CSPC Innovation Pharmaceutical Co Ltd Stock Forecast
Big movements in CSPC Innovation Pharmaceutical Co Ltd stock price on Thursday moving 14.32% between high and low
(Updated on Apr 25, 2024)
The CSPC Innovation Pharmaceutical Co Ltd stock price fell by -13.80% on the last day (Thursday, 25th Apr 2024) from ¥38.63 to ¥33.30. During the last trading day the stock fluctuated 14.32% from a day low at ¥31.50 to a day high of ¥36.01. The price has risen in 6 of the last 10 days but is still down by -8.94% for this period. Volume has increased on the last day by 470 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, 13 million shares were bought and sold for approximately ¥437.58 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ¥34.59. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
300765.SZ Signals & Forecast
There are few to no technical positive signals at the moment. The CSPC Innovation Pharmaceutical Co 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 ¥36.24 and ¥37.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -19.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 CSPC Innovation Pharmaceutical Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥29.15 and ¥28.07. 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, CSPC Innovation Pharmaceutical Co Ltd finds support just below today's level at ¥29.15. If this is broken, then the next support from accumulated volume will be at ¥28.07 and ¥27.82.
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 ¥4.51 (14.32%) between high and low. For the last week, the stock has had daily average volatility of 8.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (300765.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect CSPC Innovation Pharmaceutical Co Ltd to open at ¥33.60, and during the day (based on 14 day Average True Range), to move between ¥30.87 and ¥35.73, which gives a possible trading interval of +/-¥2.43 (+/-7.29%) up or down from last closing price. If CSPC Innovation Pharmaceutical Co Ltd takes out the full calculated possible swing range there will be an estimated 14.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥34.28 (2.94%) than the support at ¥29.15 (12.46%), 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 CSPC Innovation Pharmaceutical Co Ltd stock A Buy?
The CSPC Innovation Pharmaceutical Co Ltd stock holds several negative signals and despite the positive trend, we believe CSPC Innovation Pharmaceutical Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.827 Sell Candidate Downgraded
Predicted Opening Price for CSPC Innovation Pharmaceutical Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥33.60 ( 0.91%) | ¥33.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300765.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.11 | 14.45 % | |
| R2 | 36.39 | 9.28 % | ||
| R1 | 35.33 | 6.08 % | ||
| Current price: | 33.30 | |||
| Support | S1 | 31.88 | -4.26 % | |
| S2 | 30.82 | -7.46 % | ||
| S3 | 29.09 | -12.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.40 | 24.32 % | |
| R2 | 38.42 | 15.38 % | ||
| R1 | 34.28 | 2.94 % | ||
| Current price | 33.30 | |||
| Support | S1 | 29.15 | -12.46% | |
| S2 | 28.07 | -15.71% | ||
| S3 | 27.82 | -16.46% |
300765 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | Apr 25, 2024 | Apr 25, 2024 | ¥0.320 | 0.96% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | ¥0.150 | 1.21% |
| 3 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ¥0.0833 | 1.11% |
| 4 | Apr 28, 2021 | Apr 28, 2021 | Apr 28, 2021 | ¥0.0427 | 0.562% |
| 5 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | ¥0.0285 | 0.298% |
FAQ
Click here for our free guide on how to buy CSPC Innovation Pharmaceutical Co Ltd Stock.
