Renhe Pharmacy Co., Ltd. Stock Forecast
Renhe Pharmacy Co., Ltd. stock downgraded from Strong Buy Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Renhe Pharmacy Co., Ltd. stock price fell by -3.53% on the last day (Friday, 26th Apr 2024) from ¥6.79 to ¥6.55. During the last trading day the stock fluctuated 4.56% from a day low at ¥6.36 to a day high of ¥6.65. The price has risen in 7 of the last 10 days and is up by 2.18% over the past 2 weeks. Volume has increased on the last day by 40 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, 64 million shares were bought and sold for approximately ¥416.11 million.
The stock lies in the middle of a wide and strong 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 13.76% during the next 3 months and, with a 90% probability hold a price between ¥6.84 and ¥7.74 at the end of this 3-month period.
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000650.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Renhe Pharmacy Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥6.65 and ¥6.55. 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 25, 2024, and so far it has fallen -3.53%. Further fall is indicated until a new bottom pivot has been found. 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 Renhe Pharmacy Co., Ltd. stock
Renhe Pharmacy Co., Ltd. finds support from accumulated volume at ¥6.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.290 between high and low, or 4.56%. For the last week the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000650.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Renhe Pharmacy Co., Ltd. to open at ¥6.52, and during the day (based on 14 day Average True Range), to move between ¥6.36 and ¥6.74, which gives a possible trading interval of +/-¥0.190 (+/-2.89%) up or down from last closing price. If Renhe Pharmacy Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥6.58 (0.46%) than the support at ¥6.51 (0.61%), 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 Renhe Pharmacy Co., Ltd. stock A Buy?
The Renhe Pharmacy Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Renhe Pharmacy Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Strong Sell candidate.
Current score: -6.442 Strong Sell Candidate Downgraded
Predicted Opening Price for Renhe Pharmacy Co., Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥6.52 ( 0.458%) | ¥6.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000650.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.81 | 3.97 % | |
| R2 | 6.70 | 2.28 % | ||
| R1 | 6.63 | 1.23 % | ||
| Current price: | 6.55 | |||
| Support | S1 | 6.41 | -2.15 % | |
| S2 | 6.34 | -3.19 % | ||
| S3 | 6.23 | -4.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.62 | 1.07 % | |
| R2 | 6.59 | 0.611 % | ||
| R1 | 6.58 | 0.458 % | ||
| Current price | 6.55 | |||
| Support | S1 | 6.51 | -0.611% | |
| S2 | 6.37 | -2.75% | ||
| S3 | 6.25 | -4.58% |
000650 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | ¥0.200 | 3.23% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.100 | 1.70% |
| 3 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.200 | 1.72% |
| 4 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.100 | 1.74% |
| 5 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.100 | 1.32% |
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