FriendTimes Inc Stock Forecast
Is FriendTimes Inc stock still a buy after falling -5.95% on Tuesday?
(Updated on Jul 02, 2024)
The FriendTimes Inc stock price fell by -5.95% on the last day (Tuesday, 2nd Jul 2024) from HK$0.84 to HK$0.790. During the last trading day the stock fluctuated 3.85% from a day low at HK$0.780 to a day high of HK$0.81. The price has been going up and down for this period, and there has been a -2.47% loss for the last 2 weeks. 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 -270 thousand shares and in total, 232 thousand shares were bought and sold for approximately HK$183.28 thousand.
The stock lies in the middle of a wide and 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 -13.25% during the next 3 months and, with a 90% probability hold a price between HK$0.624 and HK$0.727 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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6820.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 3.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The FriendTimes Inc stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.81. On a fall, the stock will find some support from the short-term average at HK$0.781. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for FriendTimes Inc stock
FriendTimes Inc finds support from accumulated volume at HK$0.780 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0300 between high and low, or 3.85%. For the last week the stock has had daily average volatility of 5.03%.
Our recommended stop-loss: HK$0.746 (-5.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (6820.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect FriendTimes Inc to open at HK$0.793, and during the day (based on 14 day Average True Range), to move between HK$0.750 and HK$0.83, which gives a possible trading interval of +/-HK$0.0400 (+/-5.07%) up or down from last closing price. If FriendTimes Inc takes out the full calculated possible swing range there will be an estimated 10.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$0.80 (1.27%) than the support at HK$0.780 (1.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is FriendTimes Inc stock A Buy?
FriendTimes Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.902 Hold/Accumulate Downgraded
Predicted Opening Price for FriendTimes Inc of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
HK$0.793 ( 0.422%) | HK$0.790 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6820.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.82 | 4.22% |
R2 | 0.81 | 2.77% |
R1 | 0.80 | 1.87% |
Price | 0.790 | |
S1 | 0.782 | -1.03% |
S2 | 0.775 | -1.92% |
S3 | 0.763 | -3.38% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.84 | 6.33% |
R2 | 0.83 | 5.06% |
R1 | 0.80 | 1.27% |
Price | 0.790 | |
S1 | 0.780 | -1.27% |
S2 | 0.770 | -2.53% |
S3 | 0.760 | -3.80% |
6820 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 18, 2023 | May 18, 2023 | May 18, 2023 | HK$0.0600 | 5.83% |
2 | May 20, 2022 | May 20, 2022 | May 20, 2022 | HK$0.120 | 9.60% |
3 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.120 | 5.08% |
4 | Mar 26, 2020 | May 26, 2020 | Jun 22, 2020 | HK$0.100 | 2.79% |
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