NanHua Bio-medicine Co Ltd Stock Forecast
NanHua Bio-medicine Co Ltd stock price down 2.60% on Monday
(Updated on Jun 03, 2024)
The NanHua Bio-medicine Co Ltd stock price fell by -2.60% on the last day (Monday, 3rd Jun 2024) from ¥6.93 to ¥6.75. During the last trading day the stock fluctuated 5.26% from a day low at ¥6.66 to a day high of ¥7.01. The price has been going up and down for this period, and there has been a -7.15% loss for the last 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately ¥30.93 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.57% during the next 3 months and, with a 90% probability hold a price between ¥4.48 and ¥8.13 at the end of this 3-month period.
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000504.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The NanHua Bio-medicine Co Ltd 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 ¥6.99 and ¥7.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -34.02%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NanHua Bio-medicine Co Ltd stock
NanHua Bio-medicine Co Ltd finds support from accumulated volume at ¥6.69 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 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 ¥0.350 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 4.12%.
NanHua Bio-medicine Co Ltd is oversold on RSI14 (13). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000504.SZ) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect NanHua Bio-medicine Co Ltd to open at ¥6.81, and during the day (based on 14 day Average True Range), to move between ¥5.91 and ¥7.59, which gives a possible trading interval of +/-¥0.84 (+/-12.45%) 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 24.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.69 (0.89%) than the resistance at ¥7.43 (10.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NanHua Bio-medicine Co Ltd stock A Buy?
NanHua Bio-medicine Co Ltd 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.
Current score: -4.983 Sell Candidate Unchanged
Predicted Opening Price for NanHua Bio-medicine Co Ltd of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| ¥6.81 ( 0.84%) | ¥6.75 |
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 | 7.16 | 6.02 % | |
| R2 | 7.02 | 4.04 % | ||
| R1 | 6.94 | 2.82 % | ||
| Current price: | 6.75 | |||
| Support | S1 | 6.67 | -1.14 % | |
| S2 | 6.59 | -2.36 % | ||
| S3 | 6.46 | -4.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.89 | 16.89 % | |
| R2 | 7.67 | 13.63 % | ||
| R1 | 7.43 | 10.07 % | ||
| Current price | 6.75 | |||
| Support | S1 | 6.69 | -0.89% | |
| S2 | 6.59 | -2.37% | ||
| S3 | 6.56 | -2.81% |
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% |
FAQ
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