Northeast Pharmaceutical Group Co,Ltd Stock Forecast
Stronger technical forecast for Northeast Pharmaceutical Group Co,Ltd stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The Northeast Pharmaceutical Group Co,Ltd stock price gained 1.93% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥4.66 to ¥4.75. During the last trading day the stock fluctuated 3.23% from a day low at ¥4.64 to a day high of ¥4.79. The price has risen in 8 of the last 10 days and is up by 7.22% over the past 2 weeks. Volume fell on the last day by -3 million shares and in total, 17 million shares were bought and sold for approximately ¥81.05 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 stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.37% during the next 3 months and, with a 90% probability hold a price between ¥4.62 and ¥5.36 at the end of this 3-month period.
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000597.SZ Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -1.45%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Northeast Pharmaceutical Group 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 ¥4.70 and ¥4.73. A breakdown below any of these levels will issue sell signals. 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 Northeast Pharmaceutical Group Co,Ltd stock
Northeast Pharmaceutical Group Co,Ltd finds support from accumulated volume at ¥4.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.150 (3.23%) between high and low. For the last week, the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: ¥4.56 (-3.99%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (000597.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Northeast Pharmaceutical Group Co,Ltd to open at ¥4.73, and during the day (based on 14 day Average True Range), to move between ¥4.57 and ¥4.93, which gives a possible trading interval of +/-¥0.180 (+/-3.79%) up or down from last closing price. If Northeast Pharmaceutical Group Co,Ltd takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥4.76 (0.21%) than the support at ¥4.66 (1.89%), 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 Northeast Pharmaceutical Group Co,Ltd 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 Sell to a Buy candidate.
Current score: 2.005 Buy Candidate Upgraded
Predicted Opening Price for Northeast Pharmaceutical Group Co,Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥4.73 ( 0.491%) | ¥4.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000597.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.88 | 2.67 % | |
| R2 | 4.82 | 1.46 % | ||
| R1 | 4.78 | 0.715 % | ||
| Current price: | 4.75 | |||
| Support | S1 | 4.67 | -1.70 % | |
| S2 | 4.63 | -2.44 % | ||
| S3 | 4.58 | -3.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.87 | 2.53 % | |
| R2 | 4.85 | 2.11 % | ||
| R1 | 4.76 | 0.211 % | ||
| Current price | 4.75 | |||
| Support | S1 | 4.66 | -1.89% | |
| S2 | 4.60 | -3.16% | ||
| S3 | 4.58 | -3.58% |
000597 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2023 | May 16, 2023 | May 16, 2023 | ¥0.100 | 1.80% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.0140 | 0.264% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.0080 | 0.164% |
| 4 | Apr 30, 2010 | Apr 30, 2010 | Apr 30, 2010 | ¥0.0541 | 0.607% |
| 5 | Jun 29, 2009 | Jun 29, 2009 | Jun 29, 2009 | ¥0.0450 | 0.474% |
FAQ
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