Shenzhen Fortune Trend technology Co., Stock Forecast
Shenzhen Fortune Trend technology Co., stock upgraded from Strong Sell Candidate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Shenzhen Fortune Trend technology Co., stock price fell by -0.84% on the last day (Tuesday, 25th Jun 2024) from $84.06 to $83.35. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.28% from a day low at $81.51 to a day high of $85.00. The price has fallen in 6 of the last 10 days and is down by -31.2% 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 -168 thousand shares and in total, 3 million shares were bought and sold for approximately $245.87 million.
Given the current short-term trend, the stock is expected to fall -3.64% during the next 3 months and, with a 90% probability hold a price between $80.32 and $124.15 at the end of this 3-month period.
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688318.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen Fortune Trend technology Co., 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 $86.60 and $112.18. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -36.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Shenzhen Fortune Trend technology Co., 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 may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $3.49 between high and low, or 4.28%. For the last week, the stock has had daily average volatility of 4.71%.
Shenzhen Fortune Trend technology Co., is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (688318.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Shenzhen Fortune Trend technology Co., Ltd. to open at $83.29, and during the day (based on 14 day Average True Range), to move between $77.64 and $89.06, which gives a possible trading interval of +/-$5.71 (+/-6.85%) up or down from last closing price. If Shenzhen Fortune Trend technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 13.71% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $85.77, some $2.42 (2.90%) from the current price of $83.35, our system finds the risk reward not very attractive.
Is Shenzhen Fortune Trend technology Co., Ltd. stock A Buy?
Shenzhen Fortune Trend technology Co., 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.506 Sell Candidate Upgraded
Predicted Opening Price for Shenzhen Fortune Trend technology Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $83.29 ( 0.0760%) | $83.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688318.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 86.78 | 4.11% |
| R2 | 85.44 | 2.51% |
| R1 | 84.62 | 1.52% |
| Price | 83.35 | |
| S1 | 81.95 | -1.68% |
| S2 | 81.13 | -2.66% |
| S3 | 79.80 | -4.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.11 | 9.31% |
| R2 | 86.52 | 3.80% |
| R1 | 85.77 | 2.90% |
| Price | 83.35 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
688318 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 14, 2024 | $0.80 | 0.88% |
| 2 | Jun 13, 2023 | Jun 13, 2023 | Jun 13, 2023 | $0.500 | 0.657% |
| 3 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | $1.40 | 2.77% |
| 4 | May 27, 2021 | May 27, 2021 | May 27, 2021 | $0.714 | 1.11% |
| 5 | Sep 29, 2020 | Sep 29, 2020 | Sep 29, 2020 | $0.429 | 0.498% |
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