Hansoh Pharmaceutical Group Co Ltd Stock Forecast
Green day on Friday for Hansoh Pharmaceutical Group Co Ltd stock after gaining 1.33%
(Updated on May 17, 2024)
The Hansoh Pharmaceutical Group Co Ltd stock price gained 1.33% on the last trading day (Friday, 17th May 2024), rising from HK$18.00 to HK$18.24. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.89% from a day low at HK$18.00 to a day high of HK$18.52. The price has risen in 7 of the last 10 days and is up by 0.33% over the past 2 weeks. Volume fell on the last day by -6 million shares and in total, 4 million shares were bought and sold for approximately HK$75.05 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 strong 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 38.41% during the next 3 months and, with a 90% probability hold a price between HK$23.51 and HK$26.22 at the end of this 3-month period.
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3692.HK Signals & Forecast
The Hansoh Pharmaceutical Group 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 HK$17.96 and HK$16.66. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.437%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hansoh Pharmaceutical Group Co Ltd stock
Hansoh Pharmaceutical Group Co Ltd finds support from accumulated volume at HK$18.00 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 HK$0.520 between high and low, or 2.89%. For the last week, the stock has had daily average volatility of 3.42%.
Our recommended stop-loss: HK$17.66 (-3.19%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (3692.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hansoh Pharmaceutical Group Co Ltd to open at HK$18.25, and during the day (based on 14 day Average True Range), to move between HK$17.60 and HK$18.88, which gives a possible trading interval of +/-HK$0.636 (+/-3.49%) up or down from last closing price. If Hansoh Pharmaceutical Group Co Ltd takes out the full calculated possible swing range there will be an estimated 6.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$18.30 (0.33%) than the support at HK$18.00 (1.32%), 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 Hansoh Pharmaceutical Group Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hansoh Pharmaceutical Group Co Ltd stock to perform well in the short-term.
Current score: 2.281 Buy Candidate Unchanged
Predicted Opening Price for Hansoh Pharmaceutical Group Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$18.25 ( 0.0731%) | HK$18.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3692.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.77 | 2.92 % | |
| R2 | 18.57 | 1.83 % | ||
| R1 | 18.45 | 1.16 % | ||
| Current price: | 18.24 | |||
| Support | S1 | 18.05 | -1.02 % | |
| S2 | 17.93 | -1.69 % | ||
| S3 | 17.73 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 18.32 | 0.439 % | ||
| R1 | 18.30 | 0.329 % | ||
| Current price | 18.24 | |||
| Support | S1 | 18.00 | -1.32% | |
| S2 | 15.48 | -15.13% | ||
| S3 | 15.04 | -17.54% |
3692 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jul 17, 2024 | HK$0.142 | 0.780% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | HK$0.0500 | 0.378% |
| 3 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | HK$0.0500 | 0.380% |
| 4 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | HK$0.0900 | 0.692% |
| 5 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | HK$0.0900 | 0.714% |
FAQ
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