Guizhou Xinbang Pharmaceutical Co.,Ltd. Stock Forecast
Stronger technical forecast for Guizhou Xinbang Pharmaceutical Co.,Ltd. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Guizhou Xinbang Pharmaceutical Co.,Ltd. stock price gained 1.05% on the last trading day (Friday, 26th Apr 2024), rising from ¥3.81 to ¥3.85. During the last trading day the stock fluctuated 3.49% from a day low at ¥3.73 to a day high of ¥3.86. The price has been going up and down for this period, and there has been a 1.85% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately ¥72.99 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Guizhou Xinbang Pharmaceutical Co.,Ltd. stock with a 90% probability to be traded between ¥3.33 and ¥3.96 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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002390.SZ Signals & Forecast
Mostly positive signals in the chart today. The Guizhou Xinbang Pharmaceutical Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥3.77 and ¥3.84. 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 6.65%. 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 Guizhou Xinbang Pharmaceutical Co.,Ltd. stock
Guizhou Xinbang Pharmaceutical Co.,Ltd. finds support from accumulated volume at ¥3.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.130 (3.49%) between high and low. For the last week, the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: ¥3.68 (-4.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002390.SZ) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Guizhou Xinbang Pharmaceutical Co.,Ltd. to open at ¥3.81, and during the day (based on 14 day Average True Range), to move between ¥3.73 and ¥3.97, which gives a possible trading interval of +/-¥0.116 (+/-3.02%) up or down from last closing price. If Guizhou Xinbang Pharmaceutical Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥3.88 (0.78%) than the support at ¥3.81 (1.04%), 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 Guizhou Xinbang Pharmaceutical Co.,Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Guizhou Xinbang Pharmaceutical Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.635 Buy Candidate Upgraded
Predicted Opening Price for Guizhou Xinbang Pharmaceutical Co.,Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ¥3.81 ( 0.95%) | ¥3.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002390.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.94 | 2.42 % | |
| R2 | 3.89 | 1.13 % | ||
| R1 | 3.86 | 0.337 % | ||
| Current price: | 3.85 | |||
| Support | S1 | 3.76 | -2.24 % | |
| S2 | 3.73 | -3.04 % | ||
| S3 | 3.68 | -4.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.98 | 3.38 % | |
| R2 | 3.94 | 2.34 % | ||
| R1 | 3.88 | 0.779 % | ||
| Current price | 3.85 | |||
| Support | S1 | 3.81 | -1.04% | |
| S2 | 3.80 | -1.30% | ||
| S3 | 3.69 | -4.16% |
002390 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | ¥0.0600 | 1.28% |
| 2 | May 24, 2022 | May 24, 2022 | May 24, 2022 | ¥0.0600 | 1.30% |
| 3 | Jun 22, 2018 | Jun 22, 2018 | Jun 22, 2018 | ¥0.0300 | 0.419% |
| 4 | Jun 23, 2017 | Jun 23, 2017 | Jun 23, 2017 | ¥0.0300 | 0.343% |
| 5 | Jun 06, 2016 | Jun 06, 2016 | Jun 06, 2016 | ¥0.0300 | 0.331% |
FAQ
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