Phoenix New Media Limited Stock Forecast
High volatility in Phoenix New Media Limited stock price on Thursday which ended trading at $1.78
(Updated on Apr 25, 2024)
The Phoenix New Media Limited stock price gained 1.14% on the last trading day (Thursday, 25th Apr 2024), rising from $1.76 to $1.78. During the last trading day the stock fluctuated 10.67% from a day low at $1.78 to a day high of $1.97. The price has fallen in 7 of the last 10 days and is down by -14.83% for this period. Volume fell on the last day by -10 thousand shares and in total, 17 thousand shares were bought and sold for approximately $31.01 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 $1.73 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 41.13% during the next 3 months and, with a 90% probability hold a price between $2.44 and $3.23 at the end of this 3-month period.
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FENG Signals & Forecast
There are few to no technical positive signals at the moment. The Phoenix New Media Limited 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 $1.83 and $1.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -16.43%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Phoenix New Media Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.65 and $1.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Phoenix New Media Limited finds support just below today's level at $1.65. If this is broken, then the next support from accumulated volume will be at $1.48 and $1.41.
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 $0.190 between high and low, or 10.67%. For the last week the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FENG) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Phoenix New Media Limited to open at $1.84, and during the day (based on 14 day Average True Range), to move between $1.64 and $1.92, which gives a possible trading interval of +/-$0.141 (+/-7.94%) up or down from last closing price. If Phoenix New Media Limited takes out the full calculated possible swing range there will be an estimated 15.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.86 (4.49%) than the support at $1.65 (7.30%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Phoenix New Media Limited stock A Buy?
The Phoenix New Media Limited stock holds several negative signals and despite the positive trend, we believe Phoenix New Media Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.845 Sell Candidate Unchanged
Predicted Opening Price for Phoenix New Media Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.84 ( 3.56%) | $1.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FENG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.03 | 14.23 % | |
| R2 | 1.96 | 10.15 % | ||
| R1 | 1.92 | 7.64 % | ||
| Current price: | 1.78 | |||
| Support | S1 | 1.77 | -0.519 % | |
| S2 | 1.73 | -3.04 % | ||
| S3 | 1.65 | -7.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 12.36 % | |
| R2 | 1.94 | 8.99 % | ||
| R1 | 1.86 | 4.49 % | ||
| Current price | 1.78 | |||
| Support | S1 | 1.65 | -7.30% | |
| S2 | 1.48 | -16.85% | ||
| S3 | 1.41 | -21.07% |
FENG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 19, 2020 | Dec 23, 2020 | Dec 22, 2020 | $8.23 | 55.73% |
| 2 | Nov 14, 2019 | Dec 16, 2019 | Dec 13, 2019 | $8.23 | 41.05% |
FAQ
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