WEICHAI PWR/Shs A Vtg 1.00 Stock Forecast

Green day on Wednesday for WEICHAI PWR/Shs A Vtg 1.00 stock after gaining 1.48%
(Updated on Apr 24, 2024)

000338.SZ Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -3.79%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The WEICHAI PWR/Shs A Vtg 1.00 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 ¥18.14. On a fall, the stock will find some support from the long-term average at approximately ¥17.04. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for WEICHAI PWR/Shs A Vtg 1.00 stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥16.33 and ¥16.28. 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, WEICHAI PWR/Shs A Vtg 1.00 finds support just below today's level at ¥16.33. If this is broken, then the next support from accumulated volume will be at ¥16.28 and ¥15.47.

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 ¥1.03 between high and low, or 5.96%. For the last week, the stock has had daily average volatility of 5.07%.

Our recommended stop-loss: ¥16.94 (-4.79%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (000338.SZ) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect WEICHAI PWR/Shs A Vtg 1.00 to open at ¥17.79, and during the day (based on 14 day Average True Range), to move between ¥17.09 and ¥18.49, which gives a possible trading interval of +/-¥0.696 (+/-3.91%) up or down from last closing price. If WEICHAI PWR/Shs A Vtg 1.00 takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥17.90 (0.62%) than the support at ¥16.33 (8.21%), 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 WEICHAI PWR/Shs A Vtg 1.00 stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 2.389 Buy Candidate Unchanged

Predicted Opening Price for WEICHAI PWR/Shs A Vtg 1.00 of Thursday, April 25, 2024

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