Shenzhen Weiguang Biologcl Prdcts Co Ltd Stock Forecast
Green day on Thursday for Shenzhen Weiguang Biologcl Prdcts Co Ltd
(Updated on Apr 25, 2024)
The Shenzhen Weiguang Biologcl Prdcts Co Ltd stock price gained 1.59% on the last trading day (Thursday, 25th Apr 2024), rising from ¥29.02 to ¥29.48. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.46% from a day low at ¥27.70 to a day high of ¥29.49. The price has risen in 8 of the last 10 days and is up by 5.4% 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, 346 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ¥40.59 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.57% during the next 3 months and, with a 90% probability hold a price between ¥25.29 and ¥33.51 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.
002880.SZ Signals & Forecast
The Shenzhen Weiguang Biologcl Prdcts Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥28.44 and ¥28.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 28.57%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shenzhen Weiguang Biologcl Prdcts Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥27.17 and ¥25.33. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shenzhen Weiguang Biologcl Prdcts Co Ltd finds support just below today's level at ¥27.17. If this is broken, then the next support from accumulated volume will be at ¥25.33 and ¥22.93.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥1.79 (6.46%) between high and low. For the last week, the stock has had daily average volatility of 4.57%.
Since the Shenzhen Weiguang Biologcl Prdcts Co Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ¥28.33 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (002880.SZ) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Shenzhen Weiguang Biologcl Prdcts Co Ltd to open at ¥28.89, and during the day (based on 14 day Average True Range), to move between ¥28.38 and ¥30.58, which gives a possible trading interval of +/-¥1.10 (+/-3.72%) up or down from last closing price. If Shenzhen Weiguang Biologcl Prdcts Co Ltd takes out the full calculated possible swing range there will be an estimated 7.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥29.52 (0.14%) than the support at ¥27.17 (7.84%), 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 Shenzhen Weiguang Biologcl Prdcts Co Ltd stock A Buy?
Shenzhen Weiguang Biologcl Prdcts Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.719 Hold/Accumulate Unchanged
Predicted Opening Price for Shenzhen Weiguang Biologcl Prdcts Co Ltd of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ¥28.89 ( 2.00%) | ¥29.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002880.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.68 | 4.07 % | |
| R2 | 30.00 | 1.75 % | ||
| R1 | 29.57 | 0.318 % | ||
| Current price: | 29.48 | |||
| Support | S1 | 28.21 | -4.32 % | |
| S2 | 27.78 | -5.75 % | ||
| S3 | 27.10 | -8.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 30.64 | 3.93 % | ||
| R1 | 29.52 | 0.136 % | ||
| Current price | 29.48 | |||
| Support | S1 | 27.17 | -7.84% | |
| S2 | 25.33 | -14.08% | ||
| S3 | 22.93 | -22.22% |
002880 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 31, 2023 | Oct 31, 2023 | Oct 31, 2023 | ¥0.200 | 0.571% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | ¥0.200 | 0.772% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | ¥0.179 | 0.490% |
| 4 | Apr 29, 2020 | Apr 29, 2020 | Apr 29, 2020 | ¥0.152 | 0.471% |
| 5 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | ¥0.143 | 0.696% |
FAQ
Click here for our free guide on how to buy Shenzhen Weiguang Biologcl Prdcts Co Ltd Stock.
