Westone Information Industry Inc. Stock Forecast
Big movements in Westone Information Industry Inc. stock price on Tuesday moving 12.50% between high and low
(Updated on Apr 30, 2024)
The Westone Information Industry Inc. stock price fell by -2.09% on the last day (Tuesday, 30th Apr 2024) from ¥18.20 to ¥17.82. During the last trading day the stock fluctuated 12.50% from a day low at ¥16.32 to a day high of ¥18.36. The price has been going up and down for this period, and there has been a 3.01% gain for the last 2 weeks. 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 -6 million shares and in total, 17 million shares were bought and sold for approximately ¥299.21 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Westone Information Industry Inc. stock with a 90% probability to be traded between ¥14.62 and ¥21.49 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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002268.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 Westone Information Industry Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥18.15 and ¥19.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -16.77%. 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 Westone Information Industry Inc. stock
Westone Information Industry Inc. finds support from accumulated volume at ¥17.58 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 ¥2.04 between high and low, or 12.50%. For the last week, the stock has had daily average volatility of 8.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002268.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Westone Information Industry Inc. to open at ¥17.50, and during the day (based on 14 day Average True Range), to move between ¥16.68 and ¥18.96, which gives a possible trading interval of +/-¥1.14 (+/-6.41%) up or down from last closing price. If Westone Information Industry Inc. takes out the full calculated possible swing range there will be an estimated 12.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥17.58 (1.35%) than the resistance at ¥18.68 (4.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Westone Information Industry Inc. stock A Buy?
Westone Information Industry Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.239 Sell Candidate Downgraded
Predicted Opening Price for Westone Information Industry Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥17.50 ( 1.80%) | ¥17.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002268.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.54 | 9.65 % | |
| R2 | 18.76 | 5.28 % | ||
| R1 | 18.28 | 2.58 % | ||
| Current price: | 17.82 | |||
| Support | S1 | 16.72 | -6.17 % | |
| S2 | 16.24 | -8.87 % | ||
| S3 | 15.46 | -13.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.43 | 9.03 % | |
| R2 | 18.73 | 5.11 % | ||
| R1 | 18.68 | 4.83 % | ||
| Current price | 17.82 | |||
| Support | S1 | 17.58 | -1.35% | |
| S2 | 17.51 | -1.74% | ||
| S3 | 14.53 | -18.46% |
002268 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | ¥0.0600 | 0.231% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | ¥0.0500 | 0.113% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | ¥0.0200 | 0.0775% |
| 4 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | ¥0.0190 | 0.0895% |
| 5 | Jul 11, 2019 | Jul 11, 2019 | Jul 11, 2019 | ¥0.0150 | 0.0662% |
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