Hutchmed (china) Limited Stock Forecast
Hutchmed (china) Limited stock price ended at HK$27.70 on Thursday, after losing 2.46%.
(Updated on Jun 27, 2024)
The Hutchmed (china) Limited stock price fell by -2.46% on the last day (Thursday, 27th Jun 2024) from HK$28.40 to HK$27.70. During the last trading day the stock fluctuated 4.36% from a day low at HK$27.50 to a day high of HK$28.70. The price has fallen in 6 of the last 10 days and is down by -6.58% for this period. Volume has increased on the last day by 190 thousand 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, 2 million shares were bought and sold for approximately HK$45.90 million.
The stock lies in the middle of a 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 -7.26% during the next 3 months and, with a 90% probability hold a price between HK$25.14 and HK$26.59 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0013.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.362%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hutchmed (china) Limited 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 HK$28.21 and HK$28.95. A break-up above any of these levels will issue buy signals. 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 Hutchmed (china) Limited stock
Hutchmed (china) Limited finds support from accumulated volume at HK$27.60 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 HK$1.20 (4.36%) between high and low. For the last week, the stock has had daily average volatility of 4.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0013.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Hutchmed (china) Limited to open at HK$27.97, and during the day (based on 14 day Average True Range), to move between HK$26.41 and HK$28.99, which gives a possible trading interval of +/-HK$1.29 (+/-4.67%) up or down from last closing price. If Hutchmed (china) Limited takes out the full calculated possible swing range there will be an estimated 9.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$27.60 (0.36%) than the resistance at HK$28.20 (1.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hutchmed (china) Limited stock A Buy?
Hutchmed (china) Limited holds several negative signals and is within a 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: -1.656 Sell Candidate Unchanged
Predicted Opening Price for Hutchmed (china) Limited of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
HK$27.97 ( 0.96%) | HK$27.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0013.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 29.17 | 5.29% |
R2 | 28.71 | 3.64% |
R1 | 28.43 | 2.62% |
Price | 27.70 | |
S1 | 27.51 | -0.692% |
S2 | 27.23 | -1.71% |
S3 | 26.77 | -3.37% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 29.70 | 7.22% |
R2 | 29.65 | 7.04% |
R1 | 28.20 | 1.81% |
Price | 27.70 | |
S1 | 27.60 | -0.361% |
S2 | 0 | - |
S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Hutchmed (china) Limited Stock.