YiChang HEC ChangJiang Pharmaceutical Stock Forecast

Strong day for YiChang HEC ChangJiang Pharmaceutical stock price on Thursday rising 6.65% to HK$13.16
(Updated on May 09, 2024)

1558.HK Signals & Forecast

The YiChang HEC ChangJiang Pharmaceutical stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$12.85 and HK$11.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 41.51%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for YiChang HEC ChangJiang Pharmaceutical stock

YiChang HEC ChangJiang Pharmaceutical finds support from accumulated volume at HK$12.72 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$0.640 between high and low, or 5.06%. For the last week, the stock has had daily average volatility of 4.12%.

Our recommended stop-loss: HK$12.67 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)

Trading Expectations (1558.HK) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect YiChang HEC ChangJiang Pharmaceutical Co., Ltd. to open at HK$13.03, and during the day (based on 14 day Average True Range), to move between HK$12.67 and HK$13.65, which gives a possible trading interval of +/-HK$0.494 (+/-3.76%) up or down from last closing price. If YiChang HEC ChangJiang Pharmaceutical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$12.72, some HK$0.440 (3.34%) from the current price of HK$13.16, our system finds the risk reward attractive.

Is YiChang HEC ChangJiang Pharmaceutical Co., Ltd. stock A Buy?

YiChang HEC ChangJiang Pharmaceutical holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.993 Strong Buy Candidate Upgraded

Predicted Opening Price for YiChang HEC ChangJiang Pharmaceutical Co., Ltd. of Friday, May 10, 2024

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