Shenzhen Weiguang Biologcl Prdcts Co Ltd Stock Forecast
Shenzhen Weiguang Biologcl Prdcts Co Ltd stock price up more than 5.52% on Tuesday
(Updated on Apr 30, 2024)
The Shenzhen Weiguang Biologcl Prdcts Co Ltd stock price gained 5.52% on the last trading day (Tuesday, 30th Apr 2024), rising from ¥28.46 to ¥30.03. During the last trading day the stock fluctuated 7.25% from a day low at ¥28.12 to a day high of ¥30.16. The price has risen in 8 of the last 10 days and is up by 11.22% 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, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ¥108.24 million.
The stock lies in the upper part of a wide and weak rising 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 ¥30.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.70% during the next 3 months and, with a 90% probability hold a price between ¥26.93 and ¥32.91 at the end of this 3-month period.
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002880.SZ Signals & Forecast
Mostly positive signals in the chart today. 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 ¥29.03 and ¥28.46. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.22%. 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 ¥28.46 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 ¥28.46. 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 ¥2.04 (7.25%) between high and low. For the last week, the stock has had daily average volatility of 5.84%.
Our recommended stop-loss: ¥28.93 (-3.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (002880.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenzhen Weiguang Biologcl Prdcts Co Ltd to open at ¥29.44, and during the day (based on 14 day Average True Range), to move between ¥28.80 and ¥31.26, which gives a possible trading interval of +/-¥1.23 (+/-4.10%) 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 8.21% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥28.46, some ¥1.57 (5.23%) from the current price of ¥30.03, our system finds the risk reward attractive.
Is Shenzhen Weiguang Biologcl Prdcts 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 Shenzhen Weiguang Biologcl Prdcts Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.774 Buy Candidate Upgraded
Predicted Opening Price for Shenzhen Weiguang Biologcl Prdcts Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥29.44 ( 1.98%) | ¥30.03 |
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 | 31.48 | 4.82 % | |
| R2 | 30.70 | 2.22 % | ||
| R1 | 30.22 | 0.619 % | ||
| Current price: | 30.03 | |||
| Support | S1 | 28.66 | -4.57 % | |
| S2 | 28.18 | -6.17 % | ||
| S3 | 27.40 | -8.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 30.03 | |||
| Support | S1 | 28.46 | -5.23% | |
| S2 | 25.33 | -15.65% | ||
| S3 | 22.93 | -23.64% |
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
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