Suzhou Xingye Materials Technology Stock Forecast
A very red day for Suzhou Xingye Materials Technology stock price after a -24.36% fall in the Friday trading session
(Updated on Jun 21, 2024)
The Suzhou Xingye Materials Technology stock price fell by -24.36% on the last day (Friday, 21st Jun 2024) from $10.51 to $7.95. During the last trading day the stock fluctuated 5.45% from a day low at $7.70 to a day high of $8.12. The price has risen in 6 of the last 10 days but is still down by -22.36% 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 -766 thousand shares and in total, 2 million shares were bought and sold for approximately $18.28 million.
Given the current horizontal trend, you can expect Suzhou Xingye Materials Technology stock with a 90% probability to be traded between $8.04 and $16.11 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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603928.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 Suzhou Xingye Materials Technology 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 $10.33 and $11.49. 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 08, 2024, and so far it has fallen -49.81%. 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 Suzhou Xingye Materials Technology 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 $0.420 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 3.93%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603928.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Suzhou Xingye Materials Technology Co.,Ltd. to open at $7.92, and during the day (based on 14 day Average True Range), to move between $7.35 and $8.55, which gives a possible trading interval of +/-$0.596 (+/-7.49%) up or down from last closing price. If Suzhou Xingye Materials Technology Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 14.98% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.18, some $1.23 (15.47%) from the current price of $7.95, our system finds the risk reward not very attractive.
Is Suzhou Xingye Materials Technology Co.,Ltd. stock A Buy?
Suzhou Xingye Materials Technology 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.
Current score: -1.560 Sell Candidate Unchanged
Predicted Opening Price for Suzhou Xingye Materials Technology Co.,Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $7.92 ( 0.335%) | $7.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603928.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.34 | 4.95% |
| R2 | 8.18 | 2.93% |
| R1 | 8.08 | 1.68% |
| Price | 7.95 | |
| S1 | 7.76 | -2.35% |
| S2 | 7.66 | -3.60% |
| S3 | 7.50 | -5.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.90 | 24.53% |
| R2 | 9.82 | 23.52% |
| R1 | 9.18 | 15.47% |
| Price | 7.95 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
603928 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Jun 21, 2024 | $0.115 | 1.44% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | $1.00 | 8.82% |
| 3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | $0.150 | 1.42% |
| 4 | Jun 08, 2020 | Jun 08, 2020 | Jun 08, 2020 | $0.200 | 1.88% |
| 5 | Jun 03, 2019 | Jun 03, 2019 | Jun 03, 2019 | $0.220 | 1.69% |
FAQ
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