China Shineway Pharmaceutical Group Ltd Stock Forecast
Green day on Friday for China Shineway Pharmaceutical Group Ltd stock after gaining 0.106%
(Updated on May 17, 2024)
The China Shineway Pharmaceutical Group Ltd stock price gained 0.106% on the last trading day (Friday, 17th May 2024), rising from HK$9.47 to HK$9.48. During the last trading day the stock fluctuated 2.88% from a day low at HK$9.36 to a day high of HK$9.63. The price has risen in 6 of the last 10 days and is up by 1.39% over the past 2 weeks. Volume fell on the last day by -414 thousand shares and in total, 816 thousand shares were bought and sold for approximately HK$7.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 3.71% during the next 3 months and, with a 90% probability hold a price between HK$9.47 and HK$11.22 at the end of this 3-month period.
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2877.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 4.98%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. The China Shineway Pharmaceutical Group Ltd 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$9.54 and HK$9.57. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for China Shineway Pharmaceutical Group Ltd stock
China Shineway Pharmaceutical Group Ltd finds support from accumulated volume at HK$9.23 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$0.270 (2.88%) between high and low. For the last week, the stock has had daily average volatility of 3.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2877.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect China Shineway Pharmaceutical Group Limited to open at HK$9.49, and during the day (based on 14 day Average True Range), to move between HK$9.15 and HK$9.81, which gives a possible trading interval of +/-HK$0.326 (+/-3.43%) up or down from last closing price. If China Shineway Pharmaceutical Group Limited takes out the full calculated possible swing range there will be an estimated 6.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$9.23 (2.64%) than the resistance at HK$9.90 (4.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Shineway Pharmaceutical Group Limited stock A Buy?
The China Shineway Pharmaceutical Group Ltd stock holds several negative signals and despite the positive trend, we believe China Shineway Pharmaceutical Group Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.978 Sell Candidate Unchanged
Predicted Opening Price for China Shineway Pharmaceutical Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$9.49 ( 0.105%) | HK$9.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2877.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.76 | 2.95 % | |
| R2 | 9.66 | 1.87 % | ||
| R1 | 9.59 | 1.19 % | ||
| Current price: | 9.48 | |||
| Support | S1 | 9.39 | -0.98 % | |
| S2 | 9.32 | -1.65 % | ||
| S3 | 9.22 | -2.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.28 | 8.44 % | |
| R2 | 10.08 | 6.33 % | ||
| R1 | 9.90 | 4.43 % | ||
| Current price | 9.48 | |||
| Support | S1 | 9.23 | -2.64% | |
| S2 | 9.14 | -3.59% | ||
| S3 | 8.96 | -5.49% |
2877 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 17, 2024 | HK$0.461 | 4.90% |
| 2 | Sep 12, 2023 | Sep 12, 2023 | Sep 12, 2023 | HK$0.118 | 1.59% |
| 3 | Apr 28, 2023 | Apr 28, 2023 | Apr 28, 2023 | HK$0.353 | 4.32% |
| 4 | Sep 13, 2022 | Sep 13, 2022 | Sep 13, 2022 | HK$0.125 | 2.26% |
| 5 | May 03, 2022 | May 03, 2022 | May 03, 2022 | HK$0.258 | 4.36% |
FAQ
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