Wheelock and Company Limited Stock Forecast

Is Wheelock and Company Limited stock still a buy after falling -7.69% on Thursday?
(Updated on Jun 20, 2024)

0020.HK 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 Wheelock and Company Limited 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 HK$1.36 and HK$1.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -21.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Wheelock and Company Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.22 and HK$1.21. 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, Wheelock and Company Limited finds support just below today's level at HK$1.22. If this is broken, then the next support from accumulated volume will be at HK$1.21 and HK$1.19.

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 HK$0.130 between high and low, or 9.85%. For the last week, the stock has had daily average volatility of 6.02%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0020.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Wheelock and Company Limited to open at HK$1.36, and during the day (based on 14 day Average True Range), to move between HK$1.22 and HK$1.42, which gives a possible trading interval of +/-HK$0.0976 (+/-7.39%) up or down from last closing price. If Wheelock and Company Limited takes out the full calculated possible swing range there will be an estimated 14.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$1.41 (6.82%) than the support at HK$1.22 (7.58%), 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 Wheelock and Company Limited stock A Buy?

The Wheelock and Company Limited stock holds several negative signals and despite the positive trend, we believe Wheelock and Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -2.324 Sell Candidate Downgraded

Predicted Opening Price for Wheelock and Company Limited of Friday, June 21, 2024

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