Harbin Medisan Pharmaceutical Co Ltd Stock Forecast
High volatility in Harbin Medisan Pharmaceutical Co Ltd stock price on Wednesday which ended trading at ¥9.79
(Updated on Apr 24, 2024)
The Harbin Medisan Pharmaceutical Co Ltd stock price fell by -1.11% on the last day (Wednesday, 24th Apr 2024) from ¥9.90 to ¥9.79. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 16.05% from a day low at ¥9.53 to a day high of ¥11.06. The price has fallen in 6 of the last 10 days and is down by -1.01% 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 -902 thousand shares and in total, 11 million shares were bought and sold for approximately ¥111.35 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.88% during the next 3 months and, with a 90% probability hold a price between ¥9.38 and ¥14.64 at the end of this 3-month period.
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002900.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 Harbin Medisan 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 ¥11.14 and ¥10.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -25.21%. 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 Harbin Medisan Pharmaceutical Co Ltd stock
Harbin Medisan Pharmaceutical Co Ltd finds support from accumulated volume at ¥9.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥1.53 between high and low, or 16.05%. For the last week, the stock has had daily average volatility of 19.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002900.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Harbin Medisan Pharmaceutical Co Ltd to open at ¥10.13, and during the day (based on 14 day Average True Range), to move between ¥8.62 and ¥10.96, which gives a possible trading interval of +/-¥1.17 (+/-11.93%) up or down from last closing price. If Harbin Medisan Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 23.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥9.90 (1.12%) than the support at ¥9.47 (3.27%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Harbin Medisan Pharmaceutical Co Ltd stock A Buy?
The Harbin Medisan Pharmaceutical Co Ltd stock holds several negative signals and despite the positive trend, we believe Harbin Medisan Pharmaceutical Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.082 Sell Candidate Unchanged
Predicted Opening Price for Harbin Medisan Pharmaceutical Co Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥10.13 ( 3.44%) | ¥9.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002900.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.66 | 19.07 % | |
| R2 | 11.07 | 13.10 % | ||
| R1 | 10.71 | 9.41 % | ||
| Current price: | 9.79 | |||
| Support | S1 | 9.54 | -2.53 % | |
| S2 | 9.18 | -6.22 % | ||
| S3 | 8.60 | -12.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.06 | 12.97 % | |
| R2 | 9.96 | 1.74 % | ||
| R1 | 9.90 | 1.12 % | ||
| Current price | 9.79 | |||
| Support | S1 | 9.47 | -3.27% | |
| S2 | 9.15 | -6.54% | ||
| S3 | 8.11 | -17.16% |
002900 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ¥0.100 | 0.763% |
| 2 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | ¥0.320 | 2.54% |
| 3 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | ¥0.0800 | 0.249% |
| 4 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | ¥0.280 | 2.45% |
| 5 | Jun 04, 2019 | Jun 04, 2019 | Jun 04, 2019 | ¥0.650 | 5.41% |
FAQ
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