Changshu Fengfan Power Equipment Co., Stock Forecast
Changshu Fengfan Power Equipment Co., stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Changshu Fengfan Power Equipment Co., stock price fell by -0.224% on the last day (Friday, 21st Jun 2024) from $4.46 to $4.45. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.49% from a day low at $4.42 to a day high of $4.53. The price has fallen in 5 of the last 10 days and is down by -1.98% 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 -980 thousand shares and in total, 6 million shares were bought and sold for approximately $26.52 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $4.31 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.04% during the next 3 months and, with a 90% probability hold a price between $4.57 and $5.44 at the end of this 3-month period.
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601700.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Changshu Fengfan Power Equipment Co., 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 $4.59 and $4.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -11.88%. 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 Changshu Fengfan Power Equipment Co., stock
Changshu Fengfan Power Equipment Co., finds support from accumulated volume at $4.43 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 $0.110 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 3.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601700.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Changshu Fengfan Power Equipment Co., Ltd. to open at $4.47, and during the day (based on 14 day Average True Range), to move between $4.30 and $4.60, which gives a possible trading interval of +/-$0.146 (+/-3.27%) up or down from last closing price. If Changshu Fengfan Power Equipment Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $4.43 (0.45%) than the resistance at $4.84 (8.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Changshu Fengfan Power Equipment Co., Ltd. stock A Buy?
The Changshu Fengfan Power Equipment Co., stock holds several negative signals and despite the positive trend, we believe Changshu Fengfan Power Equipment Co., will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.026 Sell Candidate Downgraded
Predicted Opening Price for Changshu Fengfan Power Equipment Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $4.47 ( 0.375%) | $4.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601700.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.58 | 2.85% |
| R2 | 4.53 | 1.90% |
| R1 | 4.51 | 1.32% |
| Price | 4.45 | |
| S1 | 4.42 | -0.570% |
| S2 | 4.40 | -1.15% |
| S3 | 4.36 | -2.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.00 | 12.36% |
| R2 | 4.88 | 9.66% |
| R1 | 4.84 | 8.76% |
| Price | 4.45 | |
| S1 | 4.43 | -0.449% |
| S2 | 4.41 | -0.90% |
| S3 | 4.09 | -8.09% |
601700 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | $0.0500 | 1.09% |
| 2 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | $0.0100 | 0.191% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | $0.0500 | 1.10% |
| 4 | May 14, 2021 | May 14, 2021 | May 14, 2021 | $0.100 | 2.30% |
| 5 | May 31, 2019 | May 31, 2019 | May 31, 2019 | $0.180 | 2.73% |
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