Shandong Bailong Chuangyuan Bio-Tech Stock Forecast
Shandong Bailong Chuangyuan Bio-Tech stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Shandong Bailong Chuangyuan Bio-Tech stock price fell by -0.91% on the last day (Friday, 21st Jun 2024) from $22.02 to $21.82. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 2.07% from a day low at $21.75 to a day high of $22.20. The price has fallen in 7 of the last 10 days and is down by -2.37% for this period. Volume has increased on the last day by 429 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, 1 million shares were bought and sold for approximately $26.34 million.
Given the current horizontal trend, you can expect Shandong Bailong Chuangyuan Bio-Tech stock with a 90% probability to be traded between $21.95 and $31.09 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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605016.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shandong Bailong Chuangyuan Bio-Tech 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 $22.26 and $27.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -29.27%. 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 Shandong Bailong Chuangyuan Bio-Tech stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.450 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 1.99%.
Shandong Bailong Chuangyuan Bio-Tech is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (605016.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Shandong Bailong Chuangyuan Bio-Tech Co., Ltd. to open at $21.92, and during the day (based on 14 day Average True Range), to move between $20.91 and $22.73, which gives a possible trading interval of +/-$0.91 (+/-4.18%) up or down from last closing price. If Shandong Bailong Chuangyuan Bio-Tech Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.35% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $22.35, some $0.530 (2.43%) from the current price of $21.82, our system finds the risk reward not very attractive.
Is Shandong Bailong Chuangyuan Bio-Tech Co., Ltd. stock A Buy?
Shandong Bailong Chuangyuan Bio-Tech 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.007 Strong Sell Candidate Downgraded
Predicted Opening Price for Shandong Bailong Chuangyuan Bio-Tech Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $21.92 ( 0.474%) | $21.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 605016.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.37 | 2.54% |
| R2 | 22.20 | 1.75% |
| R1 | 22.10 | 1.26% |
| Price | 21.82 | |
| S1 | 21.75 | -0.314% |
| S2 | 21.65 | -0.80% |
| S3 | 21.47 | -1.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.75 | 18.01% |
| R2 | 23.97 | 9.85% |
| R1 | 22.35 | 2.43% |
| Price | 21.82 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
605016 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | $0.240 | 1.07% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | $0.170 | 1.06% |
| 3 | Jul 01, 2022 | Jul 01, 2022 | Jul 01, 2022 | $0.0850 | 0.484% |
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