Zhejiang Weixing Industrial Development Stock Forecast
Zhejiang Weixing Industrial Development stock price ended at ¥12.27 on Friday, after gaining 2.94%.
(Updated on May 24, 2024)
The Zhejiang Weixing Industrial Development stock price gained 2.94% on the last trading day (Friday, 24th May 2024), rising from ¥11.92 to ¥12.27. During the last trading day the stock fluctuated 5.55% from a day low at ¥11.89 to a day high of ¥12.55. The price has fallen in 6 of the last 10 days but is still up by 1.83% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 9 million shares were bought and sold for approximately ¥104.38 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.44% during the next 3 months and, with a 90% probability hold a price between ¥14.27 and ¥16.05 at the end of this 3-month period.
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002003.SZ Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -4.29%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Zhejiang Weixing Industrial Development 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 ¥12.26 and ¥11.78. A breakdown below any of these levels will issue sell signals. 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 Zhejiang Weixing Industrial Development stock
Zhejiang Weixing Industrial Development finds support from accumulated volume at ¥11.79 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 ¥0.660 (5.55%) between high and low. For the last week, the stock has had daily average volatility of 4.60%.
Our recommended stop-loss: ¥11.72 (-4.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (002003.SZ) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Zhejiang Weixing Industrial Development to open at ¥12.24, and during the day (based on 14 day Average True Range), to move between ¥11.72 and ¥12.82, which gives a possible trading interval of +/-¥0.553 (+/-4.51%) up or down from last closing price. If Zhejiang Weixing Industrial Development takes out the full calculated possible swing range there will be an estimated 9.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥12.47 (1.63%) than the support at ¥11.79 (3.91%), 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 Zhejiang Weixing Industrial Development 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 Zhejiang Weixing Industrial Development stock to perform well in the short-term.
Current score: 4.162 Buy Candidate Unchanged
Predicted Opening Price for Zhejiang Weixing Industrial Development of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ¥12.24 ( 0.272%) | ¥12.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002003.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.90 | 5.11 % | |
| R2 | 12.64 | 3.05 % | ||
| R1 | 12.49 | 1.78 % | ||
| Current price: | 12.27 | |||
| Support | S1 | 11.98 | -2.33 % | |
| S2 | 11.83 | -3.60 % | ||
| S3 | 11.58 | -5.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.82 | 4.48 % | |
| R2 | 12.50 | 1.87 % | ||
| R1 | 12.47 | 1.63 % | ||
| Current price | 12.27 | |||
| Support | S1 | 11.79 | -3.91% | |
| S2 | 10.83 | -11.74% | ||
| S3 | 10.50 | -14.43% |
002003 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 23, 2024 | ¥0.450 | 3.78% |
| 2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | ¥0.350 | 4.04% |
| 3 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.500 | 4.87% |
| 4 | May 26, 2021 | May 26, 2021 | May 26, 2021 | ¥0.308 | 5.64% |
| 5 | May 29, 2020 | May 29, 2020 | May 29, 2020 | ¥0.308 | 7.73% |
FAQ
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