Wuhan Sante Cableways Group Co Ltd Stock Forecast
Wuhan Sante Cableways Group Co Ltd stock price ended at ¥13.83 on Friday, after gaining 0.363%.
(Updated on May 31, 2024)
The Wuhan Sante Cableways Group Co Ltd stock price gained 0.363% on the last trading day (Friday, 31st May 2024), rising from ¥13.78 to ¥13.83. During the last trading day the stock fluctuated 1.24% from a day low at ¥13.74 to a day high of ¥13.91. The price has been going up and down for this period, and there has been a -7.37% loss for the last 2 weeks. Volume fell on the last day by -329 thousand shares and in total, 2 million shares were bought and sold for approximately ¥28.95 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 lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥13.50 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.95% during the next 3 months and, with a 90% probability hold a price between ¥13.11 and ¥16.58 at the end of this 3-month period.
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002159.SZ Signals & Forecast
There are mixed signals in the stock today. The Wuhan Sante Cableways Group 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 ¥15.11. On a fall, the stock will find some support from the short-term average at ¥13.80. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 2.14%. Further rise is indicated until a new top pivot has been found. 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 Wuhan Sante Cableways Group Co Ltd stock
Wuhan Sante Cableways Group Co Ltd finds support from accumulated volume at ¥13.81 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 ¥0.170 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 4.13%.
Wuhan Sante Cableways Group Co Ltd is oversold on RSI14 (29). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002159.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Wuhan Sante Cableways Group Co Ltd to open at ¥13.83, and during the day (based on 14 day Average True Range), to move between ¥13.07 and ¥14.59, which gives a possible trading interval of +/-¥0.763 (+/-5.52%) up or down from last closing price. If Wuhan Sante Cableways Group Co Ltd takes out the full calculated possible swing range there will be an estimated 11.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥13.81 (0.14%) than the resistance at ¥14.75 (6.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wuhan Sante Cableways Group Co Ltd stock A Buy?
Wuhan Sante Cableways Group 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: -3.109 Sell Candidate Unchanged
Predicted Opening Price for Wuhan Sante Cableways Group Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥13.83 ( 0.0241%) | ¥13.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002159.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.00 | 1.21 % | |
| R2 | 13.93 | 0.736 % | ||
| R1 | 13.89 | 0.445 % | ||
| Current price: | 13.83 | |||
| Support | S1 | 13.76 | -0.494 % | |
| S2 | 13.72 | -0.784 % | ||
| S3 | 13.66 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.13 | 16.63 % | |
| R2 | 15.15 | 9.54 % | ||
| R1 | 14.75 | 6.65 % | ||
| Current price | 13.83 | |||
| Support | S1 | 13.81 | -0.145% | |
| S2 | 13.79 | -0.289% | ||
| S3 | 13.67 | -1.16% |
002159 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2014 | Apr 18, 2014 | Apr 18, 2014 | ¥0.0500 | 0.281% |
| 2 | Jun 07, 2013 | Jun 07, 2013 | Jun 07, 2013 | ¥0.0600 | 0.362% |
| 3 | Jun 17, 2011 | Jun 17, 2011 | Jun 17, 2011 | ¥0.0500 | 0.391% |
| 4 | May 07, 2010 | May 07, 2010 | May 07, 2010 | ¥0.0500 | 0.294% |
| 5 | May 16, 2008 | May 16, 2008 | May 16, 2008 | ¥0.0133 | 0.143% |
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