Weichai Power Co., Ltd. Stock Forecast
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:
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
Weichai Power Co., Ltd. stock price ended at HK$13.88 on Thursday, after losing 3.48%.
(Updated on Jun 20, 2024)
The Weichai Power Co., Ltd. stock price fell by -3.48% on the last day (Thursday, 20th Jun 2024) from HK$14.38 to HK$13.88. During the last trading day the stock fluctuated 4.92% from a day low at HK$13.82 to a day high of HK$14.50. The price has risen in 6 of the last 10 days but is still down by -2.25% for this period. Volume has increased on the last day by 3 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, 7 million shares were bought and sold for approximately HK$102.40 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 -12.36% during the next 3 months and, with a 90% probability hold a price between HK$11.06 and HK$13.70 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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2338.HK Signals & Forecast
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. 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$14.21 and HK$15.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -19.30%. 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 Weichai Power Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.680 (4.92%) between high and low. For the last week, the stock has had daily average volatility of 3.98%.
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 Friday 21st
For the upcoming trading day on Friday, 21st we expect Weichai Power Co., Ltd. to open at HK$14.07, and during the day (based on 14 day Average True Range), to move between HK$13.35 and HK$14.41, which gives a possible trading interval of +/-HK$0.529 (+/-3.81%) 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 7.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$15.16, some HK$1.28 (9.22%) from the current price of HK$13.88, our system finds the risk reward not very attractive.
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: -4.382 Sell Candidate Unchanged
Predicted Opening Price for Weichai Power Co., Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$14.07 ( 1.34%) | HK$13.88 |
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 | 14.75 | 6.24% |
| R2 | 14.49 | 4.37% |
| R1 | 14.33 | 3.22% |
| Price | 13.88 | |
| S1 | 13.81 | -0.527% |
| S2 | 13.65 | -1.68% |
| S3 | 13.39 | -3.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.40 | 18.16% |
| R2 | 16.24 | 17.00% |
| R1 | 15.16 | 9.22% |
| Price | 13.88 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
2338 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 28, 2024 | HK$0.323 | 2.33% |
| 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
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