China Traditional Chinese Medicine Stock Forecast
China Traditional Chinese Medicine stock price down 0% on Thursday
(Updated on Jun 20, 2024)
No changes to the price of China Traditional Chinese Medicine stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0.472% from a day low at HK$4.24 to a day high of HK$4.26. The price has fallen in 7 of the last 10 days and is down by -1.4% for this period.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Traditional Chinese Medicine stock with a 90% probability to be traded between HK$4.12 and HK$4.21 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0570.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and 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 China Traditional Chinese Medicine 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 HK$4.26 and HK$4.27. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -1.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for China Traditional Chinese Medicine stock
China Traditional Chinese Medicine finds support from accumulated volume at HK$4.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0200 between high and low, or 0.472%. For the last week the stock has had daily average volatility of 0.660%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0570.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect China Traditional Chinese Medicine Holdings Co. Limited to open at HK$4.25, and during the day (based on 14 day Average True Range), to move between HK$4.21 and HK$4.27, which gives a possible trading interval of +/-HK$0.0334 (+/-0.79%) up or down from last closing price. If China Traditional Chinese Medicine Holdings Co. Limited takes out the full calculated possible swing range there will be an estimated 1.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$4.23 (0.24%) than the resistance at HK$4.28 (0.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Traditional Chinese Medicine Holdings Co. Limited stock A Buy?
China Traditional Chinese Medicine holds several negative signals and is within a narrow 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: -3.943 Sell Candidate Unchanged
Predicted Opening Price for China Traditional Chinese Medicine Holdings Co. Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$4.25 ( 0.157%) | HK$4.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0570.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.27 | 0.629% |
| R2 | 4.26 | 0.449% |
| R1 | 4.25 | 0.337% |
| Price | 4.24 | |
| S1 | 4.24 | -0.0230% |
| S2 | 4.23 | -0.134% |
| S3 | 4.23 | -0.314% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.32 | 1.89% |
| R2 | 4.30 | 1.42% |
| R1 | 4.28 | 0.94% |
| Price | 4.24 | |
| S1 | 4.23 | -0.236% |
| S2 | 4.22 | -0.472% |
| S3 | 0 | - |
0570 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0518 | 1.35% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | HK$0.0736 | 1.59% |
| 3 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | HK$0.0666 | 1.84% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | HK$0.0476 | 1.28% |
| 5 | Sep 02, 2019 | Sep 02, 2019 | Sep 02, 2019 | HK$0.0572 | 1.48% |
FAQ
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