Asia Pacific Wire & Cable Corp Ltd Stock Forecast
Asia Pacific Wire & Cable Corp Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The Asia Pacific Wire & Cable Corp Ltd stock price gained 3.83% on the last trading day (Wednesday, 1st May 2024), rising from $1.34 to $1.39. During the last trading day the stock fluctuated 6.05% from a day low at $1.32 to a day high of $1.40. The price has fallen in 4 of the last 10 days but is still up by 0.72% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 15 thousand shares were bought and sold for approximately $21.05 thousand.
The stock lies in the middle of a 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 3.02% during the next 3 months and, with a 90% probability hold a price between $1.34 and $1.50 at the end of this 3-month period.
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APWC Signals & Forecast
The Asia Pacific Wire & Cable Corp Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.34 and $1.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 6.92%. Further rise is indicated until a new top pivot has been found. Asia Pacific Wire & Cable Corp Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Asia Pacific Wire & Cable Corp Ltd stock
Asia Pacific Wire & Cable Corp Ltd finds support from accumulated volume at $1.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0799 between high and low, or 6.05%. For the last week, the stock has had daily average volatility of 5.82%.
Our recommended stop-loss: $1.33 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (APWC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Asia Pacific Wire & Cable Corporation Limited to open at $1.37, and during the day (based on 14 day Average True Range), to move between $1.34 and $1.44, which gives a possible trading interval of +/-$0.0501 (+/-3.60%) up or down from last closing price. If Asia Pacific Wire & Cable Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.40 (0.72%) than the support at $1.38 (0.72%), 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 Asia Pacific Wire & Cable Corporation Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Asia Pacific Wire & Cable Corp Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.713 Buy Candidate Upgraded
Predicted Opening Price for Asia Pacific Wire & Cable Corporation Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $1.37 ( 1.44%) | $1.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APWC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 4.31 % | |
| R2 | 1.42 | 2.11 % | ||
| R1 | 1.40 | 0.755 % | ||
| Current price: | 1.39 | |||
| Support | S1 | 1.34 | -3.64 % | |
| S2 | 1.32 | -4.99 % | ||
| S3 | 1.29 | -7.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 4.17 % | |
| R2 | 1.41 | 1.44 % | ||
| R1 | 1.40 | 0.719 % | ||
| Current price | 1.39 | |||
| Support | S1 | 1.38 | -0.719% | |
| S2 | 1.35 | -2.88% | ||
| S3 | 1.32 | -5.04% |
APWC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 30, 2018 | Sep 13, 2018 | Nov 30, 2018 | $0.0800 | 3.54% |
| 2 | Oct 21, 2017 | Oct 30, 2017 | Nov 30, 2017 | $0.100 | 3.39% |
FAQ
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