Changzhou Qianhong Bio Pharma Co Ltd Stock Forecast
Stronger technical forecast for Changzhou Qianhong Bio Pharma Co Ltd stock price after Friday trading.
(Updated on May 10, 2024)
The Changzhou Qianhong Bio Pharma Co Ltd stock price gained 0.524% on the last trading day (Friday, 10th May 2024), rising from ¥5.73 to ¥5.76. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.49% from a day low at ¥5.57 to a day high of ¥5.82. The price has risen in 8 of the last 10 days and is up by 20% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 22 million shares were bought and sold for approximately ¥124.66 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.
Given the current short-term trend, the stock is expected to rise 2.54% during the next 3 months and, with a 90% probability hold a price between ¥4.68 and ¥5.91 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002550.SZ Signals & Forecast
Mostly positive signals in the chart today. The Changzhou Qianhong Bio Pharma 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 ¥5.53 and ¥5.04. 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 27.15%. 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 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.
Support, Risk & Stop-loss for Changzhou Qianhong Bio Pharma Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥5.19 and ¥5.18. 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, Changzhou Qianhong Bio Pharma Co Ltd finds support just below today's level at ¥5.19. If this is broken, then the next support from accumulated volume will be at ¥5.18 and ¥4.99.
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 ¥0.250 between high and low, or 4.49%. For the last week, the stock has had daily average volatility of 7.83%.
The Changzhou Qianhong Bio Pharma Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥5.61 (-2.68%) (This stock has high daily movements and this gives high risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (002550.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Changzhou Qianhong Bio Pharma Co Ltd to open at ¥5.72, and during the day (based on 14 day Average True Range), to move between ¥5.48 and ¥6.04, which gives a possible trading interval of +/-¥0.280 (+/-4.86%) up or down from last closing price. If Changzhou Qianhong Bio Pharma Co Ltd takes out the full calculated possible swing range there will be an estimated 9.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥5.19, some ¥0.570 (9.90%) from the current price of ¥5.76, our system finds the risk reward attractive.
Is Changzhou Qianhong Bio Pharma Co Ltd stock A Buy?
Changzhou Qianhong Bio Pharma Co Ltd holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.437 Strong Buy Candidate Upgraded
Predicted Opening Price for Changzhou Qianhong Bio Pharma Co Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥5.72 ( 0.752%) | ¥5.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002550.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.97 | 3.59 % | |
| R2 | 5.87 | 1.93 % | ||
| R1 | 5.81 | 0.91 % | ||
| Current price: | 5.76 | |||
| Support | S1 | 5.62 | -2.41 % | |
| S2 | 5.56 | -3.43 % | ||
| S3 | 5.47 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.76 | |||
| Support | S1 | 5.19 | -9.90% | |
| S2 | 5.18 | -10.07% | ||
| S3 | 4.99 | -13.37% |
002550 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.120 | 2.13% |
| 2 | May 25, 2022 | May 25, 2022 | May 25, 2022 | ¥0.120 | 2.15% |
| 3 | May 21, 2021 | May 21, 2021 | May 21, 2021 | ¥0.120 | 2.94% |
| 4 | May 27, 2020 | May 27, 2020 | May 27, 2020 | ¥0.250 | 5.98% |
| 5 | May 28, 2019 | May 28, 2019 | May 28, 2019 | ¥0.120 | 2.66% |
FAQ
Click here for our free guide on how to buy Changzhou Qianhong Bio Pharma Co Ltd Stock.
