Asia Pacific Wire & Cable Corp Ltd Stock Forecast
Asia Pacific Wire & Cable Corp Ltd stock downgraded to Hold/Accumulate
(Updated on Apr 19, 2024)
The Asia Pacific Wire & Cable Corp Ltd stock price fell by -1.45% on the last day (Friday, 19th Apr 2024) from $1.37 to $1.35. During the last trading day the stock fluctuated 0.0074% from a day low at $1.35 to a day high of $1.35. The price has risen in 5 of the last 10 days but is still down by -3.56% for this period. Volume has increased on the last day by 397 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 thousand shares were bought and sold for approximately $1.41 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 2.33% during the next 3 months and, with a 90% probability hold a price between $1.34 and $1.49 at the end of this 3-month period.
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APWC 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 Asia Pacific Wire & Cable Corp Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $1.38 and $1.35. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -6.76%. Further fall is indicated until a new bottom pivot has been found. Asia Pacific Wire & Cable Corp Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Asia Pacific Wire & Cable Corp Ltd stock
Asia Pacific Wire & Cable Corp Ltd finds support from accumulated volume at $1.35 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 $0.0001 between high and low, or 0.0074%. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $1.29 (-4.57%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (APWC) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Asia Pacific Wire & Cable Corporation Limited to open at $1.35, and during the day (based on 14 day Average True Range), to move between $1.31 and $1.39, which gives a possible trading interval of +/-$0.0431 (+/-3.19%) 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 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.35 (0.01%) than the resistance at $1.36 (0.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Asia Pacific Wire & Cable Corporation Limited will release earnings BMO on Thursday, April 25, 2024. We will update the financials statements for Asia Pacific Wire & Cable Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.11% in the first trading day after earnings release.
Is Asia Pacific Wire & Cable Corporation Limited stock A Buy?
Asia Pacific Wire & Cable Corp Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.356 Hold/Accumulate Downgraded
Predicted Opening Price for Asia Pacific Wire & Cable Corporation Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $1.35 ( 0.0025%) | $1.35 |
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 | 1.35 | 0.0049 % | |
| R2 | 1.35 | 0.0021 % | ||
| R1 | 1.35 | 0.0004 % | ||
| Current price: | 1.35 | |||
| Support | S1 | 1.35 | -0.0053 % | |
| S2 | 1.35 | -0.0070 % | ||
| S3 | 1.35 | -0.0099 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.41 | 4.44 % | |
| R2 | 1.38 | 2.21 % | ||
| R1 | 1.36 | 0.733 % | ||
| Current price | 1.35 | |||
| Support | S1 | 1.35 | -0.0074% | |
| S2 | 1.33 | -1.49% | ||
| S3 | 1.32 | -2.23% |
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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