Fuyao Glass Industry Group Co., Ltd. Stock Forecast
Green day on Friday for Fuyao Glass Industry Group Co., Ltd. stock after gaining 0.95%
(Updated on Jun 28, 2024)
The Fuyao Glass Industry Group Co., Ltd. stock price gained 0.95% on the last trading day (Friday, 28th Jun 2024), rising from $47.45 to $47.90. During the last trading day the stock fluctuated 1.22% from a day low at $47.42 to a day high of $48.00. The price has been going up and down for this period, and there has been a 2.57% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 540 thousand more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $627.07 million.
The stock lies in the middle of a 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 2.88% during the next 3 months and, with a 90% probability hold a price between $46.60 and $54.05 at the end of this 3-month period.
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600660.SS Signals & Forecast
Mostly positive signals in the chart today. The Fuyao Glass Industry Group Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.43 and $47.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 6.04%. 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 Fuyao Glass Industry Group Co., Ltd. stock
Fuyao Glass Industry Group Co., Ltd. finds support from accumulated volume at $47.71 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.580 between high and low, or 1.22%. For the last week the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $45.82 (-4.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)
Trading Expectations (600660.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Fuyao Glass Industry Group Co., Ltd. to open at $47.77, and during the day (based on 14 day Average True Range), to move between $46.84 and $48.96, which gives a possible trading interval of +/-$1.06 (+/-2.21%) up or down from last closing price. If Fuyao Glass Industry Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $47.71 (0.40%) than the resistance at $49.23 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fuyao Glass Industry Group Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Fuyao Glass Industry Group Co., Ltd. stock to perform well in the short-term.
Current score: 3.576 Buy Candidate Unchanged
Predicted Opening Price for Fuyao Glass Industry Group Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $47.77 ( 0.264%) | $47.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600660.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 48.35 | 0.95% |
| R2 | 48.13 | 0.484% |
| R1 | 47.99 | 0.198% |
| Price | 47.90 | |
| S1 | 47.55 | -0.727% |
| S2 | 47.41 | -1.01% |
| S3 | 47.19 | -1.48% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.54 | 5.51% |
| R2 | 49.83 | 4.03% |
| R1 | 49.23 | 2.78% |
| Price | 47.90 | |
| S1 | 47.71 | -0.397% |
| S2 | 47.45 | -0.94% |
| S3 | 46.90 | -2.09% |
600660 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | $1.30 | 2.72% |
| 2 | May 18, 2023 | May 18, 2023 | May 18, 2023 | $1.25 | 3.77% |
| 3 | May 19, 2022 | May 19, 2022 | May 19, 2022 | $1.00 | 2.74% |
| 4 | Jul 01, 2021 | Jul 01, 2021 | Jul 01, 2021 | $0.750 | 1.38% |
| 5 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | $0.750 | 3.05% |
FAQ
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