Guangdong Songfa Ceramics Co.,Ltd. Stock Forecast
Stronger technical forecast for Guangdong Songfa Ceramics Co.,Ltd. stock price after Friday trading.
(Updated on Jun 28, 2024)
The Guangdong Songfa Ceramics Co.,Ltd. stock price gained 1.42% on the last trading day (Friday, 28th Jun 2024), rising from $13.42 to $13.61. During the last trading day the stock fluctuated 6.40% from a day low at $12.97 to a day high of $13.80. The price has been going up and down for this period, and there has been a 17.23% gain for the last 2 weeks. Volume fell on the last day by -596 thousand shares and in total, 2 million shares were bought and sold for approximately $20.59 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 -22.42% during the next 3 months and, with a 90% probability hold a price between $7.96 and $11.34 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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603268.SS Signals & Forecast
The Guangdong Songfa Ceramics Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $13.70. On a fall, the stock will find some support from the long-term average at approximately $13.52. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 20.12%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Guangdong Songfa Ceramics Co.,Ltd. stock
Guangdong Songfa Ceramics Co.,Ltd. finds support from accumulated volume at $13.38 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 $0.83 between high and low, or 6.40%. For the last week, the stock has had daily average volatility of 5.72%.
Our recommended stop-loss: $13.17 (-3.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (603268.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Guangdong Songfa Ceramics Co.,Ltd. to open at $13.46, and during the day (based on 14 day Average True Range), to move between $12.73 and $14.49, which gives a possible trading interval of +/-$0.88 (+/-6.45%) up or down from last closing price. If Guangdong Songfa Ceramics Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 12.91% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.83 (1.62%) than the support at $13.38 (1.69%), 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 Guangdong Songfa Ceramics Co.,Ltd. stock A Buy?
Guangdong Songfa Ceramics Co.,Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.176 Hold/Accumulate Upgraded
Predicted Opening Price for Guangdong Songfa Ceramics Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $13.46 ( 1.10%) | $13.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603268.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.29 | 5.00% |
| R2 | 13.97 | 2.67% |
| R1 | 13.78 | 1.23% |
| Price | 13.61 | |
| S1 | 13.14 | -3.43% |
| S2 | 12.95 | -4.87% |
| S3 | 12.63 | -7.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.95 | 9.85% |
| R2 | 14.00 | 2.87% |
| R1 | 13.83 | 1.62% |
| Price | 13.61 | |
| S1 | 13.38 | -1.69% |
| S2 | 12.77 | -6.17% |
| S3 | 11.33 | -16.75% |
603268 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2019 | Jun 25, 2019 | Jun 25, 2019 | $0.0950 | 0.575% |
| 2 | May 21, 2018 | May 21, 2018 | May 21, 2018 | $0.114 | 0.593% |
| 3 | May 19, 2017 | May 19, 2017 | May 19, 2017 | $0.100 | 0.285% |
| 4 | May 18, 2016 | May 18, 2016 | May 18, 2016 | $0.0679 | 0.221% |
| 5 | Jun 11, 2015 | Jun 11, 2015 | Jun 11, 2015 | $0.0714 | 0.179% |
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