West China Cement Limited Stock Forecast

High volatility in West China Cement Limited stock price on Monday which ended trading at HK$1.28
(Updated on May 06, 2024)

2233.HK Signals & Forecast

The West China Cement 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$1.18 and HK$1.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 28.00%. 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. The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for West China Cement Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$1.14 and HK$1.04. 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, West China Cement Limited finds support just below today's level at HK$1.14. If this is broken, then the next support from accumulated volume will be at HK$1.04 and HK$1.03.

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$0.120 between high and low, or 10.26%. For the last week, the stock has had daily average volatility of 5.85%.

Our recommended stop-loss: HK$1.23 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (2233.HK) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect West China Cement Limited to open at HK$1.25, and during the day (based on 14 day Average True Range), to move between HK$1.21 and HK$1.35, which gives a possible trading interval of +/-HK$0.0663 (+/-5.18%) up or down from last closing price. If West China Cement Limited takes out the full calculated possible swing range there will be an estimated 10.36% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$1.14, some HK$0.140 (10.94%) from the current price of HK$1.28, our system finds the risk reward attractive.

Is West China Cement Limited stock A Buy?

West China Cement Limited 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for West China Cement Limited of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.