WH Group Limited Stock Forecast
Green day on Wednesday for WH Group Limited stock after gaining 0.517%
(Updated on Apr 24, 2024)
The WH Group Limited stock price gained 0.517% on the last trading day (Wednesday, 24th Apr 2024), rising from HK$5.80 to HK$5.83. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.78% from a day low at HK$5.76 to a day high of HK$5.92. The price has been going up and down for this period, and there has been a 6% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 million more shares were traded than the day before. In total, 56 million shares were bought and sold for approximately HK$327.77 million.
The stock lies in the upper part of a strong 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 HK$5.88 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.28% during the next 3 months and, with a 90% probability hold a price between HK$6.59 and HK$7.19 at the end of this 3-month period.
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0288.HK Signals & Forecast
Mostly positive signals in the chart today. The WH Group Limited 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 HK$5.53 and HK$5.27. 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 8.77%. 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 WH Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$5.35 and HK$5.27. 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, WH Group Limited finds support just below today's level at HK$5.35. If this is broken, then the next support from accumulated volume will be at HK$5.27 and HK$4.59.
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 HK$0.160 between high and low, or 2.78%. For the last week, the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: HK$5.62 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (0288.HK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect WH Group Limited to open at HK$5.84, and during the day (based on 14 day Average True Range), to move between HK$5.65 and HK$6.01, which gives a possible trading interval of +/-HK$0.177 (+/-3.03%) up or down from last closing price. If WH Group Limited takes out the full calculated possible swing range there will be an estimated 6.07% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$5.35, some HK$0.480 (8.23%) from the current price of HK$5.83, our system finds the risk reward attractive.
Is WH Group Limited stock A Buy?
WH Group Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.572 Strong Buy Candidate Unchanged
Predicted Opening Price for WH Group Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| HK$5.84 ( 0.114%) | HK$5.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0288.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.00 | 2.86 % | |
| R2 | 5.94 | 1.81 % | ||
| R1 | 5.90 | 1.16 % | ||
| Current price: | 5.83 | |||
| Support | S1 | 5.78 | -0.93 % | |
| S2 | 5.74 | -1.58 % | ||
| S3 | 5.68 | -2.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.83 | |||
| Support | S1 | 5.35 | -8.23% | |
| S2 | 5.27 | -9.61% | ||
| S3 | 4.59 | -21.27% |
0288 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 30, 2024 | HK$0.250 | 4.30% |
| 2 | Aug 28, 2023 | Aug 28, 2023 | Aug 28, 2023 | HK$0.0500 | 1.24% |
| 3 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | HK$0.250 | 6.10% |
| 4 | Aug 29, 2022 | Aug 29, 2022 | Aug 29, 2022 | HK$0.0500 | 0.92% |
| 5 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.140 | 2.34% |
FAQ
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