Zhejiang Wazam New Materials Co.,LTD. Stock Forecast
Zhejiang Wazam New Materials Co.,LTD. stock upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Zhejiang Wazam New Materials Co.,LTD. stock price gained 3.30% on the last trading day (Friday, 28th Jun 2024), rising from $23.02 to $23.78. During the last trading day the stock fluctuated 7.18% from a day low at $22.70 to a day high of $24.33. The price has fallen in 6 of the last 10 days and is down by -7.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 780 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $79.71 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.81% during the next 3 months and, with a 90% probability hold a price between $21.11 and $28.68 at the end of this 3-month period.
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603186.SS Signals & Forecast
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. The Zhejiang Wazam New Materials 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 $23.91 and $24.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -12.02%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Zhejiang Wazam New Materials Co.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at $22.10 and $21.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zhejiang Wazam New Materials Co.,LTD. finds support just below today's level at $22.10. If this is broken, then the next support from accumulated volume will be at $21.04 and $19.50.
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 $1.63 between high and low, or 7.18%. For the last week, the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: $22.37 (-5.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 48 days ago.)
Trading Expectations (603186.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Wazam New Materials Co.,LTD. to open at $23.60, and during the day (based on 14 day Average True Range), to move between $22.53 and $25.03, which gives a possible trading interval of +/-$1.25 (+/-5.26%) up or down from last closing price. If Zhejiang Wazam New Materials Co.,LTD. takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.38 (6.73%) than the support at $22.10 (7.06%), 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 Zhejiang Wazam New Materials Co.,LTD. stock A Buy?
Zhejiang Wazam New Materials Co.,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.873 Hold/Accumulate Upgraded
Predicted Opening Price for Zhejiang Wazam New Materials Co.,LTD. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $23.60 ( 0.743%) | $23.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603186.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.23 | 6.11% |
| R2 | 24.61 | 3.49% |
| R1 | 24.23 | 1.88% |
| Price | 23.78 | |
| S1 | 22.98 | -3.36% |
| S2 | 22.60 | -4.98% |
| S3 | 21.97 | -7.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27.03 | 13.67% |
| R2 | 26.85 | 12.91% |
| R1 | 25.38 | 6.73% |
| Price | 23.78 | |
| S1 | 22.10 | -7.06% |
| S2 | 21.04 | -11.52% |
| S3 | 19.50 | -18.00% |
603186 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2023 | May 16, 2023 | May 16, 2023 | $0.0800 | 0.287% |
| 2 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | $0.500 | 2.68% |
| 3 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | $0.280 | 0.711% |
| 4 | Apr 17, 2020 | Apr 17, 2020 | Apr 17, 2020 | $0.170 | 0.328% |
| 5 | May 09, 2019 | May 09, 2019 | May 09, 2019 | $0.150 | 0.608% |
FAQ
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