Wuhan Department Store Group Co. Ltd. Stock Forecast
Green day on Monday for Wuhan Department Store Group Co. Ltd.
(Updated on May 20, 2024)
The Wuhan Department Store Group Co. Ltd. stock price gained 0.89% on the last trading day (Monday, 20th May 2024), rising from ¥7.89 to ¥7.96. It 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 1.27% from a day low at ¥7.88 to a day high of ¥7.98. The price has risen in 7 of the last 10 days and is up by 4.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 509 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥59.94 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥7.92, a level that may pose a second chance to hit a runner. According to fan-theory ¥8.60 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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000501.SZ Signals & Forecast
Mostly positive signals in the chart today. The Wuhan Department Store Group Co. Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥7.84 and ¥7.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.48%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Wuhan Department Store Group Co. Ltd. stock
Wuhan Department Store Group Co. Ltd. finds support from accumulated volume at ¥7.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.100 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 2.20%.
The Wuhan Department Store Group Co. Ltd. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ¥7.68 (-3.52%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (000501.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Wuhan Department Store Group Co. Ltd. to open at ¥7.94, and during the day (based on 14 day Average True Range), to move between ¥7.76 and ¥8.16, which gives a possible trading interval of +/-¥0.202 (+/-2.54%) up or down from last closing price. If Wuhan Department Store Group Co. Ltd. takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥7.64, some ¥0.320 (4.02%) from the current price of ¥7.96, our system finds the risk reward attractive.
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Is Wuhan Department Store Group Co. Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Wuhan Department Store Group Co. Ltd. stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Current score: 4.845 Buy Candidate Unchanged
Predicted Opening Price for Wuhan Department Store Group Co. Ltd. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥7.94 ( 0.251%) | ¥7.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000501.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.04 | 1.01 % | |
| R2 | 8.00 | 0.525 % | ||
| R1 | 7.98 | 0.229 % | ||
| Current price: | 7.96 | |||
| Support | S1 | 7.90 | -0.731 % | |
| S2 | 7.88 | -1.03 % | ||
| S3 | 7.84 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.96 | |||
| Support | S1 | 7.64 | -4.02% | |
| S2 | 7.49 | -5.90% | ||
| S3 | 7.38 | -7.29% |
000501 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.0500 | 0.494% |
| 2 | May 18, 2022 | May 18, 2022 | May 18, 2022 | ¥0.160 | 1.60% |
| 3 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | ¥0.150 | 1.31% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.220 | 1.72% |
| 5 | May 23, 2019 | May 23, 2019 | May 23, 2019 | ¥0.200 | 1.87% |
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