L&K Engineering (Suzhou) Co.,Ltd. Stock Forecast
Red day on Tuesday for L&K Engineering (Suzhou) Co.,Ltd.
(Updated on Jun 25, 2024)
The L&K Engineering (Suzhou) Co.,Ltd. stock price fell by -4.47% on the last day (Tuesday, 25th Jun 2024) from $24.40 to $23.31. During the last trading day the stock fluctuated 6.66% from a day low at $22.98 to a day high of $24.51. The price has fallen in 7 of the last 10 days and is down by -7.32% for this period. Volume has increased on the last day by 2 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, 5 million shares were bought and sold for approximately $115.35 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.87 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.32% during the next 3 months and, with a 90% probability hold a price between $25.69 and $34.21 at the end of this 3-month period.
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603929.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 L&K Engineering (Suzhou) 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 $24.84 and $25.32. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -18.15%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, July 24, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, July 24, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for L&K Engineering (Suzhou) Co.,Ltd. stock
L&K Engineering (Suzhou) Co.,Ltd. finds support from accumulated volume at $22.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.53 (6.66%) between high and low. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603929.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect L&K Engineering (Suzhou) Co.,Ltd. to open at $23.60, and during the day (based on 14 day Average True Range), to move between $22.36 and $24.26, which gives a possible trading interval of +/-$0.95 (+/-4.08%) up or down from last closing price. If L&K Engineering (Suzhou) Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.91 (1.72%) than the resistance at $23.80 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is L&K Engineering (Suzhou) Co.,Ltd. stock A Buy?
The L&K Engineering (Suzhou) Co.,Ltd. stock holds several negative signals and despite the positive trend, we believe L&K Engineering (Suzhou) Co.,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.376 Sell Candidate Unchanged
Predicted Opening Price for L&K Engineering (Suzhou) Co.,Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $23.60 ( 1.24%) | $23.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603929.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.13 | 7.81% |
| R2 | 24.55 | 5.30% |
| R1 | 24.18 | 3.75% |
| Price | 23.31 | |
| S1 | 23.02 | -1.26% |
| S2 | 22.65 | -2.81% |
| S3 | 22.07 | -5.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.12 | 16.34% |
| R2 | 25.26 | 8.37% |
| R1 | 23.80 | 2.10% |
| Price | 23.31 | |
| S1 | 22.91 | -1.72% |
| S2 | 22.79 | -2.23% |
| S3 | 22.39 | -3.95% |
603929 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 15, 2024 | $1.00 | 4.02% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | $0.250 | 1.63% |
| 3 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | $0.100 | 0.98% |
| 4 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | $0.100 | 0.91% |
| 5 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | $0.250 | 1.56% |
FAQ
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