Wuxi Zhenhua Auto Parts Co., Ltd. Stock Forecast
Wuxi Zhenhua Auto Parts Co., Ltd. stock price down 4.29% on Monday
(Updated on Jun 24, 2024)
The Wuxi Zhenhua Auto Parts Co., Ltd. stock price fell by -4.29% on the last day (Monday, 24th Jun 2024) from $18.41 to $17.62. During the last trading day the stock fluctuated 5.86% from a day low at $17.57 to a day high of $18.60. The price has fallen in 6 of the last 10 days and is down by -6.18% for this period. Volume has increased on the last day by 232 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $19.89 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 -18.58% during the next 3 months and, with a 90% probability hold a price between $12.84 and $16.52 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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605319.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Wuxi Zhenhua Auto Parts 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 $18.79 and $19.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -21.83%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Wuxi Zhenhua Auto Parts Co., Ltd. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $1.03 (5.86%) between high and low. For the last week, the stock has had daily average volatility of 4.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (605319.SS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Wuxi Zhenhua Auto Parts Co., Ltd. to open at $17.93, and during the day (based on 14 day Average True Range), to move between $16.89 and $18.35, which gives a possible trading interval of +/-$0.728 (+/-4.13%) up or down from last closing price. If Wuxi Zhenhua Auto Parts Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.26% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $19.30, some $1.68 (9.53%) from the current price of $17.62, our system finds the risk reward not very attractive.
Is Wuxi Zhenhua Auto Parts Co., Ltd. stock A Buy?
Wuxi Zhenhua Auto Parts Co., Ltd. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.831 Sell Candidate Unchanged
Predicted Opening Price for Wuxi Zhenhua Auto Parts Co., Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $17.93 ( 1.76%) | $17.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 605319.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.96 | 7.60% |
| R2 | 18.57 | 5.37% |
| R1 | 18.32 | 3.99% |
| Price | 17.62 | |
| S1 | 17.54 | -0.474% |
| S2 | 17.29 | -1.85% |
| S3 | 16.90 | -4.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.90 | 24.29% |
| R2 | 21.10 | 19.75% |
| R1 | 19.30 | 9.53% |
| Price | 17.62 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
605319 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2024 | Jun 19, 2024 | Jun 19, 2024 | $0.380 | 2.02% |
| 2 | Nov 08, 2023 | Nov 08, 2023 | Nov 08, 2023 | $0.100 | 0.439% |
| 3 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | $0.150 | 0.95% |
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