Wan Leader International Limited Stock Forecast
Wan Leader International Limited stock price up 4.00% on Friday
(Updated on May 31, 2024)
The Wan Leader International Limited stock price gained 4.00% on the last trading day (Friday, 31st May 2024), rising from HK$0.0250 to HK$0.0260. During the last trading day the stock fluctuated 4.00% from a day low at HK$0.0250 to a day high of HK$0.0260. The price has fallen in 5 of the last 10 days and is down by -7.14% for this period. Volume fell on the last day by -5 million shares and in total, 110 thousand shares were bought and sold for approximately HK$2.86 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0250 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -5.60% during the next 3 months and, with a 90% probability hold a price between HK$0.0236 and HK$0.0318 at the end of this 3-month period.
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8482.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.00%. 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 Wan Leader International Limited 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 HK$0.0266 and HK$0.0298. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Wan Leader International Limited stock
Wan Leader International Limited finds support from accumulated volume at HK$0.0250 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0010 between high and low, or 4.00%. For the last week the stock has had daily average volatility of 3.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8482.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Wan Leader International Limited to open at HK$0.0257, and during the day (based on 14 day Average True Range), to move between HK$0.0249 and HK$0.0271, which gives a possible trading interval of +/-HK$0.0011 (+/-4.28%) up or down from last closing price. If Wan Leader International Limited takes out the full calculated possible swing range there will be an estimated 8.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.0250 (3.85%) than the resistance at HK$0.0280 (7.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wan Leader International Limited stock A Buy?
Wan Leader International Limited 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: -3.496 Sell Candidate Unchanged
Predicted Opening Price for Wan Leader International Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$0.0257 ( 1.28%) | HK$0.0260 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8482.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0267 | 2.56 % | |
| R2 | 0.0263 | 1.09 % | ||
| R1 | 0.0260 | 0.187 % | ||
| Current price: | 0.0260 | |||
| Support | S1 | 0.0253 | -2.75 % | |
| S2 | 0.0250 | -3.66 % | ||
| S3 | 0.0247 | -5.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0310 | 19.23 % | |
| R2 | 0.0290 | 11.54 % | ||
| R1 | 0.0280 | 7.69 % | ||
| Current price | 0.0260 | |||
| Support | S1 | 0.0250 | -3.85% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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