WuXi AppTec fell below the 250-day moving average in December 2021, and began a downward sideways oscillation mode. It can be clearly seen that WuXi AppTec has been fluctuating since December 2021 to the present, with an oscillation range between 82 and 116 blocks. You can draw a resistance level of 116 blocks and a support level of 8 blocks. Now WuXi AppTec's stock price is close to the 82-block support level again, and it is time to test the 82-block support level.
Take a look at the trend of WuXi AppTec from May 2019 to the present. WuXi AppTec's stock price rose from 30 yuan in May 2019 to a maximum of 1,171 yuan, and then fell to 84 yuan now. Judging from the trend, WuXi AppTec's current price is still high, although the stock price has fallen by 50% from 171 yuan to 84 yuan now. Although WuXi AppTec has fallen for one year, it has obviously not fallen to the bottom yet.
Let’s take a look at WuXi AppTec’s trend this year. After a year of decline, we can see that WuXi AppTec's current 200-day moving average and 250-day moving average have obviously gone down, which shows that WuXi AppTec's current general trend has already declined. Moreover, WuXi AppTec's stock price rebounded in July, but was blocked by the 200-day moving average. According to the current trend of WuXi AppTec, there should be no problem falling below the 82 support level. If it falls below 82 yuan, WuXi AppTec will definitely fall further. Even if it does not fall below 82 yuan's support level, there are still 200-day and 250-day moving averages that will be blocked. It is unlikely to re-enter the upward trend in the short term.
