Zhejiang Yatai Pharmaceutical Co.,Ltd. Stock Forecast
Zhejiang Yatai Pharmaceutical Co.,Ltd. stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The Zhejiang Yatai Pharmaceutical Co.,Ltd. stock price gained 0.92% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥3.25 to ¥3.28. During the last trading day the stock fluctuated 3.79% from a day low at ¥3.17 to a day high of ¥3.29. The price has risen in 7 of the last 10 days and is up by 13.1% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 11 million shares were bought and sold for approximately ¥36.55 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zhejiang Yatai Pharmaceutical Co.,Ltd. stock with a 90% probability to be traded between ¥2.82 and ¥3.79 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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002370.SZ Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Yatai 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 ¥3.41. On a fall, the stock will find some support from the short-term average at ¥3.15. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.10%. Further rise is indicated until a new top pivot has been found. 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.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 34.45% to ¥4.41 within 45 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Zhejiang Yatai Pharmaceutical Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥3.00 and ¥2.93. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zhejiang Yatai Pharmaceutical Co.,Ltd. finds support just below today's level at ¥3.00. If this is broken, then the next support from accumulated volume will be at ¥2.93 and ¥2.89.
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 ¥0.120 between high and low, or 3.79%. For the last week, the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002370.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Zhejiang Yatai Pharmaceutical Co.,Ltd. to open at ¥3.25, and during the day (based on 14 day Average True Range), to move between ¥3.07 and ¥3.49, which gives a possible trading interval of +/-¥0.210 (+/-6.42%) up or down from last closing price. If Zhejiang Yatai Pharmaceutical Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 12.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.54 (7.93%) than the support at ¥3.00 (8.54%), 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 Zhejiang Yatai Pharmaceutical Co.,Ltd. stock A Buy?
Zhejiang Yatai Pharmaceutical Co.,Ltd. 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: -2.283 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Yatai Pharmaceutical Co.,Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥3.25 ( 1.02%) | ¥3.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002370.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.37 | 2.64 % | |
| R2 | 3.32 | 1.24 % | ||
| R1 | 3.29 | 0.381 % | ||
| Current price: | 3.28 | |||
| Support | S1 | 3.20 | -2.41 % | |
| S2 | 3.17 | -3.28 % | ||
| S3 | 3.13 | -4.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.85 | 17.38 % | |
| R2 | 3.79 | 15.55 % | ||
| R1 | 3.54 | 7.93 % | ||
| Current price | 3.28 | |||
| Support | S1 | 3.00 | -8.54% | |
| S2 | 2.93 | -10.67% | ||
| S3 | 2.89 | -11.89% |
002370 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | ¥0.0500 | 0.341% |
| 2 | Jun 12, 2018 | Jun 12, 2018 | Jun 12, 2018 | ¥0.100 | 0.575% |
| 3 | Jun 09, 2017 | Jun 09, 2017 | Jun 09, 2017 | ¥0.0500 | 0.341% |
| 4 | Apr 29, 2016 | Apr 29, 2016 | Apr 29, 2016 | ¥0.0500 | 0.333% |
| 5 | Jun 17, 2015 | Jun 17, 2015 | Jun 17, 2015 | ¥0.0500 | 0.414% |
FAQ
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