Hua Medicine (Shanghai) Ltd. Stock Forecast
Hua Medicine (Shanghai) Ltd. stock price down 0% on Thursday
(Updated on May 23, 2024)
No changes to the price of Hua Medicine (Shanghai) Ltd. stock on the last trading day (Thursday, 23rd May 2024). During the last trading day the stock fluctuated 8.00% from a day low at HK$1.50 to a day high of HK$1.62. The price has risen in 5 of the last 10 days and is up by 1.28% over the past 2 weeks.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Hua Medicine (Shanghai) Ltd. stock with a 90% probability to be traded between HK$1.30 and HK$1.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2552.HK Signals & Forecast
The Hua Medicine (Shanghai) Ltd. 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$1.57 and HK$1.55. A breakdown below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Thursday, April 11, 2024, and so far it has fallen -4.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hua Medicine (Shanghai) Ltd. stock
Hua Medicine (Shanghai) Ltd. finds support from accumulated volume at HK$1.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.120 (8.00%) between high and low. For the last week, the stock has had daily average volatility of 6.34%.
Our recommended stop-loss: HK$1.50 (-5.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (2552.HK) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Hua Medicine (Shanghai) Ltd. to open at HK$1.57, and during the day (based on 14 day Average True Range), to move between HK$1.49 and HK$1.67, which gives a possible trading interval of +/-HK$0.0873 (+/-5.52%) up or down from last closing price. If Hua Medicine (Shanghai) Ltd. takes out the full calculated possible swing range there will be an estimated 11.05% 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$1.59 (0.63%) than the support at HK$1.57 (0.63%), 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 Hua Medicine (Shanghai) Ltd. stock A Buy?
Hua Medicine (Shanghai) Ltd. 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.
Current score: -0.297 Hold/Accumulate Unchanged
Predicted Opening Price for Hua Medicine (Shanghai) Ltd. of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| HK$1.57 ( 0.84%) | HK$1.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2552.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.69 | 6.75 % | |
| R2 | 1.64 | 3.85 % | ||
| R1 | 1.61 | 2.06 % | ||
| Current price: | 1.58 | |||
| Support | S1 | 1.52 | -3.75 % | |
| S2 | 1.49 | -5.54 % | ||
| S3 | 1.45 | -8.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.62 | 2.53 % | |
| R2 | 1.60 | 1.27 % | ||
| R1 | 1.59 | 0.633 % | ||
| Current price | 1.58 | |||
| Support | S1 | 1.57 | -0.633% | |
| S2 | 1.55 | -1.90% | ||
| S3 | 1.45 | -8.23% |
FAQ
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