Huawen Media Group Stock Forecast
High volatility in Huawen Media Group stock price on Tuesday which ended trading at ¥1.13
(Updated on Jun 25, 2024)
The Huawen Media Group stock price fell by -9.60% on the last day (Tuesday, 25th Jun 2024) from ¥1.25 to ¥1.13. During the last trading day the stock fluctuated 11.50% from a day low at ¥1.13 to a day high of ¥1.26. The price has risen in 6 of the last 10 days and is up by 11.88% over the past 2 weeks. Volume has increased on the last day by 6 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 162 million shares were bought and sold for approximately ¥182.63 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.22% during the next 3 months and, with a 90% probability hold a price between ¥0.497 and ¥1.06 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000793.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huawen Media Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ¥1.31 and ¥1.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -23.13%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Huawen Media Group stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥0.92 and ¥0.87. 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, Huawen Media Group finds support just below today's level at ¥0.92. If this is broken, then the next support from accumulated volume will be at ¥0.87 and ¥0.86.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥0.130 between high and low, or 11.50%. For the last week, the stock has had daily average volatility of 16.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000793.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Huawen Media Group to open at ¥1.17, and during the day (based on 14 day Average True Range), to move between ¥0.96 and ¥1.30, which gives a possible trading interval of +/-¥0.173 (+/-15.27%) up or down from last closing price. If Huawen Media Group takes out the full calculated possible swing range there will be an estimated 30.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.25 (10.62%) than the support at ¥0.92 (18.58%), 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 Huawen Media Group stock A Buy?
Huawen Media Group holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.784 Sell Candidate Unchanged
Predicted Opening Price for Huawen Media Group of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥1.17 ( 3.83%) | ¥1.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000793.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.30 | 15.34% |
| R2 | 1.25 | 10.94% |
| R1 | 1.22 | 8.23% |
| Price | 1.13 | |
| S1 | 1.12 | -0.560% |
| S2 | 1.09 | -3.27% |
| S3 | 1.04 | -7.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.30 | 15.04% |
| R2 | 1.28 | 13.27% |
| R1 | 1.25 | 10.62% |
| Price | 1.13 | |
| S1 | 0.92 | -18.58% |
| S2 | 0.87 | -23.01% |
| S3 | 0.86 | -23.89% |
000793 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2018 | Jul 17, 2018 | Jul 17, 2018 | ¥0.0150 | 0.221% |
| 2 | Aug 09, 2017 | Aug 09, 2017 | Aug 09, 2017 | ¥0.0450 | 0.417% |
| 3 | Jun 08, 2016 | Jun 08, 2016 | Jun 08, 2016 | ¥0.0450 | 0.453% |
| 4 | Jun 10, 2015 | Jun 10, 2015 | Jun 10, 2015 | ¥0.0500 | 0.240% |
| 5 | Jun 17, 2014 | Jun 17, 2014 | Jun 17, 2014 | ¥0.0400 | 0.333% |
FAQ
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