Changjiang Runfa Medicine Co Ltd Stock Forecast
High volatility in Changjiang Runfa Medicine Co Ltd stock price on Wednesday which ended trading at ¥1.46
(Updated on May 22, 2024)
The Changjiang Runfa Medicine Co Ltd stock price fell by -5.19% on the last day (Wednesday, 22nd May 2024) from ¥1.54 to ¥1.46. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 17.12% from a day low at ¥1.46 to a day high of ¥1.71. The price has fallen in 10 of the last 10 days and is down by -40.16% for this period. Volume has increased on the last day by 355 thousand 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, 662 thousand shares were bought and sold for approximately ¥966.23 thousand.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (¥1.85) are considered to be a "second chance" to get out. According to the fan-theory ¥1.20 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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002435.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The Changjiang Runfa Medicine Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥1.72 and ¥2.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -48.59%. 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). Changjiang Runfa Medicine Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A sell signal from a double top formation was found on Wednesday, March 20, 2024 with a target of ¥3.10. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Changjiang Runfa Medicine Co Ltd stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.250 between high and low, or 17.12%. For the last week, the stock has had daily average volatility of 16.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002435.SZ) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Changjiang Runfa Medicine Co Ltd to open at ¥1.54, and during the day (based on 14 day Average True Range), to move between ¥1.23 and ¥1.69, which gives a possible trading interval of +/-¥0.229 (+/-15.67%) up or down from last closing price. If Changjiang Runfa Medicine Co Ltd takes out the full calculated possible swing range there will be an estimated 31.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ¥1.62, some ¥0.160 (10.96%) from the current price of ¥1.46, our system finds the risk reward not very attractive.
Earnings coming up
Changjiang Runfa Medicine Co Ltd will release earnings BMO on Tuesday, May 28, 2024. We will update the financials statements for Changjiang Runfa Medicine Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.30% in the first trading day after earnings release.
Is Changjiang Runfa Medicine Co Ltd stock A Buy?
Changjiang Runfa Medicine Co Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -6.752 Strong Sell Candidate Unchanged
Predicted Opening Price for Changjiang Runfa Medicine Co Ltd of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ¥1.54 ( 5.71%) | ¥1.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002435.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.79 | 22.83 % | |
| R2 | 1.70 | 16.29 % | ||
| R1 | 1.64 | 12.25 % | ||
| Current price: | 1.46 | |||
| Support | S1 | 1.45 | -0.83 % | |
| S2 | 1.39 | -4.87 % | ||
| S3 | 1.29 | -11.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 23.29 % | |
| R2 | 1.71 | 17.12 % | ||
| R1 | 1.62 | 10.96 % | ||
| Current price | 1.46 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
002435 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.0500 | 0.85% |
| 2 | Jun 18, 2019 | Jun 18, 2019 | Jun 18, 2019 | ¥0.0667 | 1.36% |
| 3 | Jun 08, 2018 | Jun 08, 2018 | Jun 08, 2018 | ¥0.196 | 2.01% |
| 4 | Jul 12, 2017 | Jul 12, 2017 | Jul 12, 2017 | ¥0.0392 | 0.404% |
| 5 | Jun 15, 2016 | Jun 15, 2016 | Jun 15, 2016 | ¥0.0588 | 0.617% |
FAQ
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