Jinghua Pharmaceutical Group Co Ltd Stock Forecast
Jinghua Pharmaceutical Group Co Ltd stock upgraded to Strong Buy Candidate.
(Updated on May 08, 2024)
The Jinghua Pharmaceutical Group Co Ltd stock price gained 0.500% on the last trading day (Wednesday, 8th May 2024), rising from ¥8.00 to ¥8.04. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.70% from a day low at ¥7.84 to a day high of ¥8.13. The price has risen in 10 of the last 10 days and is up by 7.06% 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, 16 million shares were bought and sold for approximately ¥129.43 million.
The stock lies in the middle of a wide and weak 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 3.84% during the next 3 months and, with a 90% probability hold a price between ¥7.46 and ¥9.14 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002349.SZ Signals & Forecast
Mostly positive signals in the chart today. The Jinghua Pharmaceutical Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.89 and ¥7.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.08%. 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 Jinghua Pharmaceutical Group Co Ltd stock
Jinghua Pharmaceutical Group Co Ltd finds support from accumulated volume at ¥7.90 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 ¥0.290 between high and low, or 3.70%. For the last week, the stock has had daily average volatility of 2.86%.
Since the Jinghua Pharmaceutical Group Co Ltd has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥7.74 (-3.77%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (002349.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Jinghua Pharmaceutical Group Co Ltd to open at ¥8.00, and during the day (based on 14 day Average True Range), to move between ¥7.75 and ¥8.33, which gives a possible trading interval of +/-¥0.293 (+/-3.65%) up or down from last closing price. If Jinghua Pharmaceutical Group Co Ltd takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.90 (1.74%) than the resistance at ¥8.50 (5.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jinghua Pharmaceutical Group Co Ltd stock A Buy?
Jinghua Pharmaceutical Group Co Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.264 Strong Buy Candidate Upgraded
Predicted Opening Price for Jinghua Pharmaceutical Group Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥8.00 ( 0.456%) | ¥8.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002349.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.29 | 3.15 % | |
| R2 | 8.18 | 1.77 % | ||
| R1 | 8.11 | 0.92 % | ||
| Current price: | 8.04 | |||
| Support | S1 | 7.89 | -1.83 % | |
| S2 | 7.82 | -2.69 % | ||
| S3 | 7.71 | -4.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.61 | 7.09 % | |
| R2 | 8.55 | 6.34 % | ||
| R1 | 8.50 | 5.72 % | ||
| Current price | 8.04 | |||
| Support | S1 | 7.90 | -1.74% | |
| S2 | 7.79 | -3.11% | ||
| S3 | 7.40 | -7.96% |
002349 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ¥0.0800 | 0.85% |
| 2 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | ¥0.0600 | 0.399% |
| 3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | ¥0.0410 | 0.795% |
| 4 | May 08, 2019 | May 08, 2019 | May 08, 2019 | ¥0.0500 | 0.82% |
| 5 | May 10, 2018 | May 10, 2018 | May 10, 2018 | ¥0.0500 | 0.608% |
FAQ
Click here for our free guide on how to buy Jinghua Pharmaceutical Group Co Ltd Stock.
