WuXi AppTec Co., Ltd. Stock Forecast
Green day on Friday for WuXi AppTec Co., Ltd.
(Updated on May 10, 2024)
The WuXi AppTec Co., Ltd. stock price gained 2.14% on the last trading day (Friday, 10th May 2024), rising from HK$37.30 to HK$38.10. During the last trading day the stock fluctuated 4.94% from a day low at HK$36.45 to a day high of HK$38.25. The price has risen in 6 of the last 10 days and is up by 12.89% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 9 million shares were bought and sold for approximately HK$357.61 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -25.57% during the next 3 months and, with a 90% probability hold a price between HK$21.03 and HK$33.60 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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2359.HK Signals & Forecast
Mostly positive signals in the chart today. The WuXi AppTec Co., Ltd. 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$37.46 and HK$36.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 16.16%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for WuXi AppTec Co., Ltd. stock
WuXi AppTec Co., Ltd. finds support from accumulated volume at HK$37.95 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$1.80 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 4.33%.
Our recommended stop-loss: HK$36.50 (-4.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (2359.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect WuXi AppTec Co., Ltd. to open at HK$37.60, and during the day (based on 14 day Average True Range), to move between HK$35.93 and HK$40.27, which gives a possible trading interval of +/-HK$2.17 (+/-5.70%) up or down from last closing price. If WuXi AppTec Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.41% 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$37.95 (0.39%) than the resistance at HK$41.00 (7.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is WuXi AppTec Co., Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.464 Buy Candidate Unchanged
Predicted Opening Price for WuXi AppTec Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$37.60 ( 1.31%) | HK$38.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2359.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.40 | 3.41 % | |
| R2 | 38.71 | 1.61 % | ||
| R1 | 38.29 | 0.492 % | ||
| Current price: | 38.10 | |||
| Support | S1 | 36.91 | -3.12 % | |
| S2 | 36.49 | -4.23 % | ||
| S3 | 35.80 | -6.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.00 | 18.11 % | |
| R2 | 44.95 | 17.98 % | ||
| R1 | 41.00 | 7.61 % | ||
| Current price | 38.10 | |||
| Support | S1 | 37.95 | -0.394% | |
| S2 | 37.10 | -2.62% | ||
| S3 | 37.05 | -2.76% |
2359 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | HK$0.99 | 1.47% |
| 2 | May 30, 2022 | May 30, 2022 | May 30, 2022 | HK$0.616 | 0.652% |
| 3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | HK$0.365 | 0.227% |
| 4 | May 26, 2020 | May 26, 2020 | May 26, 2020 | HK$0.201 | 0.288% |
| 5 | Jun 17, 2019 | Jun 17, 2019 | Jun 17, 2019 | HK$0.281 | 0.727% |
FAQ
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