Zhuhai Sailong Pharmaceutical Co Ltd Stock Forecast
Green day on Friday for Zhuhai Sailong Pharmaceutical Co Ltd
(Updated on May 17, 2024)
The Zhuhai Sailong Pharmaceutical Co Ltd stock price gained 0.680% on the last trading day (Friday, 17th May 2024), rising from ¥10.29 to ¥10.36. During the last trading day the stock fluctuated 7.15% from a day low at ¥10.21 to a day high of ¥10.94. The price has risen in 7 of the last 10 days and is up by 2.37% over the past 2 weeks. Volume fell on the last day by -621 thousand shares and in total, 3 million shares were bought and sold for approximately ¥27.81 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Zhuhai Sailong Pharmaceutical Co Ltd stock with a 90% probability to be traded between ¥9.04 and ¥12.76 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002898.SZ Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhuhai Sailong Pharmaceutical 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 ¥10.48 and ¥10.38. 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 -5.04%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zhuhai Sailong Pharmaceutical Co Ltd stock
Zhuhai Sailong Pharmaceutical Co Ltd finds support from accumulated volume at ¥9.90 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 ¥0.730 between high and low, or 7.15%. For the last week, the stock has had daily average volatility of 8.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002898.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Zhuhai Sailong Pharmaceutical Co Ltd to open at ¥10.50, and during the day (based on 14 day Average True Range), to move between ¥9.61 and ¥11.11, which gives a possible trading interval of +/-¥0.749 (+/-7.23%) up or down from last closing price. If Zhuhai Sailong Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 14.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥9.90 (4.44%) than the resistance at ¥11.00 (6.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhuhai Sailong Pharmaceutical Co Ltd stock A Buy?
Zhuhai Sailong Pharmaceutical Co Ltd holds several negative signals and is within a very wide and 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: -2.317 Sell Candidate Unchanged
Predicted Opening Price for Zhuhai Sailong Pharmaceutical Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥10.50 ( 1.38%) | ¥10.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002898.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.23 | 8.43 % | |
| R2 | 10.95 | 5.74 % | ||
| R1 | 10.78 | 4.08 % | ||
| Current price: | 10.36 | |||
| Support | S1 | 10.22 | -1.31 % | |
| S2 | 10.05 | -2.97 % | ||
| S3 | 9.77 | -5.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.49 | 20.56 % | |
| R2 | 12.18 | 17.57 % | ||
| R1 | 11.00 | 6.18 % | ||
| Current price | 10.36 | |||
| Support | S1 | 9.90 | -4.44% | |
| S2 | 9.55 | -7.82% | ||
| S3 | 8.89 | -14.19% |
002898 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | ¥0.0300 | 0.243% |
| 2 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | ¥0.182 | 1.42% |
| 3 | Nov 01, 2018 | Nov 01, 2018 | Nov 01, 2018 | ¥0.0136 | 0.0966% |
| 4 | Jul 19, 2018 | Jul 19, 2018 | Jul 19, 2018 | ¥0.0773 | 0.369% |
FAQ
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