QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. Stock Forecast
Green day on Wednesday for QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD.
(Updated on May 08, 2024)
The QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock price gained 1.60% on the last trading day (Wednesday, 8th May 2024), rising from ¥8.14 to ¥8.27. During the last trading day the stock fluctuated 8.65% from a day low at ¥7.75 to a day high of ¥8.42. The price has risen in 7 of the last 10 days and is up by 22.88% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 13 million shares were bought and sold for approximately ¥103.67 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥8.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.83% during the next 3 months and, with a 90% probability hold a price between ¥7.29 and ¥9.28 at the end of this 3-month period.
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002365.SZ Signals & Forecast
The QIANJIANG YONGAN PHARMACEUTICAL 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 ¥7.84 and ¥7.38. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, May 06, 2024, and so far it has fallen -0.84%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock
QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. finds support from accumulated volume at ¥8.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥0.670 between high and low, or 8.65%. For the last week, the stock has had daily average volatility of 9.42%.
Our recommended stop-loss: ¥7.99 (-3.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (002365.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. to open at ¥8.15, and during the day (based on 14 day Average True Range), to move between ¥7.74 and ¥8.80, which gives a possible trading interval of +/-¥0.533 (+/-6.45%) 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 12.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥8.34 (0.85%) than the support at ¥8.14 (1.57%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. stock to perform well in the short-term.
Current score: 4.410 Buy Candidate Unchanged
Predicted Opening Price for QIANJIANG YONGAN PHARMACEUTICAL CO.,LTD. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥8.15 ( 1.49%) | ¥8.27 |
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 | 8.82 | 6.61 % | |
| R2 | 8.56 | 3.52 % | ||
| R1 | 8.40 | 1.60 % | ||
| Current price: | 8.27 | |||
| Support | S1 | 7.89 | -4.59 % | |
| S2 | 7.73 | -6.50 % | ||
| S3 | 7.48 | -9.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 8.34 | 0.85 % | ||
| Current price | 8.27 | |||
| Support | S1 | 8.14 | -1.57% | |
| S2 | 7.23 | -12.58% | ||
| S3 | 6.91 | -16.44% |
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% |
FAQ
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