Luye Pharma Group Ltd. Stock Forecast
Weaker technical forecast for Luye Pharma Group Ltd. as stock downgraded to Sell Candidate.
(Updated on Apr 24, 2024)
The Luye Pharma Group Ltd. stock price gained 1.51% on the last trading day (Wednesday, 24th Apr 2024), rising from HK$2.65 to HK$2.69. During the last trading day the stock fluctuated 4.25% from a day low at HK$2.59 to a day high of HK$2.70. The price has fallen in 6 of the last 10 days and is down by -3.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 439 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately HK$21.63 million.
The stock lies in the middle of a wide and 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 2.43% during the next 3 months and, with a 90% probability hold a price between HK$2.60 and HK$3.17 at the end of this 3-month period.
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2186.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.46%. 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 Luye Pharma Group Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$2.82. On a fall, the stock will find some support from the short-term average at HK$2.64. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Luye Pharma Group Ltd. stock
Luye Pharma Group Ltd. finds support from accumulated volume at HK$2.62 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$0.110 between high and low, or 4.25%. For the last week, the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2186.HK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Luye Pharma Group Ltd. to open at HK$2.66, and during the day (based on 14 day Average True Range), to move between HK$2.58 and HK$2.80, which gives a possible trading interval of +/-HK$0.106 (+/-3.94%) up or down from last closing price. If Luye Pharma Group Ltd. takes out the full calculated possible swing range there will be an estimated 7.88% 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$2.73 (1.49%) than the support at HK$2.62 (2.60%), 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 Luye Pharma Group Ltd. stock A Buy?
Luye Pharma Group Ltd. 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: -1.674 Sell Candidate Downgraded
Predicted Opening Price for Luye Pharma Group Ltd. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| HK$2.66 ( 1.12%) | HK$2.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2186.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.77 | 2.97 % | |
| R2 | 2.73 | 1.41 % | ||
| R1 | 2.70 | 0.447 % | ||
| Current price: | 2.69 | |||
| Support | S1 | 2.62 | -2.68 % | |
| S2 | 2.59 | -3.64 % | ||
| S3 | 2.55 | -5.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.06 | 13.75 % | |
| R2 | 2.74 | 1.86 % | ||
| R1 | 2.73 | 1.49 % | ||
| Current price | 2.69 | |||
| Support | S1 | 2.62 | -2.60% | |
| S2 | 2.58 | -4.09% | ||
| S3 | 2.50 | -7.06% |
2186 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2020 | Jun 29, 2020 | Jul 24, 2020 | HK$0.0600 | 1.27% |
| 2 | Aug 28, 2019 | Sep 09, 2019 | Sep 30, 2019 | HK$0.0670 | 1.20% |
| 3 | Mar 28, 2019 | Jun 14, 2019 | Jul 18, 2019 | HK$0.0650 | 1.05% |
| 4 | Aug 26, 2018 | Sep 06, 2018 | Sep 28, 2018 | HK$0.0510 | 0.726% |
| 5 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | HK$0.0540 | 0.631% |
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