Shanghai Fudan Microelectronics Group Co Stock Forecast

Volatile ride for Shanghai Fudan Microelectronics Group Co stock price on Friday moving between $29.75 and $32.77
(Updated on Jun 28, 2024)

688385.SS Signals & Forecast

The Shanghai Fudan Microelectronics Group 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 $31.38 and $31.61. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 6.26%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Shanghai Fudan Microelectronics Group Co stock

Shanghai Fudan Microelectronics Group Co finds support from accumulated volume at $31.32 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 $3.02 between high and low, or 10.15%. For the last week, the stock has had daily average volatility of 6.89%.

Our recommended stop-loss: $29.92 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (688385.SS) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Shanghai Fudan Microelectronics Group Company Limited to open at $31.30, and during the day (based on 14 day Average True Range), to move between $29.78 and $32.98, which gives a possible trading interval of +/-$1.60 (+/-5.09%) up or down from last closing price. If Shanghai Fudan Microelectronics Group Company Limited takes out the full calculated possible swing range there will be an estimated 10.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $31.32 (0.19%) than the resistance at $32.64 (4.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Fudan Microelectronics Group Company Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.871 Buy Candidate Upgraded

Predicted Opening Price for Shanghai Fudan Microelectronics Group Company Limited of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.