Anhui Wantong Technology Co Ltd Stock Forecast
High volatility in Anhui Wantong Technology Co Ltd stock price on Tuesday which ended trading at ¥7.13
(Updated on Jun 18, 2024)
The Anhui Wantong Technology Co Ltd stock price gained 7.54% on the last trading day (Tuesday, 18th Jun 2024), rising from ¥6.63 to ¥7.13. It has now gained 3 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 14.62% from a day low at ¥6.36 to a day high of ¥7.29. The price has risen in 6 of the last 10 days and is up by 8.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 million more shares were traded than the day before. In total, 31 million shares were bought and sold for approximately ¥224.35 million.
The stock lies the upper part of a very wide and falling 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 ¥7.16 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -13.94% during the next 3 months and, with a 90% probability hold a price between ¥4.65 and ¥6.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002331.SZ Signals & Forecast
The Anhui Wantong Technology Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥6.49 and ¥6.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 17.85%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Anhui Wantong Technology Co Ltd stock
Anhui Wantong Technology Co Ltd finds support from accumulated volume at ¥6.90 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 ¥0.93 between high and low, or 14.62%. For the last week, the stock has had daily average volatility of 7.60%.
Our recommended stop-loss: ¥6.85 (-3.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (002331.SZ) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Anhui Wantong Technology Co Ltd to open at ¥6.93, and during the day (based on 14 day Average True Range), to move between ¥6.65 and ¥7.61, which gives a possible trading interval of +/-¥0.479 (+/-6.72%) up or down from last closing price. If Anhui Wantong Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 13.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥6.90 (3.23%) than the resistance at ¥7.60 (6.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Anhui Wantong Technology Co Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.789 Buy Candidate Upgraded
Predicted Opening Price for Anhui Wantong Technology Co Ltd of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ¥6.93 ( 2.85%) | ¥7.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002331.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.86 | 10.19% |
| R2 | 7.50 | 5.21% |
| R1 | 7.28 | 2.13% |
| Price | 7.13 | |
| S1 | 6.57 | -7.83% |
| S2 | 6.35 | -10.91% |
| S3 | 6.00 | -15.90% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.18 | 14.73% |
| R2 | 7.83 | 9.82% |
| R1 | 7.60 | 6.59% |
| Price | 7.13 | |
| S1 | 6.90 | -3.23% |
| S2 | 6.86 | -3.79% |
| S3 | 6.59 | -7.57% |
002331 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2020 | Jul 31, 2020 | Jul 31, 2020 | ¥0.0700 | 0.631% |
| 2 | Jun 25, 2019 | Jun 25, 2019 | Jun 25, 2019 | ¥0.0300 | 0.293% |
| 3 | Apr 14, 2017 | Apr 14, 2017 | Apr 14, 2017 | ¥0.0500 | 0.332% |
| 4 | May 12, 2016 | May 12, 2016 | May 12, 2016 | ¥0.0417 | 0.212% |
| 5 | Mar 26, 2015 | Mar 26, 2015 | Mar 26, 2015 | ¥0.0347 | 0.273% |
FAQ
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