14-day Premium Trial Subscription Try For FreeTry Free

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 20 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of 2338.HK
Powered by GPT-4o
Upgraded!
Stock Analysis
Risk Assessment
Trading Strategy

Green day on Friday for Weichai Power Co., Ltd. stock after gaining 1.27%
(Updated on Jun 14, 2024)

Sell candidate since Jun 11, 2024 Gain 0.70% PDF

The Weichai Power Co., Ltd. stock price gained 1.27% on the last trading day (Friday, 14th Jun 2024), rising from HK$14.12 to HK$14.30. During the last trading day the stock fluctuated 5.30% from a day low at HK$13.96 to a day high of HK$14.70. The price has risen in 5 of the last 10 days but is still down by -1.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately HK$109.79 million.

The stock lies in the middle of a 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 -8.60% during the next 3 months and, with a 90% probability hold a price between HK$12.56 and HK$14.82 at the end of this 3-month period.

Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.

2338.HK Signals & Forecast

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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Weichai Power Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$14.32 and HK$15.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -3.64%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Weichai Power Co., Ltd. stock

Weichai Power Co., Ltd. finds support from accumulated volume at HK$14.22 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$0.740 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 4.23%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (2338.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Weichai Power Co., Ltd. to open at HK$14.32, and during the day (based on 14 day Average True Range), to move between HK$13.77 and HK$14.83, which gives a possible trading interval of +/-HK$0.534 (+/-3.73%) up or down from last closing price. If Weichai Power Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$14.22 (0.56%) than the resistance at HK$15.16 (6.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Weichai Power Co., Ltd. stock A Buy?

Weichai Power Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.444 Sell Candidate Unchanged

Predicted Opening Price for Weichai Power Co., Ltd. of Monday, June 17, 2024

Fair opening price June 17, 2024 Current price
HK$14.32 ( 0.140%) HK$14.30

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

Trading levels for 2338.HK

Fibonacci Support & Resistance Levels

Level Price
R3 15.06 5.31%
R2 14.78 3.34%
R1 14.60 2.12%
Price 14.30
S1 14.04 -1.84%
S2 13.86 -3.06%
S3 13.58 -5.03%

Accumulated Volume Support & Resistance Levels

Level Price
R3 16.40 14.69%
R2 16.24 13.57%
R1 15.16 6.01%
Price 14.30
S1 14.22 -0.559%
S2 14.20 -0.699%
S3 13.98 -2.24%

2338 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 May 31, 2024 May 31, 2024 Jun 28, 2024 HK$0.323 2.25%
2 Sep 28, 2023 Sep 28, 2023 Sep 28, 2023 HK$0.247 2.34%
3 Jul 28, 2023 Jul 28, 2023 Jul 28, 2023 HK$0.172 1.52%
4 Sep 22, 2022 Sep 22, 2022 Sep 22, 2022 HK$0.110 1.27%
5 Jul 28, 2022 Jul 28, 2022 Jul 28, 2022 HK$0.217 1.91%

FAQ

What is the symbol for Weichai Power Co., Ltd. Stock and on which exchange is it traded?
The symbol for Weichai Power Co., Ltd. is 2338.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell Weichai Power Co., Ltd. Stock?
Weichai Power Co., Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy Weichai Power Co., Ltd. Stock?
Weichai Power Co., Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Weichai Power Co., Ltd. Stock.

What's the current price of Weichai Power Co., Ltd. Stock?
As of the end of day on the Jun 14, 2024, the price of an Weichai Power Co., Ltd. (2338.HK) share was HK$14.30.

What is the 52-week high and low for Weichai Power Co., Ltd. Stock?
The 52-week high for Weichai Power Co., Ltd. Stock is HK$17.50 and the 52-week low is HK$9.36.

What is the market capitalization of Weichai Power Co., Ltd. Stock?
As of the Jun 14, 2024, the market capitalization of Weichai Power Co., Ltd. is 144.849B.

When is the next earnings date for Weichai Power Co., Ltd.?
The upcoming earnings date for Weichai Power Co., Ltd. is Aug 28, 2024.
Click to get the best stock tips daily for free!