Wuhan Ligong Guangke Co., Ltd. Stock Forecast
High volatility in Wuhan Ligong Guangke Co., Ltd. stock price on Tuesday which ended trading at ¥27.80
(Updated on Jun 25, 2024)
The Wuhan Ligong Guangke Co., Ltd. stock price gained 2.58% on the last trading day (Tuesday, 25th Jun 2024), rising from ¥27.10 to ¥27.80. During the last trading day the stock fluctuated 10.88% from a day low at ¥26.47 to a day high of ¥29.35. The price has risen in 8 of the last 10 days and is up by 36.95% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ¥307.66 million.
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 -16.44% during the next 3 months and, with a 90% probability hold a price between ¥16.09 and ¥25.58 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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300557.SZ Signals & Forecast
The Wuhan Ligong Guangke 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 ¥27.04 and ¥24.82. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -10.12%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Wuhan Ligong Guangke Co., Ltd. stock
Wuhan Ligong Guangke Co., Ltd. finds support from accumulated volume at ¥27.29 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 ¥2.88 between high and low, or 10.88%. For the last week, the stock has had daily average volatility of 33.16%.
Our recommended stop-loss: ¥26.23 (-5.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (300557.SZ) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Wuhan Ligong Guangke Co., Ltd. to open at ¥27.87, and during the day (based on 14 day Average True Range), to move between ¥24.40 and ¥31.20, which gives a possible trading interval of +/-¥3.40 (+/-12.21%) up or down from last closing price. If Wuhan Ligong Guangke Co., Ltd. takes out the full calculated possible swing range there will be an estimated 24.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥27.29 (1.83%) than the resistance at ¥28.98 (4.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wuhan Ligong Guangke Co., Ltd. stock A Buy?
Wuhan Ligong Guangke 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.455 Hold/Accumulate Downgraded
Predicted Opening Price for Wuhan Ligong Guangke Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ¥27.87 ( 0.264%) | ¥27.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300557.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.75 | 10.62% |
| R2 | 29.65 | 6.67% |
| R1 | 28.97 | 4.22% |
| Price | 27.80 | |
| S1 | 26.77 | -3.69% |
| S2 | 26.09 | -6.14% |
| S3 | 24.99 | -10.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.93 | 11.26% |
| R2 | 29.88 | 7.48% |
| R1 | 28.98 | 4.24% |
| Price | 27.80 | |
| S1 | 27.29 | -1.83% |
| S2 | 27.10 | -2.52% |
| S3 | 24.15 | -13.13% |
300557 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 17, 2024 | May 17, 2024 | May 17, 2024 | ¥0.200 | 0.87% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ¥0.200 | 0.609% |
| 3 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | ¥0.159 | 0.770% |
| 4 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | ¥0.100 | 0.479% |
| 5 | May 28, 2018 | May 28, 2018 | May 28, 2018 | ¥0.250 | 0.96% |
FAQ
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