Hansoh Pharmaceutical Group Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Hansoh Pharmaceutical Group Co Ltd stock downgraded to Sell Candidate
(Updated on May 31, 2024)
The Hansoh Pharmaceutical Group Co Ltd stock price gained 0.375% on the last trading day (Friday, 31st May 2024), rising from HK$16.00 to HK$16.06. During the last trading day the stock fluctuated 4.90% from a day low at HK$15.92 to a day high of HK$16.70. The price has fallen in 6 of the last 10 days and is down by -11.95% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately HK$107.88 million.
Given the current short-term trend, the stock is expected to rise 24.64% during the next 3 months and, with a 90% probability hold a price between HK$20.02 and HK$23.62 at the end of this 3-month period.
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3692.HK Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hansoh Pharmaceutical Group 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 HK$16.54 and HK$17.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -12.62%. 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).
Support, Risk & Stop-loss for Hansoh Pharmaceutical Group Co Ltd stock
Hansoh Pharmaceutical Group Co Ltd finds support from accumulated volume at HK$15.48 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$0.780 between high and low, or 4.90%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3692.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Hansoh Pharmaceutical Group Co Ltd to open at HK$16.23, and during the day (based on 14 day Average True Range), to move between HK$15.33 and HK$16.79, which gives a possible trading interval of +/-HK$0.728 (+/-4.53%) 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 9.06% 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$15.48 (3.61%) than the resistance at HK$16.80 (4.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hansoh Pharmaceutical Group Co Ltd stock A Buy?
The Hansoh Pharmaceutical Group Co Ltd stock holds several negative signals and despite the positive trend, we believe Hansoh Pharmaceutical Group 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 Hold/Accumulate to a Sell candidate.
Current score: -2.667 Sell Candidate Downgraded
Predicted Opening Price for Hansoh Pharmaceutical Group Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$16.23 ( 1.04%) | HK$16.06 |
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 | 17.01 | 5.89 % | |
| R2 | 16.71 | 4.04 % | ||
| R1 | 16.52 | 2.89 % | ||
| Current price: | 16.06 | |||
| Support | S1 | 15.93 | -0.82 % | |
| S2 | 15.74 | -1.96 % | ||
| S3 | 15.45 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.30 | 13.95 % | |
| R2 | 18.00 | 12.08 % | ||
| R1 | 16.80 | 4.61 % | ||
| Current price | 16.06 | |||
| Support | S1 | 15.48 | -3.61% | |
| S2 | 15.04 | -6.35% | ||
| S3 | 14.66 | -8.72% |
3692 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jul 17, 2024 | HK$0.142 | 0.89% |
| 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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