RSI low/high Values: [ 25 - 75 ]
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AI Analysis of HCM
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Stronger technical forecast for Hutchison China Meditech Ltd ADR stock price after Thursday trading.
(Updated on Mar 28, 2024)

Buy candidate since Mar 28, 2024 PDF

The Hutchison China Meditech Ltd ADR stock price fell by -0.297% on the last day (Thursday, 28th Mar 2024) from $16.85 to $16.80. During the last trading day the stock fluctuated 2.16% from a day low at $16.69 to a day high of $17.05. The price has fallen in 6 of the last 10 days but is still up by 0.12% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -83 thousand shares and in total, 61 thousand shares were bought and sold for approximately $1.03 million.

The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.01% during the next 3 months and, with a 90% probability hold a price between $13.73 and $20.10 at the end of this 3-month period.

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HCM Signals & Forecast

The Hutchison China Meditech Ltd ADR stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $16.87. On a fall, the stock will find some support from the long-term average at approximately $15.57. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -9.48%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Hutchison China Meditech Ltd ADR stock

Hutchison China Meditech Ltd ADR finds support from accumulated volume at $16.39 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.360 between high and low, or 2.16%. For the last week the stock has had daily average volatility of 2.89%.

Our recommended stop-loss: $15.88 (-5.49%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (HCM) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Hutchison China Meditech Ltd ADR (Sponsored) to open at $16.85, and during the day (based on 14 day Average True Range), to move between $15.91 and $17.69, which gives a possible trading interval of +/-$0.89 (+/-5.31%) up or down from last closing price. If Hutchison China Meditech Ltd ADR (Sponsored) takes out the full calculated possible swing range there will be an estimated 10.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.09 (1.73%) than the support at $16.39 (2.44%), 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 Hutchison China Meditech Ltd ADR (Sponsored) stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hutchison China Meditech Ltd ADR stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.774 Buy Candidate Upgraded

Predicted Opening Price for Hutchison China Meditech Ltd ADR (Sponsored) of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$16.85 ( 0.278%) $16.80

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

Trading levels for HCM

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 17.21 2.42 %
R2 17.07 1.60 %
R1 16.98 1.10 %
Current price: 16.80
Support S1 16.71 -0.541 %
S2 16.62 -1.05 %
S3 16.49 -1.87 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 18.56 10.48 %
R2 17.27 2.80 %
R1 17.09 1.73 %
Current price 16.80
Support S1 16.39 -2.44%
S2 13.20 -21.43%
S3 12.93 -23.04%

FAQ

What is the symbol for Hutchison China Meditech Ltd ADR (Sponsored) Stock and on which exchange is it traded?
The symbol for Hutchison China Meditech Ltd ADR (Sponsored) is HCM and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Hutchison China Meditech Ltd ADR (Sponsored) Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hutchison China Meditech Ltd ADR stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy Hutchison China Meditech Ltd ADR (Sponsored) Stock?
Hutchison China Meditech Ltd ADR (Sponsored) Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Hutchison China Meditech Ltd ADR (Sponsored) Stock.

What's the current price of Hutchison China Meditech Ltd ADR (Sponsored) Stock?
As of the end of day on the 2024-03-28, the price of an Hutchison China Meditech Ltd ADR (Sponsored) (HCM) share was $16.80.

What is the 52-week high and low for Hutchison China Meditech Ltd ADR (Sponsored) Stock?
The 52-week high for Hutchison China Meditech Ltd ADR (Sponsored) Stock is $20.73 and the 52-week low is $10.68.

What is the market capitalization of Hutchison China Meditech Ltd ADR (Sponsored) Stock?
As of the 2024-03-28, the market capitalization of Hutchison China Meditech Ltd ADR (Sponsored) is 2.927B.
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