Sunstone Development Co., Ltd. Stock Forecast
Evaluation of Sunstone Development Co., Ltd. stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The Sunstone Development Co., Ltd. stock price fell by -3.27% on the last day (Thursday, 27th Jun 2024) from $12.84 to $12.42. During the last trading day the stock fluctuated 3.47% from a day low at $12.38 to a day high of $12.81. The price has fallen in 5 of the last 10 days and is down by -7.31% 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 -1 million shares and in total, 4 million shares were bought and sold for approximately $53.19 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $12.03 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Sunstone Development Co., Ltd. stock with a 90% probability to be traded between $12.24 and $16.74 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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603612.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sunstone Development 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 $12.82 and $14.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -23.80%. Further fall is indicated until a new bottom pivot has been found. 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 Sunstone Development Co., Ltd. stock
Sunstone Development Co., Ltd. finds support from accumulated volume at $12.33 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 $0.430 between high and low, or 3.47%. For the last week, the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603612.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Sunstone Development Co., Ltd. to open at $12.54, and during the day (based on 14 day Average True Range), to move between $11.90 and $12.94, which gives a possible trading interval of +/-$0.523 (+/-4.21%) up or down from last closing price. If Sunstone Development Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.33 (0.72%) than the resistance at $13.63 (9.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sunstone Development Co., Ltd. stock A Buy?
Sunstone Development 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: -3.698 Sell Candidate Downgraded
Predicted Opening Price for Sunstone Development Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $12.54 ( 0.94%) | $12.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603612.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.97 | 4.40% |
| R2 | 12.80 | 3.08% |
| R1 | 12.70 | 2.26% |
| Price | 12.42 | |
| S1 | 12.37 | -0.383% |
| S2 | 12.27 | -1.20% |
| S3 | 12.11 | -2.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.43 | 16.18% |
| R2 | 14.30 | 15.14% |
| R1 | 13.63 | 9.74% |
| Price | 12.42 | |
| S1 | 12.33 | -0.725% |
| S2 | 12.09 | -2.66% |
| S3 | 11.76 | -5.31% |
603612 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 30, 2023 | Nov 30, 2023 | Nov 30, 2023 | $0.560 | 3.49% |
| 2 | Jun 15, 2023 | Jun 15, 2023 | Jun 15, 2023 | $0.410 | 2.39% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | $0.470 | 2.10% |
| 4 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | $0.200 | 1.26% |
| 5 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | $0.0616 | 0.434% |
FAQ
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