Hunan Jingfeng Pharmaceutical Co Ltd Stock Forecast

Hunan Jingfeng Pharmaceutical Co Ltd stock upgraded to Hold/Accumulate.
(Updated on May 06, 2024)

000908.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 Hunan Jingfeng Pharmaceutical 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 ¥1.63 and ¥2.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -42.29%. 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 Hunan Jingfeng Pharmaceutical Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥1.52 and ¥1.39. 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, Hunan Jingfeng Pharmaceutical Co Ltd finds support just below today's level at ¥1.52. If this is broken, then the next support from accumulated volume will be at ¥1.39 and ¥1.38.

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 ¥0.140 between high and low, or 9.03%. For the last week, the stock has had daily average volatility of 7.07%.

Our recommended stop-loss: ¥1.52 (-5.42%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 28 days ago.)

Trading Expectations (000908.SZ) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Hunan Jingfeng Pharmaceutical Co Ltd to open at ¥1.62, and during the day (based on 14 day Average True Range), to move between ¥1.41 and ¥1.81, which gives a possible trading interval of +/-¥0.203 (+/-12.61%) up or down from last closing price. If Hunan Jingfeng Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 25.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥1.67 (3.73%) than the support at ¥1.52 (5.59%), 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 Hunan Jingfeng Pharmaceutical Co Ltd stock A Buy?

Hunan Jingfeng Pharmaceutical Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

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 Hunan Jingfeng Pharmaceutical Co Ltd of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.