Zhejiang East Asia Pharmaceutical Co., Stock Forecast

Zhejiang East Asia Pharmaceutical Co., stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)

605177.SS Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 4.44%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Zhejiang East Asia Pharmaceutical Co., 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 $22.36 and $23.85. A break-up above any of these levels will issue buy signals. 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 East Asia Pharmaceutical Co., stock

Zhejiang East Asia Pharmaceutical Co., finds support from accumulated volume at $21.37 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 $0.700 between high and low, or 3.18%. For the last week, the stock has had daily average volatility of 3.98%.

Our recommended stop-loss: $21.32 (-3.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (605177.SS) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Zhejiang East Asia Pharmaceutical Co., Ltd. to open at $22.30, and during the day (based on 14 day Average True Range), to move between $21.13 and $23.11, which gives a possible trading interval of +/-$0.99 (+/-4.46%) up or down from last closing price. If Zhejiang East Asia Pharmaceutical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.55 (1.94%) than the support at $21.37 (3.39%), 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 Zhejiang East Asia Pharmaceutical Co., Ltd. stock A Buy?

Zhejiang East Asia Pharmaceutical Co., holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.626 Hold/Accumulate Upgraded

Predicted Opening Price for Zhejiang East Asia Pharmaceutical Co., Ltd. of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.