Jiangsu Jibeier Pharmaceutical Co., Ltd. Stock Forecast
Jiangsu Jibeier Pharmaceutical Co., Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Jiangsu Jibeier Pharmaceutical Co., Ltd. stock price gained 3.21% on the last trading day (Wednesday, 26th Jun 2024), rising from $22.40 to $23.12. During the last trading day the stock fluctuated 4.04% from a day low at $22.27 to a day high of $23.17. The price has fallen in 5 of the last 10 days and is down by -6.77% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $24.88 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 $22.39 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Jiangsu Jibeier Pharmaceutical Co., Ltd. stock with a 90% probability to be traded between $22.02 and $28.31 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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688566.SS Signals & Forecast
There are mixed signals in the stock today. The Jiangsu Jibeier 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 $23.38 and $25.33. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 3.21%. 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 Jiangsu Jibeier Pharmaceutical Co., Ltd. stock
Jiangsu Jibeier Pharmaceutical Co., Ltd. finds support from accumulated volume at $22.93 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 $0.90 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 4.17%.
Our recommended stop-loss: $21.90 (-5.28%) (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 (688566.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Jiangsu Jibeier Pharmaceutical Co., Ltd. to open at $22.85, and during the day (based on 14 day Average True Range), to move between $22.24 and $24.00, which gives a possible trading interval of +/-$0.88 (+/-3.79%) up or down from last closing price. If Jiangsu Jibeier Pharmaceutical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.93 (0.82%) than the resistance at $26.05 (12.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Jibeier Pharmaceutical Co., Ltd. stock A Buy?
Jiangsu Jibeier Pharmaceutical Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.571 Hold/Accumulate Upgraded
Predicted Opening Price for Jiangsu Jibeier Pharmaceutical Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $22.85 ( 1.15%) | $23.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688566.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.75 | 2.74% |
| R2 | 23.41 | 1.25% |
| R1 | 23.20 | 0.334% |
| Price | 23.12 | |
| S1 | 22.51 | -2.64% |
| S2 | 22.30 | -3.56% |
| S3 | 21.95 | -5.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 28.29 | 22.36% |
| R2 | 26.40 | 14.19% |
| R1 | 26.05 | 12.67% |
| Price | 23.12 | |
| S1 | 22.93 | -0.82% |
| S2 | 22.60 | -2.25% |
| S3 | 21.61 | -6.53% |
688566 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | $0.240 | 0.637% |
| 2 | Oct 25, 2022 | Oct 25, 2022 | Oct 25, 2022 | $0.240 | 1.33% |
| 3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | $0.240 | 1.31% |
| 4 | Oct 26, 2021 | Oct 26, 2021 | Oct 26, 2021 | $0.240 | 1.14% |
| 5 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | $0.240 | 0.98% |
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