NanHua Bio-medicine Co Ltd Stock Forecast
Volatile ride for NanHua Bio-medicine Co Ltd stock price on Thursday moving between ¥7.18 and ¥9.70
(Updated on May 09, 2024)
The NanHua Bio-medicine Co Ltd stock price gained 9.98% on the last trading day (Thursday, 9th May 2024), rising from ¥8.82 to ¥9.70. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 35.10% from a day low at ¥7.18 to a day high of ¥9.70. The price has risen in 9 of the last 10 days and is up by 47.87% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately ¥19.52 million. 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ¥9.29, a level that may pose a second chance to hit a runner. According to fan-theory ¥12.42 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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000504.SZ Signals & Forecast
The NanHua Bio-medicine Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥8.06 and ¥8.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 52.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for NanHua Bio-medicine Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥8.81 and ¥8.58. 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, NanHua Bio-medicine Co Ltd finds support just below today's level at ¥8.81. If this is broken, then the next support from accumulated volume will be at ¥8.58 and ¥7.89.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.52 between high and low, or 35.10%. For the last week, the stock has had daily average volatility of 21.02%.
The NanHua Bio-medicine Co Ltd stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ¥9.43 (-2.80%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (000504.SZ) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect NanHua Bio-medicine Co Ltd to open at ¥8.86, and during the day (based on 14 day Average True Range), to move between ¥8.72 and ¥10.68, which gives a possible trading interval of +/-¥0.98 (+/-10.12%) up or down from last closing price. If NanHua Bio-medicine Co Ltd takes out the full calculated possible swing range there will be an estimated 20.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥8.81, some ¥0.89 (9.18%) from the current price of ¥9.70, our system finds the risk reward attractive.
Is NanHua Bio-medicine Co Ltd stock A Buy?
NanHua Bio-medicine Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for NanHua Bio-medicine Co Ltd of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ¥8.86 ( 8.66%) | ¥9.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000504.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.38 | 17.32 % | |
| R2 | 10.42 | 7.40 % | ||
| R1 | 9.82 | 1.26 % | ||
| Current price: | 9.70 | |||
| Support | S1 | 7.90 | -18.58 % | |
| S2 | 7.30 | -24.72 % | ||
| S3 | 6.34 | -34.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 9.70 | |||
| Support | S1 | 8.81 | -9.18% | |
| S2 | 8.58 | -11.55% | ||
| S3 | 7.89 | -18.66% |
000504 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2004 | Apr 23, 2004 | Apr 23, 2004 | ¥0.0231 | 0.404% |
| 2 | Jun 14, 1993 | Jun 14, 1993 | Jun 14, 1993 | ¥0.0231 | 0.299% |
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