WH Group Limited Stock Forecast
Red day on Friday for WH Group Limited stock after losing 0.88%
(Updated on May 03, 2024)
The WH Group Limited stock price fell by -0.88% on the last day (Friday, 3rd May 2024) from HK$5.71 to HK$5.66. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.65% from a day low at HK$5.66 to a day high of HK$5.81. The price has fallen in 5 of the last 10 days but is still up by 4.62% over the past 2 weeks. Volume has increased on the last day by 7 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 25 million shares were bought and sold for approximately HK$142.72 million.
The stock lies in the middle of a strong 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 25.89% during the next 3 months and, with a 90% probability hold a price between HK$6.97 and HK$7.42 at the end of this 3-month period.
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0288.HK Signals & Forecast
The WH Group Limited 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 HK$5.77. On a fall, the stock will find some support from the long-term average at approximately HK$5.42. 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. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.92%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for WH Group Limited stock
WH Group Limited finds support from accumulated volume at HK$5.41 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 HK$0.150 between high and low, or 2.65%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: HK$5.44 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (0288.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect WH Group Limited to open at HK$5.71, and during the day (based on 14 day Average True Range), to move between HK$5.50 and HK$5.82, which gives a possible trading interval of +/-HK$0.160 (+/-2.83%) up or down from last closing price. If WH Group Limited takes out the full calculated possible swing range there will be an estimated 5.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$5.72 (1.06%) than the support at HK$5.41 (4.42%), 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 WH Group Limited 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 WH Group Limited stock to perform well in the short-term.
Current score: 2.324 Buy Candidate Unchanged
Predicted Opening Price for WH Group Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$5.71 ( 0.88%) | HK$5.66 |
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 | 5.86 | 3.53 % | |
| R2 | 5.80 | 2.52 % | ||
| R1 | 5.77 | 1.90 % | ||
| Current price: | 5.66 | |||
| Support | S1 | 5.65 | -0.129 % | |
| S2 | 5.62 | -0.754 % | ||
| S3 | 5.56 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.83 | 3.00 % | |
| R2 | 5.80 | 2.47 % | ||
| R1 | 5.72 | 1.06 % | ||
| Current price | 5.66 | |||
| Support | S1 | 5.41 | -4.42% | |
| S2 | 5.35 | -5.48% | ||
| S3 | 5.27 | -6.89% |
0288 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 30, 2024 | HK$0.250 | 4.42% |
| 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% |
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