WuXi Biologics (Cayman) Inc. Stock Forecast
Evaluation of WuXi Biologics (Cayman) Inc. stock downgraded after the last trading session.
(Updated on Apr 18, 2024)
No changes to the price of WuXi Biologics (Cayman) Inc. stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 1.28% from a day low at $3.32 to a day high of $3.36. The price has fallen in 6 of the last 10 days and is down by -6.98% for this period.
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 -38.76% during the next 3 months and, with a 90% probability hold a price between $1.62 and $2.99 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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WXXWY Signals & Forecast
There are mixed signals in the stock today. The WuXi Biologics (Cayman) Inc. 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 $3.40 and $3.85. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".
Support, Risk & Stop-loss for WuXi Biologics (Cayman) Inc. stock
WuXi Biologics (Cayman) Inc. finds support from accumulated volume at $3.27 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 $0.0425 between high and low, or 1.28%. For the last week, the stock has had daily average volatility of 2.27%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (WXXWY) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect WuXi Biologics (Cayman) Inc. to open at $3.34, and during the day (based on 14 day Average True Range), to move between $3.16 and $3.50, which gives a possible trading interval of +/-$0.169 (+/-5.08%) up or down from last closing price. If WuXi Biologics (Cayman) Inc. takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.36 (0.90%) than the support at $3.27 (1.71%), 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 WuXi Biologics (Cayman) Inc. stock A Buy?
WuXi Biologics (Cayman) Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.823 Sell Candidate Downgraded
Predicted Opening Price for WuXi Biologics (Cayman) Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.34 ( 0.175%) | $3.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WXXWY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.38 | 1.45 % | |
| R2 | 3.36 | 0.96 % | ||
| R1 | 3.35 | 0.663 % | ||
| Current price: | 3.33 | |||
| Support | S1 | 3.32 | -0.312 % | |
| S2 | 3.31 | -0.614 % | ||
| S3 | 3.29 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.00 | 20.12 % | |
| R2 | 3.98 | 19.52 % | ||
| R1 | 3.36 | 0.90 % | ||
| Current price | 3.33 | |||
| Support | S1 | 3.27 | -1.71% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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