Wuxi Huadong Heavy Machinery Co Ltd Stock Forecast
Wuxi Huadong Heavy Machinery Co Ltd stock price ended at ¥3.16 on Thursday, after gaining 0.96%.
(Updated on Mar 28, 2024)
The Wuxi Huadong Heavy Machinery Co Ltd stock price gained 0.96% on the last trading day (Thursday, 28th Mar 2024), rising from ¥3.13 to ¥3.16. During the last trading day the stock fluctuated 7.72% from a day low at ¥3.11 to a day high of ¥3.35. The price has been going up and down for this period, and there has been a -9.46% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 25 million shares were bought and sold for approximately ¥78.85 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 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 Wuxi Huadong Heavy Machinery Co Ltd stock with a 90% probability to be traded between ¥2.17 and ¥3.54 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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002685.SZ Signals & Forecast
The Wuxi Huadong Heavy Machinery Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥3.34. On a fall, the stock will find some support from the long-term average at approximately ¥3.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -10.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Wuxi Huadong Heavy Machinery Co Ltd stock
Wuxi Huadong Heavy Machinery Co Ltd finds support from accumulated volume at ¥3.13 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 ¥0.240 between high and low, or 7.72%. For the last week, the stock has had daily average volatility of 5.59%.
Our recommended stop-loss: ¥2.97 (-5.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (002685.SZ) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Wuxi Huadong Heavy Machinery Co Ltd to open at ¥3.21, and during the day (based on 14 day Average True Range), to move between ¥2.96 and ¥3.36, which gives a possible trading interval of +/-¥0.199 (+/-6.31%) up or down from last closing price. If Wuxi Huadong Heavy Machinery Co Ltd takes out the full calculated possible swing range there will be an estimated 12.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥3.13 (0.95%) than the resistance at ¥3.35 (6.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wuxi Huadong Heavy Machinery Co Ltd stock A Buy?
Wuxi Huadong Heavy Machinery Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.052 Hold/Accumulate Unchanged
Predicted Opening Price for Wuxi Huadong Heavy Machinery Co Ltd of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
¥3.21 ( 1.48%) | ¥3.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002685.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.45 | 9.07 % | |
R2 | 3.35 | 6.17 % | ||
R1 | 3.30 | 4.38 % | ||
Current price: | 3.16 | |||
Support | S1 | 3.11 | -1.42 % | |
S2 | 3.06 | -3.22 % | ||
S3 | 2.97 | -6.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.49 | 10.44 % | |
R2 | 3.45 | 9.18 % | ||
R1 | 3.35 | 6.01 % | ||
Current price | 3.16 | |||
Support | S1 | 3.13 | -0.95% | |
S2 | 3.03 | -4.11% | ||
S3 | 2.71 | -14.24% |
002685 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | ¥0.0500 | 0.83% |
2 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | ¥0.0500 | 0.90% |
3 | Jun 14, 2018 | Jun 14, 2018 | Jun 14, 2018 | ¥0.0300 | 0.350% |
4 | Apr 26, 2017 | Apr 26, 2017 | Apr 26, 2017 | ¥0.0250 | 0.255% |
5 | May 30, 2016 | May 30, 2016 | May 30, 2016 | ¥0.0250 | 0.283% |
FAQ
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