Blue Sail Medical Co Ltd Stock Forecast
Blue Sail Medical Co Ltd stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Blue Sail Medical Co Ltd stock price fell by -1.04% on the last day (Wednesday, 8th May 2024) from ¥5.78 to ¥5.72. During the last trading day the stock fluctuated 5.77% from a day low at ¥5.55 to a day high of ¥5.87. The price has risen in 8 of the last 10 days and is up by 11.94% over the past 2 weeks. Volume has increased on the last day by 3 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, 11 million shares were bought and sold for approximately ¥64.54 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 4.57% during the next 3 months and, with a 90% probability hold a price between ¥5.31 and ¥6.36 at the end of this 3-month period.
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002382.SZ Signals & Forecast
The Blue Sail Medical 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 ¥5.63 and ¥5.56. 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). 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 Tuesday, May 07, 2024, and so far it has fallen -1.04%. Further fall is indicated until a new bottom pivot has been found. 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 Blue Sail Medical Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.41 and ¥5.33. 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, Blue Sail Medical Co Ltd finds support just below today's level at ¥5.41. If this is broken, then the next support from accumulated volume will be at ¥5.33 and ¥5.19.
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 ¥0.320 between high and low, or 5.77%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: ¥5.54 (-3.07%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (002382.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Blue Sail Medical Co Ltd to open at ¥5.71, and during the day (based on 14 day Average True Range), to move between ¥5.43 and ¥6.01, which gives a possible trading interval of +/-¥0.286 (+/-5.01%) up or down from last closing price. If Blue Sail Medical Co Ltd takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥5.78 (1.05%) than the support at ¥5.41 (5.42%), 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 Blue Sail Medical 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 Blue Sail Medical Co Ltd 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: 2.258 Buy Candidate Upgraded
Predicted Opening Price for Blue Sail Medical Co Ltd of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥5.71 ( 0.117%) | ¥5.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002382.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.03 | 5.48 % | |
| R2 | 5.91 | 3.34 % | ||
| R1 | 5.84 | 2.02 % | ||
| Current price: | 5.72 | |||
| Support | S1 | 5.59 | -2.25 % | |
| S2 | 5.52 | -3.57 % | ||
| S3 | 5.39 | -5.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.94 | 3.85 % | |
| R2 | 5.92 | 3.50 % | ||
| R1 | 5.78 | 1.05 % | ||
| Current price | 5.72 | |||
| Support | S1 | 5.41 | -5.42% | |
| S2 | 5.33 | -6.82% | ||
| S3 | 5.19 | -9.27% |
002382 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.400 | 5.35% |
| 2 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | ¥0.400 | 1.99% |
| 3 | May 15, 2020 | May 15, 2020 | May 15, 2020 | ¥0.100 | 0.613% |
| 4 | May 27, 2019 | May 27, 2019 | May 27, 2019 | ¥0.0400 | 0.300% |
| 5 | Mar 16, 2018 | Mar 16, 2018 | Mar 16, 2018 | ¥0.200 | 1.08% |
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