Wangneng Environment Co Ltd Stock Forecast
Wangneng Environment Co Ltd stock price ended at ¥13.76 on Thursday, after losing 0.145%.
(Updated on Apr 18, 2024)
The Wangneng Environment Co Ltd stock price fell by -0.145% on the last day (Thursday, 18th Apr 2024) from ¥13.78 to ¥13.76. During the last trading day the stock fluctuated 2.27% from a day low at ¥13.65 to a day high of ¥13.96. The price has fallen in 6 of the last 10 days and is down by -0.29% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -278 thousand shares and in total, 2 million shares were bought and sold for approximately ¥25.24 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Wangneng Environment Co Ltd stock with a 90% probability to be traded between ¥11.95 and ¥14.21 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002034.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 Wangneng Environment Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥13.84. On a fall, the stock will find some support from the short-term average at ¥13.74. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, March 18, 2024, and so far it has fallen -5.36%. 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 Wangneng Environment Co Ltd stock
Wangneng Environment Co Ltd finds support from accumulated volume at ¥13.18 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 ¥0.310 (2.27%) between high and low. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002034.SZ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Wangneng Environment Co Ltd to open at ¥13.79, and during the day (based on 14 day Average True Range), to move between ¥13.31 and ¥14.21, which gives a possible trading interval of +/-¥0.453 (+/-3.29%) up or down from last closing price. If Wangneng Environment Co Ltd takes out the full calculated possible swing range there will be an estimated 6.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥13.77 (0.07%) than the support at ¥13.18 (4.22%), 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 Wangneng Environment Co Ltd stock A Buy?
Wangneng Environment Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.151 Sell Candidate Unchanged
Predicted Opening Price for Wangneng Environment Co Ltd of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ¥13.79 ( 0.218%) | ¥13.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002034.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.10 | 2.47 % | |
| R2 | 13.98 | 1.61 % | ||
| R1 | 13.91 | 1.08 % | ||
| Current price: | 13.76 | |||
| Support | S1 | 13.67 | -0.643 % | |
| S2 | 13.60 | -1.17 % | ||
| S3 | 13.48 | -2.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.94 | 1.31 % | |
| R2 | 13.78 | 0.145 % | ||
| R1 | 13.77 | 0.0727 % | ||
| Current price | 13.76 | |||
| Support | S1 | 13.18 | -4.22% | |
| S2 | 12.86 | -6.54% | ||
| S3 | 12.35 | -10.25% |
002034 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Nov 23, 2023 | ¥0.200 | 1.33% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | ¥0.500 | 3.11% |
| 3 | May 31, 2022 | May 31, 2022 | May 31, 2022 | ¥0.300 | 1.46% |
| 4 | May 31, 2021 | May 31, 2021 | May 31, 2021 | ¥0.500 | 2.84% |
| 5 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.100 | 0.513% |
FAQ
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