Hangzhou First Applied Material Co., Stock Forecast
Hangzhou First Applied Material Co., stock price fell more than -31.38% Monday closing at $15.31
(Updated on Jun 24, 2024)
The Hangzhou First Applied Material Co., stock price fell by -31.38% on the last day (Monday, 24th Jun 2024) from $22.31 to $15.31. It has now fallen 9 days in a row. During the last trading day the stock fluctuated 3.96% from a day low at $15.14 to a day high of $15.74. The price has fallen in 9 of the last 10 days and is down by -37.66% for this period. Volume has increased on the last day by 8 million 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, 19 million shares were bought and sold for approximately $296.38 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($21.11) are considered to be a "second chance" to get out. According to the fan-theory $15.97 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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603806.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Hangzhou First Applied Material 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 $22.11 and $25.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -44.75%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hangzhou First Applied Material Co., stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.600 between high and low, or 3.96%. For the last week, the stock has had daily average volatility of 3.18%.
Hangzhou First Applied Material Co., is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603806.SS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Hangzhou First Applied Material Co., Ltd. to open at $15.40, and during the day (based on 14 day Average True Range), to move between $14.02 and $16.60, which gives a possible trading interval of +/-$1.29 (+/-8.44%) up or down from last closing price. If Hangzhou First Applied Material Co., Ltd. takes out the full calculated possible swing range there will be an estimated 16.88% move between the lowest and the highest trading price during the day.
Is Hangzhou First Applied Material Co., Ltd. stock A Buy?
Hangzhou First Applied Material Co., holds several negative signals and is within a 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.
Current score: -6.875 Strong Sell Candidate Unchanged
Predicted Opening Price for Hangzhou First Applied Material Co., Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $15.40 ( 0.566%) | $15.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603806.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.00 | 4.49% |
| R2 | 15.77 | 2.99% |
| R1 | 15.63 | 2.06% |
| Price | 15.31 | |
| S1 | 15.17 | -0.93% |
| S2 | 15.03 | -1.86% |
| S3 | 14.80 | -3.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 15.31 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
603806 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2024 | Jun 24, 2024 | Jun 24, 2024 | $0.260 | 1.70% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | $0.150 | 0.447% |
| 3 | May 25, 2022 | May 25, 2022 | May 25, 2022 | $0.350 | 0.624% |
| 4 | May 24, 2021 | May 24, 2021 | May 24, 2021 | $0.268 | 0.680% |
| 5 | May 18, 2020 | May 18, 2020 | May 18, 2020 | $0.234 | 1.59% |
FAQ
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