Zhejiang Weiming Environment Protection Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Zhejiang Weiming Environment Protection stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Zhejiang Weiming Environment Protection stock price gained 0.636% on the last trading day (Friday, 28th Jun 2024), rising from $20.45 to $20.58. During the last trading day the stock fluctuated 2.77% from a day low at $20.23 to a day high of $20.79. The price has fallen in 8 of the last 10 days and is down by -7.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 167 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $70.59 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.49 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.41% during the next 3 months and, with a 90% probability hold a price between $22.83 and $25.28 at the end of this 3-month period.
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603568.SS Signals & Forecast
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 Weiming Environment Protection 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 $20.76 and $21.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -7.71%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, October 26, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, October 26, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Zhejiang Weiming Environment Protection stock
Zhejiang Weiming Environment Protection finds support from accumulated volume at $20.29 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 $0.560 (2.77%) between high and low. For the last week, the stock has had daily average volatility of 2.60%.
Zhejiang Weiming Environment Protection is oversold on RSI14 (26). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (603568.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zhejiang Weiming Environment Protection Co., Ltd. to open at $20.53, and during the day (based on 14 day Average True Range), to move between $20.09 and $21.07, which gives a possible trading interval of +/-$0.487 (+/-2.37%) up or down from last closing price. If Zhejiang Weiming Environment Protection Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.29 (1.41%) than the resistance at $22.00 (6.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Zhejiang Weiming Environment Protection Co., Ltd. stock A Buy?
The Zhejiang Weiming Environment Protection stock holds several negative signals and despite the positive trend, we believe Zhejiang Weiming Environment Protection will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.616 Sell Candidate Downgraded
Predicted Opening Price for Zhejiang Weiming Environment Protection Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $20.53 ( 0.227%) | $20.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 603568.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.09 | 2.49% |
| R2 | 20.88 | 1.45% |
| R1 | 20.75 | 0.81% |
| Price | 20.58 | |
| S1 | 20.32 | -1.27% |
| S2 | 20.19 | -1.91% |
| S3 | 19.97 | -2.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.18 | 7.77% |
| R2 | 22.10 | 7.39% |
| R1 | 22.00 | 6.90% |
| Price | 20.58 | |
| S1 | 20.29 | -1.41% |
| S2 | 19.44 | -5.54% |
| S3 | 18.92 | -8.07% |
603568 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 24, 2024 | Jun 24, 2024 | Jun 24, 2024 | $0.250 | 1.21% |
| 2 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | $0.150 | 0.87% |
| 3 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | $0.130 | 0.419% |
| 4 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | $0.235 | 1.34% |
| 5 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | $0.238 | 1.41% |
FAQ
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