Lee's Pharmaceutical Holdings Limited Stock Forecast

Lee's Pharmaceutical Holdings Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)

0950.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 7.48%. 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 Lee's Pharmaceutical 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$1.17. On a fall, the stock will find some support from the short-term average at HK$1.15. 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. Lee's Pharmaceutical Holdings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Lee's Pharmaceutical Holdings Limited stock

Lee's Pharmaceutical Holdings Limited finds support from accumulated volume at HK$1.13 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$0.0300 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 3.36%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0950.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Lee's Pharmaceutical Holdings Limited to open at HK$1.16, and during the day (based on 14 day Average True Range), to move between HK$1.11 and HK$1.19, which gives a possible trading interval of +/-HK$0.0428 (+/-3.73%) up or down from last closing price. If Lee's Pharmaceutical Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.45% 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$1.13 (1.74%) than the resistance at HK$1.18 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Lee's Pharmaceutical Holdings Limited stock A Buy?

Lee's Pharmaceutical 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: -1.697 Sell Candidate Downgraded

Predicted Opening Price for Lee's Pharmaceutical Holdings Limited of Monday, May 20, 2024

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