FriendTimes Inc Stock Forecast
Red day on Friday for FriendTimes Inc stock after losing 2.47%
(Updated on May 31, 2024)
The FriendTimes Inc stock price fell by -2.47% on the last day (Friday, 31st May 2024) from HK$0.81 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 fallen in 4 of the last 10 days and is down by -4.82% 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 -2 million shares and in total, 3 million shares were bought and sold for approximately HK$2.10 million.
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 -24.66% during the next 3 months and, with a 90% probability hold a price between HK$0.527 and HK$0.627 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
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 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 HK$0.82 and HK$0.84. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.95%. 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 FriendTimes Inc 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 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 HK$0.0300 (3.85%) between high and low. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6820.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 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$0.746 and HK$0.83, which gives a possible trading interval of +/-HK$0.0438 (+/-5.54%) up or down from last closing price. If FriendTimes Inc takes out the full calculated possible swing range there will be an estimated 11.08% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.80, some HK$0.0100 (1.27%) from the current price of HK$0.790, our system finds the risk reward not very attractive.
Is FriendTimes Inc stock A Buy?
FriendTimes Inc 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: -2.749 Sell Candidate Unchanged
Predicted Opening Price for FriendTimes Inc of Monday, June 3, 2024
| Fair opening price June 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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.82 | 4.22 % | |
| R2 | 0.81 | 2.77 % | ||
| R1 | 0.80 | 1.87 % | ||
| Current price: | 0.790 | |||
| Support | S1 | 0.782 | -1.03 % | |
| S2 | 0.775 | -1.92 % | ||
| S3 | 0.763 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 6.33 % | |
| R2 | 0.83 | 5.06 % | ||
| R1 | 0.80 | 1.27 % | ||
| Current price | 0.790 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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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