Weimob Inc. Stock Forecast
Evaluation of Weimob Inc. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Weimob Inc. stock price fell by -3.33% on the last day (Friday, 17th May 2024) from HK$1.80 to HK$1.74. During the last trading day the stock fluctuated 7.02% from a day low at HK$1.71 to a day high of HK$1.83. The price has risen in 7 of the last 10 days and is up by 9.43% over the past 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 -2 million shares and in total, 93 million shares were bought and sold for approximately HK$162.65 million.
The stock lies the upper part of a very wide and falling 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$1.79 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -29.85% during the next 3 months and, with a 90% probability hold a price between HK$0.623 and HK$1.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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2013.HK Signals & Forecast
The Weimob Inc. 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$1.70 and HK$1.53. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -3.33%. Further fall is indicated until a new bottom pivot has been found. 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 Weimob Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.59 and HK$1.58. 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, Weimob Inc. finds support just below today's level at HK$1.59. If this is broken, then the next support from accumulated volume will be at HK$1.58 and HK$1.44.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.120 between high and low, or 7.02%. For the last week, the stock has had daily average volatility of 7.07%.
Our recommended stop-loss: HK$1.66 (-4.81%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (2013.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Weimob Inc. to open at HK$1.76, and during the day (based on 14 day Average True Range), to move between HK$1.61 and HK$1.87, which gives a possible trading interval of +/-HK$0.129 (+/-7.44%) up or down from last closing price. If Weimob Inc. takes out the full calculated possible swing range there will be an estimated 14.88% 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$1.77 (1.72%) than the support at HK$1.59 (8.62%), 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 Weimob Inc. stock A Buy?
Weimob Inc. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.945 Hold/Accumulate Downgraded
Predicted Opening Price for Weimob Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$1.76 ( 1.15%) | HK$1.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2013.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.88 | 8.05 % | |
| R2 | 1.83 | 5.41 % | ||
| R1 | 1.81 | 3.78 % | ||
| Current price: | 1.74 | |||
| Support | S1 | 1.71 | -1.49 % | |
| S2 | 1.69 | -3.11 % | ||
| S3 | 1.64 | -5.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.80 | 3.45 % | |
| R2 | 1.78 | 2.30 % | ||
| R1 | 1.77 | 1.72 % | ||
| Current price | 1.74 | |||
| Support | S1 | 1.59 | -8.62% | |
| S2 | 1.58 | -9.20% | ||
| S3 | 1.44 | -17.24% |
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