Cachet Pharmaceutical Co., Ltd Stock Forecast

Cachet Pharmaceutical Co., Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)

002462.SZ Signals & Forecast

There are mixed signals in the stock today. The Cachet 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 ¥12.27. On a fall, the stock will find some support from the short-term average at ¥11.92. 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. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -4.45%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Cachet Pharmaceutical Co., Ltd stock

Cachet Pharmaceutical Co., Ltd finds support from accumulated volume at ¥11.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ¥0.310 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 2.83%.

Our recommended stop-loss: ¥11.70 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (002462.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Cachet Pharmaceutical Co., Ltd to open at ¥12.15, and during the day (based on 14 day Average True Range), to move between ¥11.81 and ¥12.67, which gives a possible trading interval of +/-¥0.433 (+/-3.54%) up or down from last closing price. If Cachet Pharmaceutical Co., Ltd takes out the full calculated possible swing range there will be an estimated 7.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥12.26 (0.16%) than the support at ¥11.90 (2.78%), 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 Cachet Pharmaceutical Co., Ltd stock A Buy?

Cachet Pharmaceutical Co., Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.994 Hold/Accumulate Upgraded

Predicted Opening Price for Cachet Pharmaceutical Co., Ltd of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.