Sunny Loan Top Co.,Ltd. Stock Forecast
Green day on Wednesday for Sunny Loan Top Co.,Ltd. stock after gaining 3.26%
(Updated on Jul 03, 2024)
The Sunny Loan Top Co.,Ltd. stock price gained 3.26% on the last trading day (Wednesday, 3rd Jul 2024), rising from $7.05 to $7.28. During the last trading day the stock fluctuated 5.77% from a day low at $6.93 to a day high of $7.33. The price has risen in 6 of the last 10 days and is up by 2.39% 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, 12 million more shares were traded than the day before. In total, 42 million shares were bought and sold for approximately $306.01 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 15.68% during the next 3 months and, with a 90% probability hold a price between $7.45 and $9.40 at the end of this 3-month period.
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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 $6.98 and $6.78. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -7.61%. 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).
Support, Risk & Stop-loss for Sunny Loan Top Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.91 and $6.90. 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, Sunny Loan Top Co.,Ltd. finds support just below today's level at $6.91. If this is broken, then the next support from accumulated volume will be at $6.90 and $6.75.
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 $0.400 between high and low, or 5.77%. For the last week, the stock has had daily average volatility of 5.52%.
Our recommended stop-loss: $6.85 (-5.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (600830.SS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Sunny Loan Top Co.,Ltd. to open at $7.18, and during the day (based on 14 day Average True Range), to move between $6.89 and $7.67, which gives a possible trading interval of +/-$0.388 (+/-5.34%) 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 10.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.36 (1.10%) than the support at $6.91 (5.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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.
Current score: 5.232 Strong Buy Candidate Unchanged
Predicted Opening Price for Sunny Loan Top Co.,Ltd. of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| $7.18 ( 1.37%) | $7.28 |
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 | 7.58 | 4.12% |
| R2 | 7.43 | 2.02% |
| R1 | 7.33 | 0.725% |
| Price | 7.28 | |
| S1 | 7.03 | -3.47% |
| S2 | 6.93 | -4.77% |
| S3 | 6.78 | -6.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.88 | 8.24% |
| R2 | 7.71 | 5.91% |
| R1 | 7.36 | 1.10% |
| Price | 7.28 | |
| S1 | 6.91 | -5.08% |
| S2 | 6.90 | -5.22% |
| S3 | 6.75 | -7.28% |
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% |
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