Weihai Guangwei Composites Co Ltd Stock Forecast
Stronger technical forecast for Weihai Guangwei Composites Co Ltd stock price after Friday trading.
(Updated on May 31, 2024)
The Weihai Guangwei Composites Co Ltd stock price gained 1.56% on the last trading day (Friday, 31st May 2024), rising from ¥25.65 to ¥26.05. During the last trading day the stock fluctuated 1.63% from a day low at ¥25.82 to a day high of ¥26.24. The price has been going up and down for this period, and there has been a -0.19% loss for the last 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, 8 million shares were bought and sold for approximately ¥220.00 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ¥25.58 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.48% during the next 3 months and, with a 90% probability hold a price between ¥22.39 and ¥24.77 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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300699.SZ Signals & Forecast
There are mixed signals in the stock today. The Weihai Guangwei Composites 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 ¥26.24 and ¥27.23. 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 30, 2024, and so far it has risen 1.56%. 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 Weihai Guangwei Composites Co Ltd stock
Weihai Guangwei Composites Co Ltd finds support from accumulated volume at ¥25.79 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 ¥0.420 between high and low, or 1.63%. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: ¥24.64 (-5.43%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (300699.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Weihai Guangwei Composites Co Ltd to open at ¥26.04, and during the day (based on 14 day Average True Range), to move between ¥24.80 and ¥27.30, which gives a possible trading interval of +/-¥1.25 (+/-4.79%) up or down from last closing price. If Weihai Guangwei Composites Co Ltd takes out the full calculated possible swing range there will be an estimated 9.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥26.26 (0.81%) than the support at ¥25.79 (1.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Weihai Guangwei Composites Co Ltd stock A Buy?
Weihai Guangwei Composites 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: -0.496 Hold/Accumulate Upgraded
Predicted Opening Price for Weihai Guangwei Composites Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥26.04 ( 0.0512%) | ¥26.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300699.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.46 | 1.56 % | |
| R2 | 26.30 | 0.95 % | ||
| R1 | 26.20 | 0.565 % | ||
| Current price: | 26.05 | |||
| Support | S1 | 25.88 | -0.667 % | |
| S2 | 25.78 | -1.05 % | ||
| S3 | 25.62 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.35 | 16.51 % | |
| R2 | 29.87 | 14.66 % | ||
| R1 | 26.26 | 0.81 % | ||
| Current price | 26.05 | |||
| Support | S1 | 25.79 | -1.00% | |
| S2 | 25.77 | -1.07% | ||
| S3 | 25.65 | -1.54% |
300699 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 11, 2023 | May 11, 2023 | May 11, 2023 | ¥0.700 | 2.28% |
| 2 | May 27, 2022 | May 27, 2022 | May 27, 2022 | ¥0.500 | 1.50% |
| 3 | May 27, 2021 | May 27, 2021 | May 27, 2021 | ¥0.500 | 1.16% |
| 4 | May 14, 2020 | May 14, 2020 | May 14, 2020 | ¥0.500 | 1.38% |
| 5 | May 16, 2019 | May 16, 2019 | May 16, 2019 | ¥0.500 | 1.99% |
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