WEICHAI PWR/Shs A Vtg 1.00 stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Aug 05, 2022)

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

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