Jiangxi Synergy Pharmaceutical Co Ltd Stock Forecast

Jiangxi Synergy Pharmaceutical Co Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)

300636.SZ Signals & Forecast

Mostly positive signals in the chart today. The Jiangxi Synergy Pharmaceutical Co 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 ¥10.27 and ¥8.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 47.53%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Jiangxi Synergy Pharmaceutical Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥9.32 and ¥8.93. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Jiangxi Synergy Pharmaceutical Co Ltd finds support just below today's level at ¥9.32. If this is broken, then the next support from accumulated volume will be at ¥8.93 and ¥8.60.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.92 between high and low, or 9.14%. For the last week, the stock has had daily average volatility of 11.33%.

The Jiangxi Synergy Pharmaceutical Co Ltd stock is extremely overbought on RSI14 (76). 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: ¥10.37 (-3.48%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (300636.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Jiangxi Synergy Pharmaceutical Co Ltd to open at ¥10.60, and during the day (based on 14 day Average True Range), to move between ¥9.91 and ¥11.57, which gives a possible trading interval of +/-¥0.83 (+/-7.69%) up or down from last closing price. If Jiangxi Synergy Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 15.38% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ¥9.32, some ¥1.42 (13.22%) from the current price of ¥10.74, our system finds the risk reward attractive.

Is Jiangxi Synergy Pharmaceutical Co Ltd stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Jiangxi Synergy Pharmaceutical Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.063 Strong Buy Candidate Upgraded

Predicted Opening Price for Jiangxi Synergy Pharmaceutical Co Ltd of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.