Shanghai Pharmaceuticals Holding Co., Stock Forecast
Stronger technical forecast for Shanghai Pharmaceuticals Holding Co., stock price after Tuesday trading.
(Updated on Jun 18, 2024)
The Shanghai Pharmaceuticals Holding Co., stock price gained 2.79% on the last trading day (Tuesday, 18th Jun 2024), rising from $18.67 to $19.19. 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 3.39% from a day low at $18.61 to a day high of $19.24. The price has risen in 6 of the last 10 days and is up by 4.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $449.06 million.
The stock lies in the middle of a 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 10.26% during the next 3 months and, with a 90% probability hold a price between $19.90 and $21.60 at the end of this 3-month period.
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601607.SS Signals & Forecast
Mostly positive signals in the chart today. The Shanghai Pharmaceuticals Holding Co., 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 $18.66 and $18.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 7.09%. 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 Shanghai Pharmaceuticals Holding Co., stock
Shanghai Pharmaceuticals Holding Co., finds support from accumulated volume at $18.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.630 between high and low, or 3.39%. For the last week the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: $18.21 (-5.09%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (601607.SS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Shanghai Pharmaceuticals Holding Co., Ltd to open at $19.01, and during the day (based on 14 day Average True Range), to move between $18.79 and $19.59, which gives a possible trading interval of +/-$0.397 (+/-2.07%) up or down from last closing price. If Shanghai Pharmaceuticals Holding Co., Ltd takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $18.85, some $0.340 (1.77%) from the current price of $19.19, our system finds the risk reward attractive.
Is Shanghai Pharmaceuticals Holding Co., Ltd stock A Buy?
Shanghai Pharmaceuticals Holding Co., holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.714 Strong Buy Candidate Upgraded
Predicted Opening Price for Shanghai Pharmaceuticals Holding Co., Ltd of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $19.01 ( 0.92%) | $19.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601607.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.64 | 2.36% |
| R2 | 19.40 | 1.11% |
| R1 | 19.25 | 0.333% |
| Price | 19.19 | |
| S1 | 18.77 | -2.17% |
| S2 | 18.62 | -2.95% |
| S3 | 18.38 | -4.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 19.19 | |
| S1 | 18.85 | -1.77% |
| S2 | 17.38 | -9.43% |
| S3 | 17.10 | -10.89% |
601607 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 20, 2023 | Jul 20, 2023 | Jul 20, 2023 | $0.610 | 3.03% |
| 2 | Jul 22, 2022 | Jul 22, 2022 | Jul 22, 2022 | $0.420 | 2.41% |
| 3 | Jul 19, 2021 | Jul 19, 2021 | Jul 19, 2021 | $0.480 | 2.44% |
| 4 | Jul 20, 2020 | Jul 20, 2020 | Jul 20, 2020 | $0.440 | 2.29% |
| 5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | $0.410 | 2.37% |
FAQ
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