Hualan Biological Engineering Inc Stock Forecast
Evaluation of Hualan Biological Engineering Inc stock downgraded after the last trading session.
(Updated on May 16, 2024)
The Hualan Biological Engineering Inc stock price fell by -1.11% on the last day (Thursday, 16th May 2024) from ¥19.82 to ¥19.60. During the last trading day the stock fluctuated 1.79% from a day low at ¥19.57 to a day high of ¥19.92. The price has been going up and down for this period, and there has been a 0.72% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -453 thousand shares and in total, 8 million shares were bought and sold for approximately ¥163.35 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hualan Biological Engineering Inc stock with a 90% probability to be traded between ¥18.22 and ¥20.35 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002007.SZ Signals & Forecast
The Hualan Biological Engineering Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥19.80. On a fall, the stock will find some support from the long-term average at approximately ¥19.37. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -2.87%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hualan Biological Engineering Inc stock
Hualan Biological Engineering Inc finds support from accumulated volume at ¥19.53 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 ¥0.350 (1.79%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002007.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Hualan Biological Engineering Inc to open at ¥19.70, and during the day (based on 14 day Average True Range), to move between ¥18.98 and ¥20.22, which gives a possible trading interval of +/-¥0.617 (+/-3.15%) up or down from last closing price. If Hualan Biological Engineering Inc takes out the full calculated possible swing range there will be an estimated 6.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥19.53 (0.36%) than the resistance at ¥19.82 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hualan Biological Engineering Inc stock A Buy?
Hualan Biological Engineering Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.022 Sell Candidate Downgraded
Predicted Opening Price for Hualan Biological Engineering Inc of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥19.70 ( 0.493%) | ¥19.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002007.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.05 | 2.28 % | |
| R2 | 19.91 | 1.60 % | ||
| R1 | 19.83 | 1.18 % | ||
| Current price: | 19.60 | |||
| Support | S1 | 19.56 | -0.189 % | |
| S2 | 19.48 | -0.610 % | ||
| S3 | 19.35 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.99 | 1.99 % | |
| R2 | 19.91 | 1.58 % | ||
| R1 | 19.82 | 1.12 % | ||
| Current price | 19.60 | |||
| Support | S1 | 19.53 | -0.357% | |
| S2 | 19.46 | -0.714% | ||
| S3 | 18.54 | -5.41% |
002007 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.300 | 1.35% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.200 | 0.94% |
| 3 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | ¥0.300 | 0.82% |
| 4 | Apr 27, 2020 | Apr 27, 2020 | Apr 27, 2020 | ¥0.400 | 1.01% |
| 5 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | ¥0.205 | 0.97% |
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