Shanghai Fosun Pharmaceutical (Group) Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Shanghai Fosun Pharmaceutical (Group) stock price after Thursday trading.
(Updated on Jun 20, 2024)
The Shanghai Fosun Pharmaceutical (Group) stock price gained 1.21% on the last trading day (Thursday, 20th Jun 2024), rising from HK$13.24 to HK$13.40. During the last trading day the stock fluctuated 3.44% from a day low at HK$13.36 to a day high of HK$13.82. The price has been going up and down for this period, and there has been a -2.19% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately HK$69.06 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 9.24% during the next 3 months and, with a 90% probability hold a price between HK$13.41 and HK$15.56 at the end of this 3-month period.
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2196.HK Signals & Forecast
The Shanghai Fosun Pharmaceutical (Group) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$13.35 and HK$13.18. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -4.83%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Shanghai Fosun Pharmaceutical (Group) stock
Shanghai Fosun Pharmaceutical (Group) finds support from accumulated volume at HK$13.08 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$0.460 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: HK$12.61 (-5.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (2196.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Shanghai Fosun Pharmaceutical (Group) Co., Ltd. to open at HK$13.53, and during the day (based on 14 day Average True Range), to move between HK$12.91 and HK$13.89, which gives a possible trading interval of +/-HK$0.486 (+/-3.63%) up or down from last closing price. If Shanghai Fosun Pharmaceutical (Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.25% 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$13.50 (0.75%) than the support at HK$13.08 (2.39%), 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 Shanghai Fosun Pharmaceutical (Group) Co., Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shanghai Fosun Pharmaceutical (Group) stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.686 Buy Candidate Upgraded
Predicted Opening Price for Shanghai Fosun Pharmaceutical (Group) Co., Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$13.53 ( 0.95%) | HK$13.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2196.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.99 | 4.38% |
| R2 | 13.81 | 3.07% |
| R1 | 13.70 | 2.26% |
| Price | 13.40 | |
| S1 | 13.35 | -0.366% |
| S2 | 13.24 | -1.18% |
| S3 | 13.07 | -2.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.94 | 4.03% |
| R2 | 13.66 | 1.94% |
| R1 | 13.50 | 0.746% |
| Price | 13.40 | |
| S1 | 13.08 | -2.39% |
| S2 | 12.72 | -5.07% |
| S3 | 12.24 | -8.66% |
2196 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2023 | Jul 31, 2023 | Jul 31, 2023 | HK$0.460 | 2.24% |
| 2 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | HK$0.660 | 2.05% |
| 3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | HK$0.520 | 0.90% |
| 4 | Jul 21, 2020 | Jul 21, 2020 | Jul 21, 2020 | HK$0.430 | 1.20% |
| 5 | Jul 24, 2019 | Jul 24, 2019 | Jul 24, 2019 | HK$0.360 | 1.48% |
FAQ
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