Ascletis Pharma Inc. Stock Forecast
Evaluation of Ascletis Pharma Inc. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Ascletis Pharma Inc. stock price fell by -2.88% on the last day (Friday, 17th May 2024) from HK$1.39 to HK$1.35. During the last trading day the stock fluctuated 6.06% from a day low at HK$1.32 to a day high of HK$1.40. The price has been going up and down for this period, and there has been a -3.57% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -132 thousand shares and in total, 2 million shares were bought and sold for approximately HK$2.22 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$1.40 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -28.45% during the next 3 months and, with a 90% probability hold a price between HK$0.780 and HK$1.00 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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1672.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.30%. 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 Ascletis Pharma Inc. 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$1.39 and HK$1.36. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ascletis Pharma Inc. stock
Ascletis Pharma Inc. finds support from accumulated volume at HK$1.34 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$0.0800 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 5.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1672.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ascletis Pharma Inc. to open at HK$1.36, and during the day (based on 14 day Average True Range), to move between HK$1.28 and HK$1.42, which gives a possible trading interval of +/-HK$0.0711 (+/-5.27%) up or down from last closing price. If Ascletis Pharma Inc. takes out the full calculated possible swing range there will be an estimated 10.54% 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$1.34 (0.74%) than the resistance at HK$1.39 (2.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ascletis Pharma Inc. will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Ascletis Pharma Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.62% in the first trading day after earnings release.
Is Ascletis Pharma Inc. stock A Buy?
Ascletis Pharma Inc. 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: -2.528 Sell Candidate Downgraded
Predicted Opening Price for Ascletis Pharma Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$1.36 ( 0.494%) | HK$1.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1672.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.44 | 6.42 % | |
| R2 | 1.41 | 4.16 % | ||
| R1 | 1.39 | 2.76 % | ||
| Current price: | 1.35 | |||
| Support | S1 | 1.33 | -1.77 % | |
| S2 | 1.31 | -3.17 % | ||
| S3 | 1.28 | -5.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.64 | 21.48 % | |
| R2 | 1.40 | 3.70 % | ||
| R1 | 1.39 | 2.96 % | ||
| Current price | 1.35 | |||
| Support | S1 | 1.34 | -0.741% | |
| S2 | 1.31 | -2.96% | ||
| S3 | 1.28 | -5.19% |
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