Fangdd Network Group Ltd. Stock Forecast
Fangdd Network Group Ltd. stock price up 1.59% on Tuesday
(Updated on Jul 02, 2024)
The Fangdd Network Group Ltd. stock price gained 1.59% on the last trading day (Tuesday, 2nd Jul 2024), rising from $0.566 to $0.575. During the last trading day the stock fluctuated 6.94% from a day low at $0.540 to a day high of $0.578. The price has fallen in 7 of the last 10 days and is down by -19.01% for this period. Volume fell on the last day by -35 thousand shares and in total, 194 thousand shares were bought and sold for approximately $111.27 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.551 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.58% during the next 3 months and, with a 90% probability hold a price between $0.680 and $2.29 at the end of this 3-month period.
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DUO Signals & Forecast
There are mixed signals in the stock today. The Fangdd Network Group Ltd. 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 $0.732. On a fall, the stock will find some support from the short-term average at $0.562. 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -65.77%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Fangdd Network Group Ltd. stock
Fangdd Network Group Ltd. finds support from accumulated volume at $0.552 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.0375 between high and low, or 6.94%. For the last week the stock has had daily average volatility of 9.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DUO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Fangdd Network Group Ltd. to open at $0.564, and during the day (based on 14 day Average True Range), to move between $0.475 and $0.675, which gives a possible trading interval of +/-$0.0999 (+/-17.38%) up or down from last closing price. If Fangdd Network Group Ltd. takes out the full calculated possible swing range there will be an estimated 34.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.552 (4.00%) than the resistance at $0.606 (5.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fangdd Network Group Ltd. stock A Buy?
Fangdd Network Group Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.795 Sell Candidate Unchanged
Predicted Opening Price for Fangdd Network Group Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $0.564 ( 1.88%) | $0.575 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DUO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.602 | 4.64% |
| R2 | 0.587 | 2.15% |
| R1 | 0.578 | 0.607% |
| Price | 0.575 | |
| S1 | 0.550 | -4.38% |
| S2 | 0.541 | -5.91% |
| S3 | 0.527 | -8.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.710 | 23.48% |
| R2 | 0.661 | 14.92% |
| R1 | 0.606 | 5.39% |
| Price | 0.575 | |
| S1 | 0.552 | -4.00% |
| S2 | 0.550 | -4.35% |
| S3 | 0.485 | -15.62% |
FAQ
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