Sinopharm Group Co. Ltd. Stock Forecast
High volatility in Sinopharm Group Co. Ltd. stock price on Monday which ended trading at HK$20.20
(Updated on Apr 29, 2024)
The Sinopharm Group Co. Ltd. stock price fell by -6.26% on the last day (Monday, 29th Apr 2024) from HK$21.55 to HK$20.20. During the last trading day the stock fluctuated 10.76% from a day low at HK$19.14 to a day high of HK$21.20. The price has been going up and down for this period, and there has been a 2.43% gain for the last 2 weeks. Volume has increased on the last day by 10 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, 18 million shares were bought and sold for approximately HK$364.93 million.
The stock lies in the middle of a 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 -5.47% during the next 3 months and, with a 90% probability hold a price between HK$18.16 and HK$20.60 at the end of this 3-month period.
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1099.HK Signals & Forecast
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 Sinopharm Group Co. Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$20.98 and HK$20.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -7.13%. Further fall is indicated until a new bottom pivot has been found. 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 Sinopharm Group Co. Ltd. stock
Sinopharm Group Co. Ltd. finds support from accumulated volume at HK$20.05 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$2.06 between high and low, or 10.76%. For the last week, the stock has had daily average volatility of 4.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1099.HK) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Sinopharm Group Co. Ltd. to open at HK$20.18, and during the day (based on 14 day Average True Range), to move between HK$19.33 and HK$21.07, which gives a possible trading interval of +/-HK$0.87 (+/-4.31%) up or down from last closing price. If Sinopharm Group Co. Ltd. takes out the full calculated possible swing range there will be an estimated 8.62% 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$20.05 (0.74%) than the resistance at HK$20.35 (0.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sinopharm Group Co. Ltd. stock A Buy?
Sinopharm Group Co. Ltd. holds several negative signals and is within a wide 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. 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: -4.937 Sell Candidate Downgraded
Predicted Opening Price for Sinopharm Group Co. Ltd. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| HK$20.18 ( 0.0990%) | HK$20.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1099.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.24 | 10.10 % | |
| R2 | 21.45 | 6.20 % | ||
| R1 | 20.97 | 3.80 % | ||
| Current price: | 20.20 | |||
| Support | S1 | 19.39 | -3.99 % | |
| S2 | 18.91 | -6.40 % | ||
| S3 | 18.12 | -10.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.60 | 6.93 % | |
| R2 | 20.55 | 1.73 % | ||
| R1 | 20.35 | 0.743 % | ||
| Current price | 20.20 | |||
| Support | S1 | 20.05 | -0.743% | |
| S2 | 19.96 | -1.19% | ||
| S3 | 19.78 | -2.08% |
1099 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Aug 13, 2024 | HK$0.94 | 4.60% |
| 2 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | HK$0.90 | 3.66% |
| 3 | Jun 27, 2022 | Jun 27, 2022 | Jun 27, 2022 | HK$0.87 | 4.70% |
| 4 | Jun 15, 2021 | Jun 15, 2021 | Jun 15, 2021 | HK$0.84 | 3.50% |
| 5 | Mar 30, 2020 | Jun 15, 2020 | Aug 11, 2020 | HK$0.652 | 3.44% |
FAQ
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