Zhejiang Ausun Pharmaceutical Co., Ltd. Stock Forecast
Zhejiang Ausun Pharmaceutical Co., Ltd. stock price down 3.21% on Thursday
(Updated on Jul 04, 2024)
The Zhejiang Ausun Pharmaceutical Co., Ltd. stock price fell by -3.21% on the last day (Thursday, 4th Jul 2024) from $9.98 to $9.66. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.58% from a day low at $9.60 to a day high of $10.04. The price has fallen in 7 of the last 10 days and is down by -6.85% for this period. Volume has increased on the last day by 966 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, 3 million shares were bought and sold for approximately $33.52 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $9.44 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Zhejiang Ausun Pharmaceutical Co., Ltd. stock with a 90% probability to be traded between $9.34 and $11.78 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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603229.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Zhejiang Ausun 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 $10.05 and $10.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -19.43%. 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 Zhejiang Ausun Pharmaceutical Co., Ltd. stock
Zhejiang Ausun Pharmaceutical Co., Ltd. finds support from accumulated volume at $9.55 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 $0.440 between high and low, or 4.58%. For the last week, the stock has had daily average volatility of 2.72%.
Zhejiang Ausun Pharmaceutical Co., Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603229.SS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Zhejiang Ausun Pharmaceutical Co., Ltd. to open at $9.77, and during the day (based on 14 day Average True Range), to move between $9.35 and $9.97, which gives a possible trading interval of +/-$0.311 (+/-3.21%) up or down from last closing price. If Zhejiang Ausun Pharmaceutical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.55 (1.14%) than the resistance at $11.34 (17.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Ausun Pharmaceutical Co., Ltd. stock A Buy?
Zhejiang Ausun Pharmaceutical Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.674 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Ausun Pharmaceutical Co., Ltd. of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$9.77 ( 1.10%) | $9.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603229.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.21 | 5.66% |
R2 | 10.04 | 3.92% |
R1 | 9.93 | 2.84% |
Price | 9.66 | |
S1 | 9.60 | -0.636% |
S2 | 9.49 | -1.71% |
S3 | 9.33 | -3.45% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.81 | 22.26% |
R2 | 11.61 | 20.19% |
R1 | 11.34 | 17.39% |
Price | 9.66 | |
S1 | 9.55 | -1.14% |
S2 | 0 | - |
S3 | 0 | - |
603229 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | $0.112 | 0.752% |
2 | May 26, 2022 | May 26, 2022 | May 26, 2022 | $0.102 | 0.324% |
3 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | $0.0450 | 0.254% |
4 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | $0.0446 | 0.206% |
5 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | $0.0234 | 0.625% |
FAQ
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