China New Economy Fund Limited Stock Forecast

High volatility in China New Economy Fund Limited stock price on Thursday which ended trading at HK$0.158
(Updated on May 02, 2024)

0080.HK Signals & Forecast

The China New Economy Fund Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.173. On a fall, the stock will find some support from the long-term average at approximately HK$0.156. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 8.22%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.

Support, Risk & Stop-loss for China New Economy Fund Limited stock

China New Economy Fund Limited finds support from accumulated volume at HK$0.157 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$0.0210 between high and low, or 15.11%. For the last week the stock has had daily average volatility of 14.30%.

Our recommended stop-loss: HK$0.153 (-3.46%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (0080.HK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect China New Economy Fund Limited to open at HK$0.152, and during the day (based on 14 day Average True Range), to move between HK$0.142 and HK$0.174, which gives a possible trading interval of +/-HK$0.0161 (+/-10.17%) up or down from last closing price. If China New Economy Fund Limited takes out the full calculated possible swing range there will be an estimated 20.35% 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$0.157 (0.63%) than the resistance at HK$0.164 (3.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China New Economy Fund 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 China New Economy Fund Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.361 Buy Candidate Upgraded

Predicted Opening Price for China New Economy Fund Limited of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.