Western Metal Materials Co., Ltd. Stock Forecast
Western Metal Materials Co., Ltd. stock price down 0.394% on Friday
(Updated on May 10, 2024)
The Western Metal Materials Co., Ltd. stock price fell by -0.394% on the last day (Friday, 10th May 2024) from ¥15.24 to ¥15.18. During the last trading day the stock fluctuated 4.80% from a day low at ¥14.79 to a day high of ¥15.50. The price has risen in 6 of the last 10 days and is up by 6.6% over the past 2 weeks. Volume has increased on the last day by 762 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately ¥101.52 million.
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 13.56% during the next 3 months and, with a 90% probability hold a price between ¥15.96 and ¥18.83 at the end of this 3-month period.
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002149.SZ Signals & Forecast
The Western Metal Materials 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 ¥14.93 and ¥14.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 12.36%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Western Metal Materials Co., Ltd. stock
Western Metal Materials Co., Ltd. finds support from accumulated volume at ¥15.09 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 ¥0.710 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: ¥14.66 (-3.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (002149.SZ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Western Metal Materials Co., Ltd. to open at ¥15.16, and during the day (based on 14 day Average True Range), to move between ¥14.47 and ¥15.89, which gives a possible trading interval of +/-¥0.708 (+/-4.67%) up or down from last closing price. If Western Metal Materials Co., Ltd. takes out the full calculated possible swing range there will be an estimated 9.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥15.09 (0.59%) than the resistance at ¥15.50 (2.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Western Metal Materials 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 Western Metal Materials Co., Ltd. stock to perform well in the short-term.
Current score: 1.465 Buy Candidate Unchanged
Predicted Opening Price for Western Metal Materials Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ¥15.16 ( 0.154%) | ¥15.18 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002149.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.87 | 4.52 % | |
| R2 | 15.60 | 2.74 % | ||
| R1 | 15.43 | 1.63 % | ||
| Current price: | 15.18 | |||
| Support | S1 | 14.89 | -1.94 % | |
| S2 | 14.72 | -3.04 % | ||
| S3 | 14.45 | -4.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.66 | 3.16 % | |
| R2 | 15.53 | 2.31 % | ||
| R1 | 15.50 | 2.11 % | ||
| Current price | 15.18 | |||
| Support | S1 | 15.09 | -0.593% | |
| S2 | 14.24 | -6.19% | ||
| S3 | 13.41 | -11.66% |
002149 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | ¥0.200 | 1.29% |
| 2 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | ¥0.100 | 0.728% |
| 3 | Jun 18, 2021 | Jun 18, 2021 | Jun 18, 2021 | ¥0.150 | 1.02% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.100 | 1.30% |
| 5 | Jun 20, 2019 | Jun 20, 2019 | Jun 20, 2019 | ¥0.100 | 1.10% |
FAQ
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