CanSino Biologics Inc. Stock Forecast
Green day on Wednesday for CanSino Biologics Inc.
(Updated on Jun 26, 2024)
The CanSino Biologics Inc. stock price gained 2.96% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$19.62 to HK$20.20. During the last trading day the stock fluctuated 4.66% from a day low at HK$19.30 to a day high of HK$20.20. The price has fallen in 6 of the last 10 days and is down by -9.21% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 77 thousand more shares were traded than the day before. In total, 463 thousand shares were bought and sold for approximately HK$9.36 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$19.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.19% during the next 3 months and, with a 90% probability hold a price between HK$24.87 and HK$31.02 at the end of this 3-month period.
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6185.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 CanSino Biologics Inc. 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$20.24 and HK$21.22. 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 28, 2024, and so far it has fallen -11.60%. 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 CanSino Biologics Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$19.14 and HK$18.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CanSino Biologics Inc. finds support just below today's level at HK$19.14. If this is broken, then the next support from accumulated volume will be at HK$18.40 and HK$17.28.
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$0.90 between high and low, or 4.66%. For the last week, the stock has had daily average volatility of 5.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6185.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect CanSino Biologics Inc. to open at HK$19.90, and during the day (based on 14 day Average True Range), to move between HK$19.14 and HK$21.26, which gives a possible trading interval of +/-HK$1.06 (+/-5.25%) up or down from last closing price. If CanSino Biologics Inc. takes out the full calculated possible swing range there will be an estimated 10.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$20.95 (3.71%) than the support at HK$19.14 (5.25%), 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 CanSino Biologics Inc. stock A Buy?
The CanSino Biologics Inc. stock holds several negative signals and despite the positive trend, we believe CanSino Biologics Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.181 Sell Candidate Unchanged
Predicted Opening Price for CanSino Biologics Inc. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$19.90 ( 1.49%) | HK$20.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6185.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.80 | 2.97% |
| R2 | 20.46 | 1.27% |
| R1 | 20.24 | 0.217% |
| Price | 20.20 | |
| S1 | 19.56 | -3.19% |
| S2 | 19.34 | -4.24% |
| S3 | 19.00 | -5.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.70 | 12.38% |
| R2 | 21.15 | 4.70% |
| R1 | 20.95 | 3.71% |
| Price | 20.20 | |
| S1 | 19.14 | -5.25% |
| S2 | 18.40 | -8.91% |
| S3 | 17.28 | -14.46% |
6185 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | HK$0.94 | 1.31% |
FAQ
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