Hanwang Technology Co.,Ltd. Stock Forecast
Hanwang Technology Co.,Ltd. stock price ended at ¥18.77 on Wednesday, after losing 3.20%.
(Updated on May 08, 2024)
The Hanwang Technology Co.,Ltd. stock price fell by -3.20% on the last day (Wednesday, 8th May 2024) from ¥19.39 to ¥18.77. During the last trading day the stock fluctuated 3.95% from a day low at ¥18.72 to a day high of ¥19.46. The price has risen in 7 of the last 10 days and is up by 8.31% over the past 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 -917 thousand shares and in total, 7 million shares were bought and sold for approximately ¥124.27 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.04% during the next 3 months and, with a 90% probability hold a price between ¥15.19 and ¥20.73 at the end of this 3-month period.
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002362.SZ Signals & Forecast
There are mixed signals in the stock today. The Hanwang Technology Co.,Ltd. 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 ¥19.12 and ¥19.95. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 13.69%. 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).
Support, Risk & Stop-loss for Hanwang Technology Co.,Ltd. stock
Hanwang Technology Co.,Ltd. finds support from accumulated volume at ¥18.30 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 ¥0.740 between high and low, or 3.95%. For the last week, the stock has had daily average volatility of 4.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002362.SZ) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hanwang Technology Co.,Ltd. to open at ¥18.98, and during the day (based on 14 day Average True Range), to move between ¥17.26 and ¥20.28, which gives a possible trading interval of +/-¥1.51 (+/-8.04%) up or down from last closing price. If Hanwang Technology Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 16.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥19.18 (2.18%) than the support at ¥18.30 (2.50%), 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 Hanwang Technology Co.,Ltd. stock A Buy?
Hanwang Technology 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: -2.018 Sell Candidate Unchanged
Predicted Opening Price for Hanwang Technology Co.,Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ¥18.98 ( 1.14%) | ¥18.77 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002362.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.72 | 5.08 % | |
| R2 | 19.44 | 3.57 % | ||
| R1 | 19.27 | 2.64 % | ||
| Current price: | 18.77 | |||
| Support | S1 | 18.70 | -0.369 % | |
| S2 | 18.53 | -1.30 % | ||
| S3 | 18.24 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.16 | 18.06 % | |
| R2 | 20.90 | 11.35 % | ||
| R1 | 19.18 | 2.18 % | ||
| Current price | 18.77 | |||
| Support | S1 | 18.30 | -2.50% | |
| S2 | 18.00 | -4.10% | ||
| S3 | 16.51 | -12.04% |
FAQ
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