Allmed Medical Products Co Ltd Stock Forecast
Red day on Thursday for Allmed Medical Products Co Ltd stock after losing 0.657%
(Updated on Apr 18, 2024)
The Allmed Medical Products Co Ltd stock price fell by -0.657% on the last day (Thursday, 18th Apr 2024) from ¥7.61 to ¥7.56. During the last trading day the stock fluctuated 7.93% from a day low at ¥7.44 to a day high of ¥8.03. The price has fallen in 6 of the last 10 days and is down by -3.45% 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, 3 million shares were bought and sold for approximately ¥25.12 million.
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 Allmed Medical Products Co Ltd stock with a 90% probability to be traded between ¥6.24 and ¥7.94 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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002950.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 Allmed Medical Products 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 ¥7.67 and ¥7.69. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -5.85%. 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 Allmed Medical Products Co Ltd stock
Allmed Medical Products Co Ltd finds support from accumulated volume at ¥7.47 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 ¥0.590 between high and low, or 7.93%. For the last week, the stock has had daily average volatility of 9.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002950.SZ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Allmed Medical Products Co Ltd to open at ¥7.68, and during the day (based on 14 day Average True Range), to move between ¥7.14 and ¥7.98, which gives a possible trading interval of +/-¥0.418 (+/-5.53%) up or down from last closing price. If Allmed Medical Products Co Ltd takes out the full calculated possible swing range there will be an estimated 11.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥7.47 (1.19%) than the resistance at ¥7.73 (2.25%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Allmed Medical Products Co Ltd stock A Buy?
Allmed Medical Products 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: -2.639 Sell Candidate Unchanged
Predicted Opening Price for Allmed Medical Products Co Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ¥7.68 ( 1.54%) | ¥7.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002950.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.27 | 9.35 % | |
| R2 | 8.04 | 6.37 % | ||
| R1 | 7.90 | 4.52 % | ||
| Current price: | 7.56 | |||
| Support | S1 | 7.45 | -1.44 % | |
| S2 | 7.31 | -3.28 % | ||
| S3 | 7.09 | -6.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.03 | 6.22 % | |
| R2 | 7.83 | 3.57 % | ||
| R1 | 7.73 | 2.25 % | ||
| Current price | 7.56 | |||
| Support | S1 | 7.47 | -1.19% | |
| S2 | 7.40 | -2.12% | ||
| S3 | 7.23 | -4.37% |
002950 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.0600 | 0.583% |
| 2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | ¥0.210 | 1.74% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.88 | 4.83% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.400 | 1.75% |
| 5 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | ¥0.100 | 0.592% |
FAQ
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