Square Technology Group Co.,Ltd Stock Forecast
Square Technology Group Co.,Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Square Technology Group Co.,Ltd stock price gained 2.47% on the last trading day (Wednesday, 26th Jun 2024), rising from $8.90 to $9.12. During the last trading day the stock fluctuated 3.28% from a day low at $8.84 to a day high of $9.13. The price has fallen in 7 of the last 10 days and is down by -4.9% for this period. Volume fell on the last day by -496 thousand shares and in total, 1 million shares were bought and sold for approximately $9.63 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 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 -19.27% during the next 3 months and, with a 90% probability hold a price between $7.15 and $7.69 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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603339.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 2.47%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Square Technology Group 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 $9.15 and $9.80. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Square Technology Group Co.,Ltd stock
Square Technology Group Co.,Ltd finds support from accumulated volume at $8.91 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 $0.290 between high and low, or 3.28%. For the last week, the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: $8.76 (-3.99%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 55 days ago.)
Trading Expectations (603339.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Square Technology Group Co.,Ltd to open at $9.03, and during the day (based on 14 day Average True Range), to move between $8.87 and $9.37, which gives a possible trading interval of +/-$0.250 (+/-2.74%) up or down from last closing price. If Square Technology Group Co.,Ltd takes out the full calculated possible swing range there will be an estimated 5.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.91 (2.30%) than the resistance at $10.34 (13.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Square Technology Group Co.,Ltd stock A Buy?
Square Technology Group Co.,Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.443 Hold/Accumulate Upgraded
Predicted Opening Price for Square Technology Group Co.,Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $9.03 ( 0.99%) | $9.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603339.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.32 | 2.19% |
| R2 | 9.21 | 0.98% |
| R1 | 9.14 | 0.228% |
| Price | 9.12 | |
| S1 | 8.92 | -2.20% |
| S2 | 8.85 | -2.95% |
| S3 | 8.74 | -4.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.07 | 21.38% |
| R2 | 10.46 | 14.69% |
| R1 | 10.34 | 13.38% |
| Price | 9.12 | |
| S1 | 8.91 | -2.30% |
| S2 | 8.90 | -2.41% |
| S3 | 0 | - |
603339 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2024 | Jun 18, 2024 | Jun 18, 2024 | $0.260 | 2.78% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | $0.220 | 1.52% |
| 3 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | $0.136 | 1.23% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | $0.105 | 1.13% |
| 5 | Jul 06, 2020 | Jul 06, 2020 | Jul 06, 2020 | $0.188 | 1.89% |
FAQ
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