Haisco Pharmaceutical Group Co Ltd Stock Forecast
Haisco Pharmaceutical Group Co Ltd stock downgraded from Strong Buy Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Haisco Pharmaceutical Group Co Ltd stock price gained 1.47% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥29.92 to ¥30.36. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 8.78% from a day low at ¥28.13 to a day high of ¥30.60. The price has risen in 9 of the last 10 days and is up by 14.83% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately ¥117.77 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.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥31.26 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 25.22% during the next 3 months and, with a 90% probability hold a price between ¥32.04 and ¥39.14 at the end of this 3-month period.
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002653.SZ Signals & Forecast
Mostly positive signals in the chart today. The Haisco Pharmaceutical Group 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 ¥28.22 and ¥26.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 19.53%. 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 Haisco Pharmaceutical Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥27.19 and ¥26.40. 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, Haisco Pharmaceutical Group Co Ltd finds support just below today's level at ¥27.19. If this is broken, then the next support from accumulated volume will be at ¥26.40 and ¥23.54.
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 ¥2.47 between high and low, or 8.78%. For the last week, the stock has had daily average volatility of 10.23%.
Since the Haisco Pharmaceutical Group Co Ltd has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥29.43 (-3.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (002653.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Haisco Pharmaceutical Group Co Ltd to open at ¥29.70, and during the day (based on 14 day Average True Range), to move between ¥28.69 and ¥32.03, which gives a possible trading interval of +/-¥1.67 (+/-5.49%) up or down from last closing price. If Haisco Pharmaceutical Group Co Ltd takes out the full calculated possible swing range there will be an estimated 10.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥27.19, some ¥3.17 (10.44%) from the current price of ¥30.36, our system finds the risk reward attractive.
Is Haisco Pharmaceutical Group Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Haisco Pharmaceutical Group Co Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.858 Buy Candidate Downgraded
Predicted Opening Price for Haisco Pharmaceutical Group Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥29.70 ( 2.18%) | ¥30.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002653.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.17 | 5.95 % | |
| R2 | 31.22 | 2.84 % | ||
| R1 | 30.64 | 0.92 % | ||
| Current price: | 30.36 | |||
| Support | S1 | 28.75 | -5.29 % | |
| S2 | 28.17 | -7.21 % | ||
| S3 | 27.23 | -10.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 30.36 | |||
| Support | S1 | 27.19 | -10.44% | |
| S2 | 26.40 | -13.04% | ||
| S3 | 23.54 | -22.46% |
002653 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | ¥0.185 | 1.13% |
| 2 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | ¥0.372 | 1.39% |
| 3 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.0919 | 0.372% |
| 4 | May 15, 2019 | May 15, 2019 | May 15, 2019 | ¥0.190 | 1.61% |
| 5 | Jul 02, 2018 | Jul 02, 2018 | Jul 02, 2018 | ¥0.280 | 2.59% |
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