China Medical System Holdings Limited Stock Forecast
China Medical System Holdings Limited stock price up 1.76% on Monday
(Updated on May 06, 2024)
The China Medical System Holdings Limited stock price gained 1.76% on the last trading day (Monday, 6th May 2024), rising from HK$7.37 to HK$7.50. During the last trading day the stock fluctuated 3.41% from a day low at HK$7.34 to a day high of HK$7.59. The price has risen in 6 of the last 10 days and is up by 7.14% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$68.63 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -42.49% during the next 3 months and, with a 90% probability hold a price between HK$3.31 and HK$5.50 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 7.14%. 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 is rising along with the price. This is considered to be a good technical signal. 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$8.92. On a fall, the stock will find some support from the short-term average at HK$7.25. 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$7.40 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$0.250 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 4.73%.
Our recommended stop-loss: HK$7.18 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (0867.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect China Medical System Holdings Limited to open at HK$7.48, and during the day (based on 14 day Average True Range), to move between HK$7.11 and HK$7.89, which gives a possible trading interval of +/-HK$0.387 (+/-5.16%) 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 10.32% 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$7.55 (0.67%) than the support at HK$7.40 (1.33%), 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 China Medical System Holdings Limited stock A Buy?
China Medical System Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.411 Hold/Accumulate Unchanged
Predicted Opening Price for China Medical System Holdings Limited of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
HK$7.48 ( 0.311%) | HK$7.50 |
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 | 7.73 | 3.02 % | |
R2 | 7.63 | 1.75 % | ||
R1 | 7.57 | 0.96 % | ||
Current price: | 7.50 | |||
Support | S1 | 7.38 | -1.58 % | |
S2 | 7.32 | -2.37 % | ||
S3 | 7.23 | -3.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.22 | 9.60 % | |
R2 | 7.59 | 1.20 % | ||
R1 | 7.55 | 0.667 % | ||
Current price | 7.50 | |||
Support | S1 | 7.40 | -1.33% | |
S2 | 7.05 | -6.00% | ||
S3 | 7.00 | -6.67% |
0867 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 13, 2024 | May 13, 2024 | May 23, 2024 | HK$0.0860 | 1.14% |
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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