Wanhua Chemical Group Co., Ltd. Stock Forecast
Weaker technical forecast for Wanhua Chemical Group Co., Ltd. as stock downgraded to Sell Candidate.
(Updated on Jun 26, 2024)
The Wanhua Chemical Group Co., Ltd. stock price fell by -0.455% on the last day (Wednesday, 26th Jun 2024) from $85.78 to $85.39. During the last trading day the stock fluctuated 1.35% from a day low at $84.66 to a day high of $85.80. The price has fallen in 7 of the last 10 days and is down by -1.45% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 8 million shares were bought and sold for approximately $703.30 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Wanhua Chemical Group Co., Ltd. stock with a 90% probability to be traded between $84.67 and $94.24 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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600309.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.51%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wanhua Chemical Group Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $87.99. On a fall, the stock will find some support from the short-term average at $84.59. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Wanhua Chemical Group Co., Ltd. stock
Wanhua Chemical Group Co., Ltd. finds support from accumulated volume at $84.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.14 (1.35%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600309.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Wanhua Chemical Group Co., Ltd. to open at $85.28, and during the day (based on 14 day Average True Range), to move between $83.45 and $87.33, which gives a possible trading interval of +/-$1.94 (+/-2.27%) up or down from last closing price. If Wanhua Chemical Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $84.55 (0.98%) than the resistance at $87.00 (1.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wanhua Chemical Group Co., Ltd. stock A Buy?
Wanhua Chemical Group Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.388 Sell Candidate Downgraded
Predicted Opening Price for Wanhua Chemical Group Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $85.28 ( 0.125%) | $85.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600309.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 86.42 | 1.21% |
| R2 | 85.99 | 0.700% |
| R1 | 85.72 | 0.385% |
| Price | 85.39 | |
| S1 | 84.85 | -0.635% |
| S2 | 84.58 | -0.95% |
| S3 | 84.14 | -1.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.28 | 6.90% |
| R2 | 89.85 | 5.22% |
| R1 | 87.00 | 1.89% |
| Price | 85.39 | |
| S1 | 84.55 | -0.98% |
| S2 | 84.50 | -1.04% |
| S3 | 79.74 | -6.62% |
600309 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 22, 2024 | $1.63 | 1.88% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | $1.60 | 1.85% |
| 3 | Apr 29, 2022 | Apr 29, 2022 | Apr 29, 2022 | $2.50 | 3.21% |
| 4 | Apr 26, 2021 | Apr 26, 2021 | Apr 26, 2021 | $1.30 | 1.20% |
| 5 | May 15, 2020 | May 15, 2020 | May 15, 2020 | $1.30 | 2.96% |
FAQ
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