Zhejiang Huatong Pharmaceutical Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Zhejiang Huatong Pharmaceutical Co Ltd stock price down 0.430% on Friday
(Updated on May 24, 2024)
The Zhejiang Huatong Pharmaceutical Co Ltd stock price fell by -0.430% on the last day (Friday, 24th May 2024) from ¥9.30 to ¥9.26. During the last trading day the stock fluctuated 2.93% from a day low at ¥9.21 to a day high of ¥9.48. The price has been going up and down for this period, and there has been a -2.11% loss for the last 2 weeks. 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 -1 million shares and in total, 3 million shares were bought and sold for approximately ¥30.96 million.
The stock lies the upper part of a falling 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 ¥9.36 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.96% during the next 3 months and, with a 90% probability hold a price between ¥7.94 and ¥8.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002758.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 Zhejiang Huatong Pharmaceutical 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 ¥9.32 and ¥9.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -2.42%. 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 Zhejiang Huatong Pharmaceutical Co Ltd stock
Zhejiang Huatong Pharmaceutical Co Ltd finds support from accumulated volume at ¥9.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.270 between high and low, or 2.93%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002758.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Zhejiang Huatong Pharmaceutical Co Ltd to open at ¥9.32, and during the day (based on 14 day Average True Range), to move between ¥9.01 and ¥9.51, which gives a possible trading interval of +/-¥0.251 (+/-2.71%) up or down from last closing price. If Zhejiang Huatong Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 5.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.25 (0.11%) than the resistance at ¥9.70 (4.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Huatong Pharmaceutical Co Ltd stock A Buy?
Zhejiang Huatong Pharmaceutical Co Ltd holds several negative signals and is within a 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: -4.848 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Huatong Pharmaceutical Co Ltd of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥9.32 ( 0.612%) | ¥9.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002758.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.59 | 3.53 % | |
| R2 | 9.48 | 2.41 % | ||
| R1 | 9.42 | 1.73 % | ||
| Current price: | 9.26 | |||
| Support | S1 | 9.21 | -0.502 % | |
| S2 | 9.15 | -1.19 % | ||
| S3 | 9.05 | -2.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.12 | 9.29 % | |
| R2 | 10.00 | 7.99 % | ||
| R1 | 9.70 | 4.75 % | ||
| Current price | 9.26 | |||
| Support | S1 | 9.25 | -0.108% | |
| S2 | 9.14 | -1.30% | ||
| S3 | 9.08 | -1.94% |
002758 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | May 28, 2024 | ¥0.300 | 3.24% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.300 | 2.39% |
| 3 | May 30, 2022 | May 30, 2022 | May 30, 2022 | ¥0.300 | 2.15% |
| 4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | ¥0.180 | 1.87% |
| 5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | ¥0.0800 | 0.699% |
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