Hangzhou Weiguang Electronic Co Ltd Stock Forecast
Hangzhou Weiguang Electronic Co Ltd stock price ended at ¥22.41 on Friday, after losing 0.400%.
(Updated on May 17, 2024)
The Hangzhou Weiguang Electronic Co Ltd stock price fell by -0.400% on the last day (Friday, 17th May 2024) from ¥22.50 to ¥22.41. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.06% from a day low at ¥22.19 to a day high of ¥23.09. The price has been going up and down for this period, and there has been a 1.13% 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 -571 thousand shares and in total, 850 thousand shares were bought and sold for approximately ¥19.05 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥21.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.19% during the next 3 months and, with a 90% probability hold a price between ¥24.43 and ¥29.22 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
002801.SZ Signals & Forecast
The Hangzhou Weiguang Electronic 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 ¥22.95. On a fall, the stock will find some support from the long-term average at approximately ¥22.28. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Hangzhou Weiguang Electronic Co Ltd stock
Hangzhou Weiguang Electronic Co Ltd finds support from accumulated volume at ¥22.28 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 ¥0.90 between high and low, or 4.06%. For the last week, the stock has had daily average volatility of 3.15%.
Our recommended stop-loss: ¥21.44 (-4.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (002801.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hangzhou Weiguang Electronic Co Ltd to open at ¥22.56, and during the day (based on 14 day Average True Range), to move between ¥21.22 and ¥23.60, which gives a possible trading interval of +/-¥1.19 (+/-5.30%) up or down from last closing price. If Hangzhou Weiguang Electronic Co Ltd takes out the full calculated possible swing range there will be an estimated 10.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥22.28 (0.58%) than the resistance at ¥23.04 (2.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hangzhou Weiguang Electronic Co Ltd will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Hangzhou Weiguang Electronic Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.08% in the first trading day after earnings release.
Is Hangzhou Weiguang Electronic Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hangzhou Weiguang Electronic Co Ltd stock to perform well in the short-term.
Current score: 3.840 Buy Candidate Unchanged
Predicted Opening Price for Hangzhou Weiguang Electronic Co Ltd of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
¥22.56 ( 0.684%) | ¥22.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002801.SZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.46 | 4.70 % | |
R2 | 23.12 | 3.17 % | ||
R1 | 22.91 | 2.22 % | ||
Current price: | 22.41 | |||
Support | S1 | 22.22 | -0.85 % | |
S2 | 22.01 | -1.80 % | ||
S3 | 21.66 | -3.33 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.39 | 8.84 % | |
R2 | 23.40 | 4.42 % | ||
R1 | 23.04 | 2.81 % | ||
Current price | 22.41 | |||
Support | S1 | 22.28 | -0.580% | |
S2 | 21.70 | -3.17% | ||
S3 | 21.33 | -4.82% |
002801 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 17, 2023 | May 17, 2023 | May 17, 2023 | ¥0.500 | 2.15% |
2 | Apr 22, 2022 | Apr 22, 2022 | Apr 22, 2022 | ¥0.500 | 2.26% |
3 | Oct 26, 2021 | Oct 26, 2021 | Oct 26, 2021 | ¥0.200 | 1.18% |
4 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | ¥0.200 | 0.775% |
5 | Jul 03, 2020 | Jul 03, 2020 | Jul 03, 2020 | ¥0.200 | 0.94% |
FAQ
Click here for our free guide on how to buy Hangzhou Weiguang Electronic Co Ltd Stock.