Sunny Loan Top Co.,Ltd. Stock Forecast
Sunny Loan Top Co.,Ltd. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Sunny Loan Top Co.,Ltd. stock price gained 2.03% on the last trading day (Tuesday, 2nd Jul 2024), rising from $6.91 to $7.05. During the last trading day the stock fluctuated 3.94% from a day low at $6.85 to a day high of $7.12. The price has been going up and down for this period, and there has been a -8.8% loss 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, 3 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately $208.85 million.
The stock lies in the middle of a very wide and strong 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 14.41% during the next 3 months and, with a 90% probability hold a price between $7.31 and $9.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
600830.SS Signals & Forecast
The Sunny Loan Top 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 $6.89 and $6.76. 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 7.31%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sunny Loan Top Co.,Ltd. stock
Sunny Loan Top Co.,Ltd. finds support from accumulated volume at $6.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.270 between high and low, or 3.94%. For the last week, the stock has had daily average volatility of 5.50%.
Our recommended stop-loss: $6.71 (-4.89%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (600830.SS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sunny Loan Top Co.,Ltd. to open at $7.01, and during the day (based on 14 day Average True Range), to move between $6.66 and $7.44, which gives a possible trading interval of +/-$0.388 (+/-5.50%) up or down from last closing price. If Sunny Loan Top Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 10.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.91 (1.99%) than the resistance at $7.36 (4.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sunny Loan Top Co.,Ltd. stock A Buy?
Sunny Loan Top Co.,Ltd. holds several positive signals and is within a strong 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.551 Strong Buy Candidate Upgraded
Predicted Opening Price for Sunny Loan Top Co.,Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $7.01 ( 0.615%) | $7.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600830.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.28 | 3.22% |
| R2 | 7.17 | 1.75% |
| R1 | 7.11 | 0.85% |
| Price | 7.05 | |
| S1 | 6.90 | -2.08% |
| S2 | 6.84 | -2.98% |
| S3 | 6.74 | -4.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.88 | 11.77% |
| R2 | 7.71 | 9.36% |
| R1 | 7.36 | 4.40% |
| Price | 7.05 | |
| S1 | 6.91 | -1.99% |
| S2 | 6.90 | -2.13% |
| S3 | 6.75 | -4.26% |
600830 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | May 31, 2024 | $0.0150 | 0.242% |
| 2 | Jun 06, 2023 | Jun 06, 2023 | Jun 06, 2023 | $0.0100 | 0.166% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | $0.0110 | 0.194% |
| 4 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | $0.0200 | 0.328% |
| 5 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | $0.0600 | 0.93% |
FAQ
Click here for our free guide on how to buy Sunny Loan Top Co.,Ltd. Stock.
