QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. Stock Forecast
QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
The QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock price fell by -0.415% on the last day (Friday, 26th Apr 2024) from ¥7.23 to ¥7.20. During the last trading day the stock fluctuated 9.81% from a day low at ¥6.83 to a day high of ¥7.50. The price has fallen in 6 of the last 10 days and is down by -3.61% for this period. Volume has increased on the last day by 2 million 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, 4 million shares were bought and sold for approximately ¥31.09 million.
The stock lies in the middle of a very 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 4.87% during the next 3 months and, with a 90% probability hold a price between ¥6.27 and ¥8.16 at the end of this 3-month period.
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002365.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥7.23. On a fall, the stock will find some support from the short-term average at ¥6.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -6.37%. Further fall is indicated until a new bottom pivot has been found. 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 QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock
QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. finds support from accumulated volume at ¥6.91 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 ¥0.670 between high and low, or 9.81%. For the last week, the stock has had daily average volatility of 6.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002365.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. to open at ¥7.18, and during the day (based on 14 day Average True Range), to move between ¥6.75 and ¥7.65, which gives a possible trading interval of +/-¥0.454 (+/-6.31%) up or down from last closing price. If QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. takes out the full calculated possible swing range there will be an estimated 12.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥7.23 (0.42%) than the support at ¥6.91 (4.03%), 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 QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock A Buy?
The QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock holds several negative signals and despite the positive trend, we believe QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.864 Sell Candidate Downgraded
Predicted Opening Price for QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥7.18 ( 0.324%) | ¥7.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002365.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.85 | 8.98 % | |
| R2 | 7.59 | 5.43 % | ||
| R1 | 7.43 | 3.23 % | ||
| Current price: | 7.20 | |||
| Support | S1 | 6.92 | -3.88 % | |
| S2 | 6.76 | -6.07 % | ||
| S3 | 6.51 | -9.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.47 | 3.75 % | |
| R2 | 7.42 | 3.06 % | ||
| R1 | 7.23 | 0.417 % | ||
| Current price | 7.20 | |||
| Support | S1 | 6.91 | -4.03% | |
| S2 | 6.89 | -4.31% | ||
| S3 | 5.66 | -21.39% |
002365 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | ¥0.100 | 1.03% |
| 2 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ¥0.100 | 1.06% |
| 3 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.150 | 1.56% |
| 4 | May 27, 2019 | May 27, 2019 | May 27, 2019 | ¥0.101 | 0.93% |
| 5 | May 15, 2018 | May 15, 2018 | May 15, 2018 | ¥0.0667 | 0.368% |
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