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AI Analysis of HCM.L
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Green day on Wednesday for Hutchison China Meditech Ltd ADR stock after gaining 0.189%
(Updated on Mar 27, 2024)

Buy or Hold candidate since Feb 21, 2024 Gain 15.50% PDF

The Hutchison China Meditech Ltd ADR stock price gained 0.189% on the last trading day (Wednesday, 27th Mar 2024), rising from £264.00 to £264.50. During the last trading day the stock fluctuated 4.04% from a day low at £261.91 to a day high of £272.50. The price has fallen in 5 of the last 10 days and is down by -8.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 61 thousand shares were bought and sold for approximately £16.12 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 4.98% during the next 3 months and, with a 90% probability hold a price between £210.52 and £306.23 at the end of this 3-month period.

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HCM.L 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 £267.86. On a fall, the stock will find some support from the long-term average at approximately £245.57. 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). 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -8.64%. Further fall is indicated until a new bottom pivot has been found.

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

Hutchison China Meditech Ltd ADR finds support from accumulated volume at £261.50 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved £10.59 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: £249.88 (-5.53%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (HCM.L) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Hutchison China Meditech Ltd ADR (Sponsored) to open at £266.30, and during the day (based on 14 day Average True Range), to move between £248.58 and £280.42, which gives a possible trading interval of +/-£15.92 (+/-6.02%) 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 12.04% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £261.50 (1.13%) than the resistance at £271.00 (2.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hutchison China Meditech Ltd ADR (Sponsored) stock A Buy?

Hutchison China Meditech Ltd ADR 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.

Current score: -0.416 Hold/Accumulate Unchanged

Predicted Opening Price for Hutchison China Meditech Ltd ADR (Sponsored) of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
£266.30 ( 0.681%) £264.50

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

Trading levels for HCM.L

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 276.90 4.69 %
R2 272.85 3.16 %
R1 270.35 2.21 %
Current price: 264.50
Support S1 262.26 -0.85 %
S2 259.75 -1.79 %
S3 255.71 -3.32 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 289.50 9.45 %
R2 283.00 6.99 %
R1 271.00 2.46 %
Current price 264.50
Support S1 261.50 -1.13%
S2 222.00 -16.07%
S3 210.50 -20.42%

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.L and it is traded on the XLON (London Stock Exchange).

Should I buy or sell Hutchison China Meditech Ltd ADR (Sponsored) Stock?
Hutchison China Meditech Ltd ADR 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.

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 2024-03-27, the price of an Hutchison China Meditech Ltd ADR (Sponsored) (HCM.L) share was £264.50.

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 £338.00 and the 52-week low is £173.60.

What is the market capitalization of Hutchison China Meditech Ltd ADR (Sponsored) Stock?
As of the 2024-03-27, the market capitalization of Hutchison China Meditech Ltd ADR (Sponsored) is 2.304B.

When is the next earnings date for Hutchison China Meditech Ltd ADR (Sponsored)?
The upcoming earnings date for Hutchison China Meditech Ltd ADR (Sponsored) is Jul 29, 2024.
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About Hutchison China Meditech Ltd ADR (Sponsored)

Hutchison China Meditech Ltd ADR (Sponsored) HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for ... HCM.L Profile

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