Wuxi Lead Intelligent Equipment Co Ltd Stock Forecast
Volatile ride for Wuxi Lead Intelligent Equipment Co Ltd stock price on Friday moving between ¥20.24 and ¥22.40
(Updated on May 17, 2024)
The Wuxi Lead Intelligent Equipment Co Ltd stock price gained 0.435% on the last trading day (Friday, 17th May 2024), rising from ¥20.71 to ¥20.80. During the last trading day the stock fluctuated 10.67% from a day low at ¥20.24 to a day high of ¥22.40. The price has fallen in 6 of the last 10 days and is down by -6.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 27 million shares were bought and sold for approximately ¥567.71 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥20.70 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Wuxi Lead Intelligent Equipment Co Ltd stock with a 90% probability to be traded between ¥20.37 and ¥25.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300450.SZ Signals & Forecast
There are mixed signals in the stock today. The Wuxi Lead Intelligent Equipment 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 ¥21.42 and ¥22.98. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 0.435%. 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.
Support, Risk & Stop-loss for Wuxi Lead Intelligent Equipment Co Ltd stock
Wuxi Lead Intelligent Equipment Co Ltd finds support from accumulated volume at ¥20.71 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 ¥2.16 between high and low, or 10.67%. For the last week, the stock has had daily average volatility of 7.29%.
Our recommended stop-loss: ¥19.52 (-6.13%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (300450.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Wuxi Lead Intelligent Equipment Co Ltd to open at ¥21.15, and during the day (based on 14 day Average True Range), to move between ¥19.44 and ¥22.16, which gives a possible trading interval of +/-¥1.36 (+/-6.54%) up or down from last closing price. If Wuxi Lead Intelligent Equipment Co Ltd takes out the full calculated possible swing range there will be an estimated 13.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥20.71 (0.43%) than the resistance at ¥23.81 (14.47%), 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 Lead Intelligent Equipment Co Ltd stock A Buy?
Wuxi Lead Intelligent Equipment Co Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.026 Hold/Accumulate Upgraded
Predicted Opening Price for Wuxi Lead Intelligent Equipment Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥21.15 ( 1.67%) | ¥20.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300450.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.31 | 12.05 % | |
| R2 | 22.48 | 8.08 % | ||
| R1 | 21.97 | 5.63 % | ||
| Current price: | 20.80 | |||
| Support | S1 | 20.32 | -2.30 % | |
| S2 | 19.81 | -4.75 % | ||
| S3 | 18.99 | -8.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.73 | 23.70 % | |
| R2 | 25.17 | 21.01 % | ||
| R1 | 23.81 | 14.47 % | ||
| Current price | 20.80 | |||
| Support | S1 | 20.71 | -0.433% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
300450 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2023 | Jun 27, 2023 | Jun 27, 2023 | ¥0.537 | 1.59% |
| 2 | Jun 27, 2022 | Jun 27, 2022 | Jun 27, 2022 | ¥0.500 | 0.741% |
| 3 | Jun 03, 2021 | Jun 03, 2021 | Jun 03, 2021 | ¥0.188 | 0.336% |
| 4 | Jul 13, 2020 | Jul 13, 2020 | Jul 13, 2020 | ¥0.102 | 0.308% |
| 5 | Jun 05, 2019 | Jun 05, 2019 | Jun 05, 2019 | ¥0.175 | 1.00% |
FAQ
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