China Biotech Services Holdings Limited Stock Forecast

Volatile ride for China Biotech Services Holdings Limited stock price on Friday moving between HK$0.305 and HK$0.365
(Updated on May 10, 2024)

8037.HK Signals & Forecast

Mostly positive signals in the chart today. The China Biotech Services Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.309 and HK$0.312. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 30.77%. 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). China Biotech Services Holdings Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Biotech Services Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.295 and HK$0.280. 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, China Biotech Services Holdings Limited finds support just below today's level at HK$0.295. If this is broken, then the next support from accumulated volume will be at HK$0.280 and HK$0.275.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0600 between high and low, or 19.67%. For the last week, the stock has had daily average volatility of 12.52%.

Our recommended stop-loss: HK$0.328 (-3.62%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (8037.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect China Biotech Services Holdings Limited to open at HK$0.337, and during the day (based on 14 day Average True Range), to move between HK$0.309 and HK$0.371, which gives a possible trading interval of +/-HK$0.0309 (+/-9.10%) up or down from last closing price. If China Biotech Services Holdings Limited takes out the full calculated possible swing range there will be an estimated 18.20% 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$0.355 (4.41%) than the support at HK$0.295 (13.24%), 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 China Biotech Services Holdings Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.831 Buy Candidate Upgraded

Predicted Opening Price for China Biotech Services Holdings Limited of Monday, May 13, 2024

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