Shanghai Kaibao Pharmaceutical CO.,LTD. Stock Forecast
Shanghai Kaibao Pharmaceutical CO.,LTD. stock upgraded to Buy Candidate.
(Updated on Apr 30, 2024)
The Shanghai Kaibao Pharmaceutical CO.,LTD. stock price gained 0.82% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥6.11 to ¥6.16. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.64% from a day low at ¥6.06 to a day high of ¥6.22. The price has risen in 8 of the last 10 days and is up by 10.39% over the past 2 weeks. Volume fell on the last day by -500 thousand shares and in total, 17 million shares were bought and sold for approximately ¥107.09 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.34% during the next 3 months and, with a 90% probability hold a price between ¥5.36 and ¥6.22 at the end of this 3-month period.
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300039.SZ Signals & Forecast
Mostly positive signals in the chart today. The Shanghai Kaibao Pharmaceutical CO.,LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥6.01 and ¥6.12. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.39%. 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.
Support, Risk & Stop-loss for Shanghai Kaibao Pharmaceutical CO.,LTD. stock
Shanghai Kaibao Pharmaceutical CO.,LTD. finds support from accumulated volume at ¥6.11 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 ¥0.160 between high and low, or 2.64%. For the last week, the stock has had daily average volatility of 3.67%.
Since the Shanghai Kaibao Pharmaceutical CO.,LTD. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ¥5.95 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (300039.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shanghai Kaibao Pharmaceutical CO.,LTD. to open at ¥6.15, and during the day (based on 14 day Average True Range), to move between ¥5.94 and ¥6.38, which gives a possible trading interval of +/-¥0.220 (+/-3.57%) up or down from last closing price. If Shanghai Kaibao Pharmaceutical CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.11 (0.81%) than the resistance at ¥6.33 (2.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shanghai Kaibao Pharmaceutical CO.,LTD. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 3.597 Buy Candidate Upgraded
Predicted Opening Price for Shanghai Kaibao Pharmaceutical CO.,LTD. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥6.15 ( 0.216%) | ¥6.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300039.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.31 | 2.38 % | |
| R2 | 6.25 | 1.39 % | ||
| R1 | 6.21 | 0.776 % | ||
| Current price: | 6.16 | |||
| Support | S1 | 6.09 | -1.21 % | |
| S2 | 6.05 | -1.82 % | ||
| S3 | 5.99 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.56 | 6.49 % | |
| R2 | 6.43 | 4.38 % | ||
| R1 | 6.33 | 2.76 % | ||
| Current price | 6.16 | |||
| Support | S1 | 6.11 | -0.81% | |
| S2 | 6.08 | -1.30% | ||
| S3 | 5.60 | -9.09% |
300039 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ¥0.0600 | 0.759% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ¥0.0500 | 0.82% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | ¥0.0300 | 0.616% |
| 4 | Jun 12, 2020 | Jun 12, 2020 | Jun 12, 2020 | ¥0.100 | 1.95% |
| 5 | May 30, 2019 | May 30, 2019 | May 30, 2019 | ¥0.100 | 2.28% |
FAQ
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