Innovative Pharmaceutical Biotech Ltd Stock Forecast

Red day on Monday for Innovative Pharmaceutical Biotech Ltd
(Updated on Jun 03, 2024)

0399.HK Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Innovative Pharmaceutical Biotech 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 HK$0.202 and HK$0.199. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -2.93%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Innovative Pharmaceutical Biotech Ltd stock

Innovative Pharmaceutical Biotech Ltd finds support from accumulated volume at HK$0.195 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 HK$0.0060 between high and low, or 3.11%. For the last week, the stock has had daily average volatility of 2.90%.

Our recommended stop-loss: HK$0.190 (-4.54%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (0399.HK) For The Upcoming Trading Day Of Tuesday 4th

For the upcoming trading day on Tuesday, 4th we expect Innovative Pharmaceutical Biotech Limited to open at HK$0.197, and during the day (based on 14 day Average True Range), to move between HK$0.191 and HK$0.207, which gives a possible trading interval of +/-HK$0.0081 (+/-4.05%) up or down from last closing price. If Innovative Pharmaceutical Biotech Limited takes out the full calculated possible swing range there will be an estimated 8.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.200 (0.50%) than the support at HK$0.195 (2.01%), 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 Innovative Pharmaceutical Biotech Limited stock A Buy?

Innovative Pharmaceutical Biotech Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Innovative Pharmaceutical Biotech Limited of Tuesday, June 4, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.