Consun Pharmaceutical Group Limited Stock Forecast
Consun Pharmaceutical Group Limited stock downgraded to Sell Candidate
(Updated on Jun 20, 2024)
The Consun Pharmaceutical Group Limited stock price gained 0.721% on the last trading day (Thursday, 20th Jun 2024), rising from HK$5.55 to HK$5.59. During the last trading day the stock fluctuated 2.55% from a day low at HK$5.50 to a day high of HK$5.64. The price has fallen in 6 of the last 10 days and is down by -14.79% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 105 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$12.12 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$5.50 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.05% during the next 3 months and, with a 90% probability hold a price between HK$6.10 and HK$8.30 at the end of this 3-month period.
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1681.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.19%. 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. The Consun Pharmaceutical Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$5.65 and HK$6.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Consun Pharmaceutical Group Limited stock
Consun Pharmaceutical Group Limited finds support from accumulated volume at HK$5.55 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$0.140 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 2.91%.
Consun Pharmaceutical Group Limited is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1681.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Consun Pharmaceutical Group Limited to open at HK$5.58, and during the day (based on 14 day Average True Range), to move between HK$5.36 and HK$5.82, which gives a possible trading interval of +/-HK$0.230 (+/-4.11%) 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 8.23% 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$5.55 (0.72%) than the resistance at HK$5.90 (5.55%), 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?
The Consun Pharmaceutical Group Limited stock holds several negative signals and despite the positive trend, we believe Consun Pharmaceutical Group Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.541 Sell Candidate Downgraded
Predicted Opening Price for Consun Pharmaceutical Group Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$5.58 ( 0.239%) | HK$5.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1681.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.72 | 2.27% |
| R2 | 5.66 | 1.31% |
| R1 | 5.63 | 0.718% |
| Price | 5.59 | |
| S1 | 5.52 | -1.20% |
| S2 | 5.49 | -1.79% |
| S3 | 5.44 | -2.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.83 | 22.18% |
| R2 | 6.76 | 20.93% |
| R1 | 5.90 | 5.55% |
| Price | 5.59 | |
| S1 | 5.55 | -0.716% |
| S2 | 5.47 | -2.15% |
| S3 | 5.40 | -3.40% |
1681 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 21, 2024 | HK$0.300 | 5.40% |
| 2 | Sep 07, 2023 | Sep 07, 2023 | Sep 07, 2023 | HK$0.150 | 2.85% |
| 3 | Sep 06, 2023 | Sep 06, 2023 | Sep 06, 2023 | HK$0.150 | 2.83% |
| 4 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | HK$0.300 | 6.28% |
| 5 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | HK$0.300 | 5.95% |
FAQ
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