Jacobson Pharma Corporation Limited Stock Forecast
Jacobson Pharma Corporation Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
The Jacobson Pharma Corporation Limited stock price gained 3.23% on the last trading day (Thursday, 20th Jun 2024), rising from HK$0.620 to HK$0.640. During the last trading day the stock fluctuated 4.92% from a day low at HK$0.610 to a day high of HK$0.640. The price has risen in 5 of the last 10 days and is up by 6.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 594 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately HK$672.00 thousand.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$0.633, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.686 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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2633.HK Signals & Forecast
Mostly positive signals in the chart today. The Jacobson Pharma Corporation Limited 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$0.619 and HK$0.599. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 10.34%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Jacobson Pharma Corporation Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Jacobson Pharma Corporation Limited stock
Jacobson Pharma Corporation Limited finds support from accumulated volume at HK$0.610 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$0.0300 (4.92%) between high and low. For the last week, the stock has had daily average volatility of 3.31%.
The Jacobson Pharma Corporation Limited stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$0.609 (-4.82%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (2633.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Jacobson Pharma Corporation Limited to open at HK$0.630, and during the day (based on 14 day Average True Range), to move between HK$0.622 and HK$0.658, which gives a possible trading interval of +/-HK$0.0180 (+/-2.81%) up or down from last closing price. If Jacobson Pharma Corporation Limited takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.610, some HK$0.0300 (4.69%) from the current price of HK$0.640, our system finds the risk reward attractive.
Is Jacobson Pharma Corporation Limited stock A Buy?
Jacobson Pharma Corporation Limited holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.193 Strong Buy Candidate Upgraded
Predicted Opening Price for Jacobson Pharma Corporation Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.630 ( 1.56%) | HK$0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2633.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.660 | 3.13% |
| R2 | 0.649 | 1.33% |
| R1 | 0.641 | 0.228% |
| Price | 0.640 | |
| S1 | 0.619 | -3.35% |
| S2 | 0.611 | -4.46% |
| S3 | 0.600 | -6.25% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.640 | |
| S1 | 0.610 | -4.69% |
| S2 | 0.600 | -6.25% |
| S3 | 0.590 | -7.81% |
2633 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Jan 10, 2024 | HK$0.0250 | 4.24% |
| 2 | Aug 15, 2023 | Aug 15, 2023 | Sep 01, 2023 | HK$0.0238 | 3.45% |
| 3 | Dec 08, 2022 | Dec 08, 2022 | Dec 08, 2022 | HK$0.0280 | 3.37% |
| 4 | Oct 03, 2022 | Oct 03, 2022 | Oct 03, 2022 | HK$0.0268 | 3.23% |
| 5 | Dec 09, 2021 | Dec 09, 2021 | Dec 09, 2021 | HK$0.0120 | 2.50% |
FAQ
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