Keymed Biosciences Inc. Stock Forecast
Keymed Biosciences Inc. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Keymed Biosciences Inc. stock price fell by -2.88% on the last day (Friday, 28th Jun 2024) from HK$34.75 to HK$33.75. During the last trading day the stock fluctuated 8.93% from a day low at HK$33.05 to a day high of HK$36.00. The price has fallen in 6 of the last 10 days and is down by -4.39% for this period. Volume has increased on the last day by 363 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 756 thousand shares were bought and sold for approximately HK$25.51 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.01% during the next 3 months and, with a 90% probability hold a price between HK$34.97 and HK$38.19 at the end of this 3-month period.
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2162.HK Signals & Forecast
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 Keymed Biosciences 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$34.44 and HK$33.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -5.86%. 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 Keymed Biosciences Inc. stock
Keymed Biosciences Inc. finds support from accumulated volume at HK$33.00 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$2.95 between high and low, or 8.93%. For the last week, the stock has had daily average volatility of 5.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2162.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Keymed Biosciences Inc. to open at HK$34.27, and during the day (based on 14 day Average True Range), to move between HK$31.63 and HK$35.87, which gives a possible trading interval of +/-HK$2.12 (+/-6.29%) up or down from last closing price. If Keymed Biosciences Inc. takes out the full calculated possible swing range there will be an estimated 12.59% 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$34.15 (1.19%) than the support at HK$33.00 (2.22%), 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 Keymed Biosciences Inc. stock A Buy?
The Keymed Biosciences Inc. stock holds several negative signals and despite the positive trend, we believe Keymed Biosciences Inc. 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 Buy to a Sell candidate.
Current score: -2.089 Sell Candidate Downgraded
Predicted Opening Price for Keymed Biosciences Inc. of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$34.27 ( 1.53%) | HK$33.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2162.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.22 | 10.27% |
| R2 | 36.09 | 6.93% |
| R1 | 35.39 | 4.87% |
| Price | 33.75 | |
| S1 | 33.14 | -1.81% |
| S2 | 32.44 | -3.87% |
| S3 | 31.32 | -7.21% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 34.65 | 2.67% |
| R2 | 34.60 | 2.52% |
| R1 | 34.15 | 1.19% |
| Price | 33.75 | |
| S1 | 33.00 | -2.22% |
| S2 | 31.70 | -6.07% |
| S3 | 31.45 | -6.81% |
FAQ
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