Shandong Sinobioway Biomedicine Co Ltd Stock Forecast
Big movements in Shandong Sinobioway Biomedicine Co Ltd stock price on Thursday moving 11.11% between high and low
(Updated on May 16, 2024)
The Shandong Sinobioway Biomedicine Co Ltd stock price fell by -0.562% on the last day (Thursday, 16th May 2024) from ¥12.46 to ¥12.39. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 11.11% from a day low at ¥12.33 to a day high of ¥13.70. The price has fallen in 8 of the last 10 days and is down by -10.67% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately ¥38.73 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥12.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.56% during the next 3 months and, with a 90% probability hold a price between ¥14.23 and ¥16.89 at the end of this 3-month period.
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002581.SZ Signals & Forecast
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. The Shandong Sinobioway Biomedicine Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥13.04 and ¥12.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -10.67%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shandong Sinobioway Biomedicine Co Ltd stock
Shandong Sinobioway Biomedicine Co Ltd finds support from accumulated volume at ¥12.21 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 ¥1.37 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 7.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002581.SZ) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Shandong Sinobioway Biomedicine Co Ltd to open at ¥12.81, and during the day (based on 14 day Average True Range), to move between ¥11.52 and ¥13.26, which gives a possible trading interval of +/-¥0.87 (+/-6.99%) up or down from last closing price. If Shandong Sinobioway Biomedicine Co Ltd takes out the full calculated possible swing range there will be an estimated 13.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥12.21 (1.45%) than the resistance at ¥12.74 (2.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shandong Sinobioway Biomedicine Co Ltd will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Shandong Sinobioway Biomedicine Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.61% in the first trading day after earnings release.
Is Shandong Sinobioway Biomedicine Co Ltd stock A Buy?
The Shandong Sinobioway Biomedicine Co Ltd stock holds several negative signals and despite the positive trend, we believe Shandong Sinobioway Biomedicine Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.092 Sell Candidate Unchanged
Predicted Opening Price for Shandong Sinobioway Biomedicine Co Ltd of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ¥12.81 ( 3.36%) | ¥12.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002581.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.18 | 14.42 % | |
| R2 | 13.65 | 10.20 % | ||
| R1 | 13.33 | 7.59 % | ||
| Current price: | 12.39 | |||
| Support | S1 | 12.28 | -0.86 % | |
| S2 | 11.96 | -3.47 % | ||
| S3 | 11.44 | -7.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.51 | 9.04 % | |
| R2 | 13.42 | 8.31 % | ||
| R1 | 12.74 | 2.82 % | ||
| Current price | 12.39 | |||
| Support | S1 | 12.21 | -1.45% | |
| S2 | 11.41 | -7.91% | ||
| S3 | 10.93 | -11.78% |
002581 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2016 | Jun 21, 2016 | Jun 21, 2016 | ¥0.0500 | 0.185% |
| 2 | Jun 06, 2014 | Jun 06, 2014 | Jun 06, 2014 | ¥0.250 | 2.92% |
| 3 | May 22, 2013 | May 22, 2013 | May 22, 2013 | ¥0.192 | 3.09% |
| 4 | Apr 18, 2012 | Apr 18, 2012 | Apr 18, 2012 | ¥0.192 | 2.97% |
| 5 | Jul 08, 2011 | Jul 08, 2011 | Jul 08, 2011 | ¥0.154 | 1.90% |
FAQ
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