Fujian Dongbai (Group) Co.,Ltd. Stock Forecast
Fujian Dongbai (Group) Co.,Ltd. stock price ended at $2.81 on Friday, after gaining 0.717%.
(Updated on Jun 28, 2024)
The Fujian Dongbai (Group) Co.,Ltd. stock price gained 0.717% on the last trading day (Friday, 28th Jun 2024), rising from $2.79 to $2.81. During the last trading day the stock fluctuated 2.15% from a day low at $2.79 to a day high of $2.85. The price has fallen in 6 of the last 10 days and is down by -6.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 104 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $11.08 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -17.46% during the next 3 months and, with a 90% probability hold a price between $2.22 and $2.62 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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600693.SS Signals & Forecast
There are mixed signals in the stock today. The Fujian Dongbai (Group) Co.,Ltd. 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 $2.82 and $3.14. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 2.93%. 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 Fujian Dongbai (Group) Co.,Ltd. stock
Fujian Dongbai (Group) Co.,Ltd. finds support from accumulated volume at $2.80 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 $0.0600 between high and low, or 2.15%. For the last week, the stock has had daily average volatility of 3.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600693.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Fujian Dongbai (Group) Co.,Ltd. to open at $2.82, and during the day (based on 14 day Average True Range), to move between $2.72 and $2.90, which gives a possible trading interval of +/-$0.0949 (+/-3.38%) up or down from last closing price. If Fujian Dongbai (Group) Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.80 (0.36%) than the resistance at $3.06 (8.90%), 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 Dongbai (Group) Co.,Ltd. stock A Buy?
Fujian Dongbai (Group) Co.,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.444 Sell Candidate Unchanged
Predicted Opening Price for Fujian Dongbai (Group) Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $2.82 ( 0.237%) | $2.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600693.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.88 | 2.37% |
| R2 | 2.85 | 1.56% |
| R1 | 2.84 | 1.05% |
| Price | 2.81 | |
| S1 | 2.79 | -0.578% |
| S2 | 2.78 | -1.08% |
| S3 | 2.76 | -1.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.46 | 23.13% |
| R2 | 3.42 | 21.71% |
| R1 | 3.06 | 8.90% |
| Price | 2.81 | |
| S1 | 2.80 | -0.356% |
| S2 | 2.79 | -0.712% |
| S3 | 2.73 | -2.85% |
600693 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | $0.0500 | 1.27% |
| 2 | May 17, 2018 | May 17, 2018 | May 17, 2018 | $0.100 | 1.57% |
| 3 | Jun 05, 2015 | Jun 05, 2015 | Jun 05, 2015 | $0.100 | 1.23% |
| 4 | Jun 29, 2012 | Jun 29, 2012 | Jun 29, 2012 | $0.0750 | 2.08% |
| 5 | Jun 08, 2009 | Jun 08, 2009 | Jun 08, 2009 | $0.0577 | 1.34% |
FAQ
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