Beijing SL Pharmaceutical Co Ltd Stock Forecast
Beijing SL Pharmaceutical Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on May 06, 2024)
The Beijing SL Pharmaceutical Co Ltd stock price gained 3.02% on the last trading day (Monday, 6th May 2024), rising from ¥8.62 to ¥8.88. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.95% from a day low at ¥8.61 to a day high of ¥8.95. The price has risen in 7 of the last 10 days and is up by 5.97% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 17 million shares were bought and sold for approximately ¥151.15 million.
The stock lies in the middle of a wide and 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 -6.21% during the next 3 months and, with a 90% probability hold a price between ¥7.44 and ¥8.60 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.
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002038.SZ Signals & Forecast
Mostly positive signals in the chart today. The Beijing SL Pharmaceutical 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 ¥8.44 and ¥8.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 11.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Beijing SL Pharmaceutical Co Ltd stock
Beijing SL Pharmaceutical Co Ltd finds support from accumulated volume at ¥8.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.340 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 4.59%.
Our recommended stop-loss: ¥8.54 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (002038.SZ) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Beijing SL Pharmaceutical Co Ltd to open at ¥8.81, and during the day (based on 14 day Average True Range), to move between ¥8.54 and ¥9.22, which gives a possible trading interval of +/-¥0.341 (+/-3.84%) up or down from last closing price. If Beijing SL Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 7.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.01 (1.46%) than the support at ¥8.74 (1.58%), 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 Beijing SL Pharmaceutical Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.809 Buy Candidate Upgraded
Predicted Opening Price for Beijing SL Pharmaceutical Co Ltd of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ¥8.81 ( 0.751%) | ¥8.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002038.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.15 | 3.08 % | |
| R2 | 9.02 | 1.62 % | ||
| R1 | 8.94 | 0.712 % | ||
| Current price: | 8.88 | |||
| Support | S1 | 8.68 | -2.21 % | |
| S2 | 8.60 | -3.12 % | ||
| S3 | 8.47 | -4.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.42 | 6.08 % | |
| R2 | 9.02 | 1.58 % | ||
| R1 | 9.01 | 1.46 % | ||
| Current price | 8.88 | |||
| Support | S1 | 8.74 | -1.58% | |
| S2 | 8.62 | -2.93% | ||
| S3 | 8.38 | -5.63% |
002038 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.100 | 1.02% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ¥0.100 | 1.03% |
| 3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | ¥0.100 | 1.00% |
| 4 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | ¥0.200 | 1.55% |
| 5 | Jul 04, 2019 | Jul 04, 2019 | Jul 04, 2019 | ¥0.200 | 1.29% |
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