Consun Pharmaceutical Group Limited Stock Forecast

Evaluation of Consun Pharmaceutical Group Limited stock downgraded after the last trading session.
(Updated on May 23, 2024)

1681.HK Signals & Forecast

The Consun Pharmaceutical Group Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$6.92. On a fall, the stock will find some support from the long-term average at approximately HK$6.03. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -4.61%. 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 Consun Pharmaceutical Group Limited stock

Consun Pharmaceutical Group Limited finds support from accumulated volume at HK$6.76 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.170 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 2.51%.

Our recommended stop-loss: HK$6.64 (-2.82%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (1681.HK) For The Upcoming Trading Day Of Friday 24th

For the upcoming trading day on Friday, 24th we expect Consun Pharmaceutical Group Limited to open at HK$6.77, and during the day (based on 14 day Average True Range), to move between HK$6.63 and HK$7.03, which gives a possible trading interval of +/-HK$0.203 (+/-2.97%) up or down from last closing price. If Consun Pharmaceutical Group Limited takes out the full calculated possible swing range there will be an estimated 5.94% 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$6.76 (1.02%) than the resistance at HK$6.96 (1.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Consun Pharmaceutical Group Limited stock A Buy?

Consun Pharmaceutical Group 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.646 Hold/Accumulate Downgraded

Predicted Opening Price for Consun Pharmaceutical Group Limited of Friday, May 24, 2024

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