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WEICHAI PWR/Shs A Vtg 1.00 Stock Forecast

SZCE:000338 BUY

¥11.79 (1.73%)

Volume: 54.847M

Closed: Aug 05, 2022

Hollow Logo Score: -0.893

WEICHAI PWR/Shs A Vtg 1.00 Stock Forecast

BUY SZCE:000338
¥11.79 (1.73%)

Volume: 54.847M

Closed: Aug 05, 2022

Score Hollow Logo -0.893
Which way will 000338.SZ go? Request
Fri, Aug 05, 2022 Hold/Accumulate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] RSI14 is 39 and the stock is currently not being overbought or oversold
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WEICHAI PWR/Shs A Vtg 1.00 stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Aug 05, 2022)


Hold candidate since 2022-08-05 PDF

The WEICHAI PWR/Shs A Vtg 1.00 stock price gained 1.73% on the last trading day (Friday, 5th Aug 2022), rising from ¥11.59 to ¥11.79. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.16% from a day low at ¥11.59 to a day high of ¥11.84. The price has risen in 5 of the last 10 days, but is still down by -3.12% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 million more shares were traded than the day before. In total, 55 million shares were bought and sold for approximately ¥646.65 million.

The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥11.54 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.43% during the next 3 months and, with a 90% probability hold a price between ¥12.52 and ¥14.36 at the end of this 3-month period.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, August 03, 2022, and so far it has risen 2.43%. Further rise is indicated until a new top pivot has been found. 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. The WEICHAI PWR/Shs A Vtg 1.00 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 ¥11.89 and ¥12.29. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss

WEICHAI PWR/Shs A Vtg 1.00 finds support from accumulated volume at ¥11.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.25 (2.16%) between high and low. For the last week, the stock has had a daily average volatility of 2.33%.

Our recommended stop-loss: ¥11.16 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations For The Upcoming Trading Day Of Monday 8th

For the upcoming trading day on Monday 8th we expect WEICHAI PWR/Shs A Vtg 1.00 to open at ¥11.74, and during day (based on 14 day Average True Range), to move between ¥11.47 and ¥12.11, which gives a possible trading interval of +/-¥0.32 (+/-2.73%) 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 5.47% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥11.86 (0.59%) than the support at ¥11.58 (1.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is WEICHAI PWR/Shs A Vtg 1.00 stock A Buy?

WEICHAI PWR/Shs A Vtg 1.00 holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.893

Hold/Accumulate Upgraded

Predicted Opening Price for WEICHAI PWR/Shs A Vtg 1.00 of Monday, August 8, 2022

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

Fair opening price August 8, 2022 Current price
¥11.74 ¥11.79 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 11.99 1.70 %
11.89 0.89 %
11.84 0.39 %
Current price: 11.79
Support 11.64 -1.23 %
11.59 -1.73 %
11.49 -2.54 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 12.92 9.58 %
12.65 7.29 %
11.86 0.59 %
Current price 11.79
Support 11.58 -1.78%
11.30 -4.16%
10.80 -8.40%

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About WEICHAI PWR/Shs A Vtg 1.00

WEICHAI PWR/Shs A Vtg 100 China Vanke Co., Ltd., together with its subsidiaries, engages in the development and sale of properties in the Mainland China, Hong Kong, and internationally. The company operates through Property Development and Property Management segments. It develops residential buildings, commercial offices, and other ancillary facilities. The company also provides property management and related services to purchasers and tenants of its own developed resid... Read more

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