Wangneng Environment Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Wangneng Environment Co Ltd stock price ended at ¥14.42 on Tuesday, after gaining 0.418%.
(Updated on Apr 30, 2024)
The Wangneng Environment Co Ltd stock price gained 0.418% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥14.36 to ¥14.42. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.17% from a day low at ¥13.91 to a day high of ¥14.49. The price has risen in 7 of the last 10 days and is up by 8.34% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 2 million shares were bought and sold for approximately ¥35.93 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 upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ¥14.74 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.82% during the next 3 months and, with a 90% probability hold a price between ¥13.09 and ¥15.16 at the end of this 3-month period.
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002034.SZ Signals & Forecast
Mostly positive signals in the chart today. The Wangneng Environment Co Ltd 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 ¥14.01 and ¥13.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 9.41%. 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. The stock had a Golden Star Signal on Wednesday, April 17, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, April 17, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Wangneng Environment Co Ltd stock
Wangneng Environment Co Ltd finds support from accumulated volume at ¥13.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.580 between high and low, or 4.17%. For the last week the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: ¥13.69 (-5.05%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (002034.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Wangneng Environment Co Ltd to open at ¥14.27, and during the day (based on 14 day Average True Range), to move between ¥13.99 and ¥14.85, which gives a possible trading interval of +/-¥0.429 (+/-2.97%) 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 5.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥14.52 (0.69%) than the support at ¥13.94 (3.33%), 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?
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 Wangneng Environment Co Ltd stock to perform well in the short-term.
Current score: 3.429 Buy Candidate Unchanged
Predicted Opening Price for Wangneng Environment Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥14.27 ( 1.02%) | ¥14.42 |
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 | 14.85 | 3.01 % | |
| R2 | 14.63 | 1.47 % | ||
| R1 | 14.49 | 0.519 % | ||
| Current price: | 14.42 | |||
| Support | S1 | 14.05 | -2.55 % | |
| S2 | 13.91 | -3.50 % | ||
| S3 | 13.69 | -5.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 14.54 | 0.83 % | ||
| R1 | 14.52 | 0.693 % | ||
| Current price | 14.42 | |||
| Support | S1 | 13.94 | -3.33% | |
| S2 | 13.77 | -4.51% | ||
| S3 | 13.18 | -8.60% |
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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