Fusen Pharmaceutical Company Limited Stock Forecast
Volatile ride for Fusen Pharmaceutical Company Limited stock price on Friday moving between HK$0.86 and HK$1.10
(Updated on May 17, 2024)
The Fusen Pharmaceutical Company Limited stock price gained 4.76% on the last trading day (Friday, 17th May 2024), rising from HK$1.05 to HK$1.10. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 27.91% from a day low at HK$0.86 to a day high of HK$1.10. The price has risen in 5 of the last 10 days and is up by 23.6% 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, 63 thousand more shares were traded than the day before. In total, 134 thousand shares were bought and sold for approximately HK$147.40 thousand.
Given the current short-term trend, the stock is expected to fall -29.23% during the next 3 months and, with a 90% probability hold a price between HK$0.482 and HK$0.778 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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1652.HK Signals & Forecast
The Fusen Pharmaceutical Company Limited 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$0.96 and HK$0.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 29.41%. 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). Fusen Pharmaceutical Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Fusen Pharmaceutical Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.89 and HK$0.87. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Fusen Pharmaceutical Company Limited finds support just below today's level at HK$0.89. If this is broken, then the next support from accumulated volume will be at HK$0.87 and HK$0.85.
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$0.240 between high and low, or 27.91%. For the last week, the stock has had daily average volatility of 11.69%.
The Fusen Pharmaceutical Company Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$1.06 (-4.08%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (1652.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Fusen Pharmaceutical Company Limited to open at HK$1.02, and during the day (based on 14 day Average True Range), to move between HK$1.03 and HK$1.17, which gives a possible trading interval of +/-HK$0.0656 (+/-5.96%) up or down from last closing price. If Fusen Pharmaceutical Company Limited takes out the full calculated possible swing range there will be an estimated 11.93% 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$1.18 (7.27%) than the support at HK$0.89 (19.09%), 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 Fusen Pharmaceutical Company Limited stock A Buy?
Fusen Pharmaceutical Company 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Fusen Pharmaceutical Company Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
HK$1.02 ( 7.27%) | HK$1.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1652.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.26 | 14.55 % | |
R2 | 1.17 | 6.21 % | ||
R1 | 1.11 | 1.06 % | ||
Current price: | 1.10 | |||
Support | S1 | 0.93 | -15.61 % | |
S2 | 0.87 | -20.76 % | ||
S3 | 0.780 | -29.09 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.28 | 16.36 % | |
R2 | 1.25 | 13.64 % | ||
R1 | 1.18 | 7.27 % | ||
Current price | 1.10 | |||
Support | S1 | 0.89 | -19.09% | |
S2 | 0.87 | -20.91% | ||
S3 | 0.85 | -22.73% |
1652 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0042 | 0.438% |
2 | Sep 17, 2021 | Sep 17, 2021 | Sep 17, 2021 | HK$0.0068 | 0.262% |
3 | Jun 08, 2021 | Jun 08, 2021 | Jun 08, 2021 | HK$0.0054 | 0.158% |
4 | Sep 15, 2020 | Sep 15, 2020 | Sep 15, 2020 | HK$0.0051 | 0.110% |
5 | Mar 31, 2020 | Jul 03, 2020 | Aug 10, 2020 | HK$0.0040 | 0.118% |
FAQ
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