FriendTimes Inc Stock Forecast
Big movements in FriendTimes Inc stock price on Friday moving 12.50% between high and low
(Updated on May 17, 2024)
The FriendTimes Inc stock price gained 1.22% on the last trading day (Friday, 17th May 2024), rising from HK$0.82 to HK$0.83. During the last trading day the stock fluctuated 12.50% from a day low at HK$0.80 to a day high of HK$0.90. The price has fallen in 5 of the last 10 days and is down by -3.49% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately HK$4.87 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.84 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -27.81% during the next 3 months and, with a 90% probability hold a price between HK$0.546 and HK$0.608 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6820.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 3.75%. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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$0.88. On a fall, the stock will find some support from the short-term average at HK$0.82. 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.
Support, Risk & Stop-loss for FriendTimes Inc stock
FriendTimes Inc finds support from accumulated volume at HK$0.82 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 HK$0.1000 between high and low, or 12.50%. For the last week, the stock has had daily average volatility of 6.32%.
Our recommended stop-loss: HK$0.787 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (6820.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect FriendTimes Inc to open at HK$0.84, and during the day (based on 14 day Average True Range), to move between HK$0.782 and HK$0.88, which gives a possible trading interval of +/-HK$0.0484 (+/-5.84%) up or down from last closing price. If FriendTimes Inc takes out the full calculated possible swing range there will be an estimated 11.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.82 (1.20%) than the resistance at HK$0.90 (8.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.545 Hold/Accumulate Upgraded
Predicted Opening Price for FriendTimes Inc of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.84 ( 1.61%) | HK$0.83 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.94 | 13.65 % | |
| R2 | 0.91 | 9.05 % | ||
| R1 | 0.88 | 6.21 % | ||
| Current price: | 0.83 | |||
| Support | S1 | 0.81 | -3.00 % | |
| S2 | 0.782 | -5.84 % | ||
| S3 | 0.743 | -10.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 20.48 % | |
| R2 | 0.93 | 12.05 % | ||
| R1 | 0.90 | 8.43 % | ||
| Current price | 0.83 | |||
| Support | S1 | 0.82 | -1.20% | |
| S2 | 0.81 | -2.41% | ||
| S3 | 0.80 | -3.61% |
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% |
FAQ
Click here for our free guide on how to buy FriendTimes Inc Stock.
