China Medical System Holdings Limited Stock Forecast
China Medical System Holdings Limited stock price ended at HK$7.20 on Friday, after gaining 1.84%.
(Updated on Apr 26, 2024)
The China Medical System Holdings Limited stock price gained 1.84% on the last trading day (Friday, 26th Apr 2024), rising from HK$7.07 to HK$7.20. During the last trading day the stock fluctuated 4.01% from a day low at HK$6.99 to a day high of HK$7.27. The price has fallen in 6 of the last 10 days and is down by -0.69% for this period. Volume fell on the last day by -836 thousand shares and in total, 6 million shares were bought and sold for approximately HK$46.59 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$6.51 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -34.91% during the next 3 months and, with a 90% probability hold a price between HK$4.24 and HK$6.96 at the end of this 3-month period. 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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0867.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.86%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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 Medical System Holdings Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$9.64. On a fall, the stock will find some support from the short-term average at HK$7.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for China Medical System Holdings Limited stock
China Medical System Holdings Limited finds support from accumulated volume at HK$7.06 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.280 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0867.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect China Medical System Holdings Limited to open at HK$7.15, and during the day (based on 14 day Average True Range), to move between HK$6.79 and HK$7.61, which gives a possible trading interval of +/-HK$0.411 (+/-5.71%) up or down from last closing price. If China Medical System Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.41% 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$7.06 (1.94%) than the resistance at HK$7.40 (2.78%), 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 Medical System Holdings Limited stock A Buy?
China Medical System Holdings Limited 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: -3.894 Sell Candidate Unchanged
Predicted Opening Price for China Medical System Holdings Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$7.15 ( 0.648%) | HK$7.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0867.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.43 | 3.24 % | |
| R2 | 7.33 | 1.76 % | ||
| R1 | 7.26 | 0.84 % | ||
| Current price: | 7.20 | |||
| Support | S1 | 7.05 | -2.13 % | |
| S2 | 6.98 | -3.05 % | ||
| S3 | 6.87 | -4.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.22 | 14.17 % | |
| R2 | 7.55 | 4.86 % | ||
| R1 | 7.40 | 2.78 % | ||
| Current price | 7.20 | |||
| Support | S1 | 7.06 | -1.94% | |
| S2 | 7.05 | -2.08% | ||
| S3 | 7.00 | -2.78% |
0867 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 23, 2024 | HK$0.0860 | 1.19% |
| 2 | May 03, 2023 | May 03, 2023 | May 03, 2023 | HK$0.274 | 2.16% |
| 3 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | HK$0.337 | 3.06% |
| 4 | Apr 26, 2022 | Apr 26, 2022 | Apr 26, 2022 | HK$0.279 | 2.71% |
| 5 | Sep 06, 2021 | Sep 06, 2021 | Sep 06, 2021 | HK$0.317 | 2.03% |
FAQ
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