Shanghai Pharmaceuticals Holding Co., Stock Forecast
Red day on Tuesday for Shanghai Pharmaceuticals Holding Co., stock after losing 0.341%
(Updated on Jul 02, 2024)
The Shanghai Pharmaceuticals Holding Co., stock price fell by -0.341% on the last day (Tuesday, 2nd Jul 2024) from HK$11.74 to HK$11.70. During the last trading day the stock fluctuated 3.42% from a day low at HK$11.68 to a day high of HK$12.08. The price has been going up and down for this period, and there has been a -0.85% loss for the last 2 weeks. Volume has increased on the last day by 105 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, 4 million shares were bought and sold for approximately HK$41.67 million.
The stock lies in the lower part of a 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$11.43 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 10.64% during the next 3 months and, with a 90% probability hold a price between HK$12.64 and HK$14.59 at the end of this 3-month period.
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2607.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 Shanghai Pharmaceuticals Holding Co., 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$11.76 and HK$11.95. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -6.85%. 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 Shanghai Pharmaceuticals Holding Co., stock
Shanghai Pharmaceuticals Holding Co., finds support from accumulated volume at HK$11.60 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$0.400 (3.42%) between high and low. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2607.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shanghai Pharmaceuticals Holding Co., Ltd. to open at HK$11.82, and during the day (based on 14 day Average True Range), to move between HK$11.37 and HK$12.03, which gives a possible trading interval of +/-HK$0.327 (+/-2.79%) up or down from last closing price. If Shanghai Pharmaceuticals Holding Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.59% 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$11.76 (0.51%) than the support at HK$11.60 (0.85%), 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 Pharmaceuticals Holding Co., Ltd. stock A Buy?
The Shanghai Pharmaceuticals Holding Co., stock holds several negative signals and despite the positive trend, we believe Shanghai Pharmaceuticals Holding Co., will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.892 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Pharmaceuticals Holding Co., Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$11.82 ( 1.03%) | HK$11.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2607.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.22 | 4.44% |
| R2 | 12.07 | 3.14% |
| R1 | 11.97 | 2.33% |
| Price | 11.70 | |
| S1 | 11.67 | -0.280% |
| S2 | 11.57 | -1.09% |
| S3 | 11.42 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.46 | 6.50% |
| R2 | 11.80 | 0.85% |
| R1 | 11.76 | 0.513% |
| Price | 11.70 | |
| S1 | 11.60 | -0.85% |
| S2 | 11.22 | -4.10% |
| S3 | 11.16 | -4.62% |
2607 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 18, 2024 | Jul 18, 2024 | Aug 27, 2024 | HK$0.441 | 3.77% |
| 2 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | HK$0.664 | 4.65% |
| 3 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | HK$0.492 | 4.12% |
| 4 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | HK$0.492 | 3.99% |
| 5 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | HK$0.576 | 3.67% |
FAQ
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