Weichai Heavy Machinery Co Ltd Stock Forecast

Green day on Friday for Weichai Heavy Machinery Co Ltd stock after gaining 0.670%
(Updated on May 17, 2024)

000880.SZ Signals & Forecast

Mostly positive signals in the chart today. The Weichai Heavy Machinery Co Ltd 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 ¥9.08. On a fall, the stock will find some support from the long-term average at approximately ¥8.90. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 10.96%. 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 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 Heavy Machinery Co Ltd stock

Weichai Heavy Machinery Co Ltd finds support from accumulated volume at ¥8.93 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 ¥0.180 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 2.38%.

Our recommended stop-loss: ¥8.52 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (000880.SZ) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Weichai Heavy Machinery Co Ltd to open at ¥9.00, and during the day (based on 14 day Average True Range), to move between ¥8.67 and ¥9.35, which gives a possible trading interval of +/-¥0.338 (+/-3.75%) up or down from last closing price. If Weichai Heavy Machinery Co Ltd takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ¥8.93 (0.89%) than the resistance at ¥9.19 (2.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Weichai Heavy Machinery Co Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Weichai Heavy Machinery Co Ltd stock to perform well in the short-term.

Current score: 3.881 Buy Candidate Unchanged

Predicted Opening Price for Weichai Heavy Machinery Co Ltd of Monday, May 20, 2024

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