Harbin Medisan Pharmaceutical Co Ltd Stock Forecast
Harbin Medisan Pharmaceutical Co Ltd stock price down 0.701% on Tuesday
(Updated on Apr 30, 2024)
The Harbin Medisan Pharmaceutical Co Ltd stock price fell by -0.701% on the last day (Tuesday, 30th Apr 2024) from ¥9.99 to ¥9.92. During the last trading day the stock fluctuated 2.76% from a day low at ¥9.80 to a day high of ¥10.07. The price has fallen in 7 of the last 10 days and is down by -16.64% 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, 8 million shares were bought and sold for approximately ¥75.95 million.
The stock lies in the lower part of a very 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 ¥9.22 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 17.81% during the next 3 months and, with a 90% probability hold a price between ¥10.86 and ¥15.79 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002900.SZ Signals & Forecast
There are mixed signals in the stock today. 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. 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 ¥9.92 and ¥10.29. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.33%. 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).
Support, Risk & Stop-loss for Harbin Medisan Pharmaceutical Co Ltd stock
Harbin Medisan 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 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 ¥0.270 between high and low, or 2.76%. For the last week, the stock has had daily average volatility of 10.00%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Harbin Medisan Pharmaceutical Co Ltd to open at ¥9.93, and during the day (based on 14 day Average True Range), to move between ¥8.85 and ¥10.99, which gives a possible trading interval of +/-¥1.07 (+/-10.77%) 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 21.55% 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 (0.20%) than the resistance at ¥9.96 (0.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Harbin Medisan Pharmaceutical Co Ltd stock A Buy?
Harbin Medisan Pharmaceutical Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.268 Sell Candidate Unchanged
Predicted Opening Price for Harbin Medisan Pharmaceutical Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥9.93 ( 0.101%) | ¥9.92 |
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 | 10.20 | 2.82 % | |
| R2 | 10.10 | 1.78 % | ||
| R1 | 10.03 | 1.14 % | ||
| Current price: | 9.92 | |||
| Support | S1 | 9.83 | -0.94 % | |
| S2 | 9.76 | -1.58 % | ||
| S3 | 9.66 | -2.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.29 | 23.89 % | |
| R2 | 11.06 | 11.49 % | ||
| R1 | 9.96 | 0.403 % | ||
| Current price | 9.92 | |||
| Support | S1 | 9.90 | -0.202% | |
| S2 | 9.87 | -0.504% | ||
| S3 | 8.11 | -18.25% |
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
Click here for our free guide on how to buy Harbin Medisan Pharmaceutical Co Ltd Stock.
