Sichuan Furong Technology Co., Ltd. Stock Forecast
Sichuan Furong Technology Co., Ltd. stock downgraded to Sell Candidate
(Updated on Jun 21, 2024)
The Sichuan Furong Technology Co., Ltd. stock price fell by -1.89% on the last day (Friday, 21st Jun 2024) from $14.28 to $14.01. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.44% from a day low at $13.91 to a day high of $14.25. The price has been going up and down for this period, and there has been a 0.29% gain for the last 2 weeks. Volume has increased on the last day by 681 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately $141.27 million.
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 -21.36% during the next 3 months and, with a 90% probability hold a price between $10.37 and $13.23 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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603327.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sichuan Furong 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 $14.54 and $15.03. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sichuan Furong Technology Co., Ltd. stock
Sichuan Furong Technology Co., Ltd. finds support from accumulated volume at $13.97 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 $0.340 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603327.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Sichuan Furong Technology Co., Ltd. to open at $14.06, and during the day (based on 14 day Average True Range), to move between $13.25 and $14.77, which gives a possible trading interval of +/-$0.761 (+/-5.43%) up or down from last closing price. If Sichuan Furong Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.97 (0.29%) than the resistance at $15.42 (10.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sichuan Furong Technology Co., Ltd. stock A Buy?
Sichuan Furong Technology Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.856 Sell Candidate Downgraded
Predicted Opening Price for Sichuan Furong Technology Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $14.06 ( 0.333%) | $14.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603327.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.40 | 2.76% |
| R2 | 14.27 | 1.83% |
| R1 | 14.19 | 1.26% |
| Price | 14.01 | |
| S1 | 13.93 | -0.594% |
| S2 | 13.85 | -1.17% |
| S3 | 13.72 | -2.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.42 | 17.20% |
| R2 | 15.49 | 10.56% |
| R1 | 15.42 | 10.06% |
| Price | 14.01 | |
| S1 | 13.97 | -0.286% |
| S2 | 13.84 | -1.21% |
| S3 | 13.81 | -1.43% |
603327 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2024 | Jun 26, 2024 | Jun 26, 2024 | $0.300 | 2.14% |
| 2 | May 30, 2023 | May 30, 2023 | May 30, 2023 | $0.400 | 3.51% |
| 3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | $0.420 | 4.13% |
| 4 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | $0.277 | 3.05% |
| 5 | May 14, 2020 | May 14, 2020 | May 14, 2020 | $0.192 | 1.29% |
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