China Medical System Holdings Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for China Medical System Holdings Limited as stock downgraded to Sell Candidate.
(Updated on May 07, 2024)
The China Medical System Holdings Limited stock price fell by -0.667% on the last day (Tuesday, 7th May 2024) from HK$7.50 to HK$7.45. During the last trading day the stock fluctuated 2.16% from a day low at HK$7.40 to a day high of HK$7.56. The price has been going up and down for this period, and there has been a 3.62% gain for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately HK$76.57 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 -43.49% during the next 3 months and, with a 90% probability hold a price between HK$3.17 and HK$5.30 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 6.43%. 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). 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$8.77. On a fall, the stock will find some support from the short-term average at HK$7.30. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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$0.160 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 4.55%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect China Medical System Holdings Limited to open at HK$7.47, and during the day (based on 14 day Average True Range), to move between HK$7.08 and HK$7.82, which gives a possible trading interval of +/-HK$0.372 (+/-4.99%) 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 9.97% 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$7.50 (0.67%) than the support at HK$7.40 (0.67%), 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 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.028 Sell Candidate Downgraded
Predicted Opening Price for China Medical System Holdings Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| HK$7.47 ( 0.268%) | HK$7.45 |
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 | 7.63 | 2.42 % | |
| R2 | 7.57 | 1.60 % | ||
| R1 | 7.53 | 1.09 % | ||
| Current price: | 7.45 | |||
| Support | S1 | 7.41 | -0.552 % | |
| S2 | 7.37 | -1.06 % | ||
| S3 | 7.31 | -1.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.22 | 10.34 % | |
| R2 | 7.55 | 1.34 % | ||
| R1 | 7.50 | 0.671 % | ||
| Current price | 7.45 | |||
| Support | S1 | 7.40 | -0.671% | |
| S2 | 7.05 | -5.37% | ||
| S3 | 7.00 | -6.04% |
0867 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 23, 2024 | HK$0.0860 | 1.16% |
| 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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