.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 3.00 | |
| S1 | 2.81 | -6.33% |
| S2 | 2.78 | -7.33% |
| S3 | 2.53 | -15.67% |
600601 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 08, 2019 | Aug 08, 2019 | Aug 08, 2019 | $0.0100 | 0.318% |
| 2 | Aug 10, 2017 | Aug 10, 2017 | Aug 10, 2017 | $0.0100 | 0.263% |
| 3 | Jul 15, 2016 | Jul 15, 2016 | Jul 15, 2016 | $0.0100 | 0.229% |
| 4 | Jul 23, 2015 | Jul 23, 2015 | Jul 23, 2015 | $0.0120 | 0.140% |
| 5 | Aug 21, 2014 | Aug 21, 2014 | Aug 21, 2014 | $0.0100 | 0.235% |
FAQ
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