Hongfa Technology Co., Ltd. Stock Forecast
Red day on Friday for Hongfa Technology Co., Ltd. stock after losing 0.109%
(Updated on Jun 21, 2024)
The Hongfa Technology Co., Ltd. stock price fell by -0.109% on the last day (Friday, 21st Jun 2024) from $27.61 to $27.58. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.48% from a day low at $27.45 to a day high of $28.13. The price has fallen in 6 of the last 10 days and is down by -8.43% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 4 million shares were bought and sold for approximately $117.03 million.
Given the current short-term trend, the stock is expected to rise 15.34% during the next 3 months and, with a 90% probability hold a price between $31.81 and $36.74 at the end of this 3-month period.
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600885.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Hongfa Technology 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 $28.80 and $28.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -8.68%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hongfa Technology Co., Ltd. stock
Hongfa Technology Co., Ltd. finds support from accumulated volume at $27.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.680 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600885.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Hongfa Technology Co., Ltd. to open at $27.72, and during the day (based on 14 day Average True Range), to move between $26.67 and $28.49, which gives a possible trading interval of +/-$0.91 (+/-3.29%) up or down from last closing price. If Hongfa Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.40 (0.65%) than the resistance at $27.80 (0.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hongfa Technology Co., Ltd. stock A Buy?
The Hongfa Technology Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Hongfa Technology Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.943 Sell Candidate Unchanged
Predicted Opening Price for Hongfa Technology Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $27.72 ( 0.508%) | $27.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600885.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.40 | 2.97% |
| R2 | 28.14 | 2.03% |
| R1 | 27.98 | 1.45% |
| Price | 27.58 | |
| S1 | 27.46 | -0.434% |
| S2 | 27.30 | -1.02% |
| S3 | 27.04 | -1.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.20 | 9.50% |
| R2 | 28.46 | 3.19% |
| R1 | 27.80 | 0.798% |
| Price | 27.58 | |
| S1 | 27.40 | -0.653% |
| S2 | 26.90 | -2.47% |
| S3 | 26.15 | -5.18% |
600885 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jun 20, 2024 | $0.439 | 1.59% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $0.360 | 1.17% |
| 3 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | $0.429 | 1.03% |
| 4 | Apr 21, 2021 | Apr 21, 2021 | Apr 21, 2021 | $0.243 | 0.651% |
| 5 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | $0.207 | 0.732% |
FAQ
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