WuXi Biologics (Cayman) Inc. Stock Forecast
Stronger technical forecast for WuXi Biologics (Cayman) Inc. stock price after Thursday trading.
(Updated on Mar 28, 2024)
The WuXi Biologics (Cayman) Inc. stock price gained 3.92% on the last trading day (Thursday, 28th Mar 2024), rising from HK$13.76 to HK$14.30. During the last trading day the stock fluctuated 8.70% from a day low at HK$13.80 to a day high of HK$15.00. The price has risen in 5 of the last 10 days but is still down by -11.07% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 24 million more shares were traded than the day before. In total, 83 million shares were bought and sold for approximately HK$1.19 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -49.35% during the next 3 months and, with a 90% probability hold a price between HK$3.61 and HK$8.77 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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2269.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 9.66%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The WuXi Biologics (Cayman) Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$16.95. On a fall, the stock will find some support from the short-term average at HK$13.83. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for WuXi Biologics (Cayman) Inc. stock
WuXi Biologics (Cayman) Inc. finds support from accumulated volume at HK$14.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$1.20 between high and low, or 8.70%. For the last week, the stock has had daily average volatility of 7.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2269.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect WuXi Biologics (Cayman) Inc. to open at HK$14.37, and during the day (based on 14 day Average True Range), to move between HK$12.89 and HK$15.71, which gives a possible trading interval of +/-HK$1.41 (+/-9.87%) up or down from last closing price. If WuXi Biologics (Cayman) Inc. takes out the full calculated possible swing range there will be an estimated 19.74% 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$14.44 (0.98%) than the support at HK$14.02 (1.96%), 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 WuXi Biologics (Cayman) Inc. stock A Buy?
WuXi Biologics (Cayman) Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.086 Sell Candidate Upgraded
Predicted Opening Price for WuXi Biologics (Cayman) Inc. of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$14.37 ( 0.466%) | HK$14.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2269.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.57 | 8.86 % | |
R2 | 15.11 | 5.65 % | ||
R1 | 14.83 | 3.67 % | ||
Current price: | 14.30 | |||
Support | S1 | 13.91 | -2.74 % | |
S2 | 13.63 | -4.72 % | ||
S3 | 13.17 | -7.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.08 | 19.44 % | |
R2 | 16.78 | 17.34 % | ||
R1 | 14.44 | 0.98 % | ||
Current price | 14.30 | |||
Support | S1 | 14.02 | -1.96% | |
S2 | 13.92 | -2.66% | ||
S3 | 13.04 | -8.81% |
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