China Investment Development Limited Stock Forecast
Weaker technical forecast for China Investment Development Limited as stock downgraded to Strong Sell Candidate.
(Updated on Apr 18, 2024)
The China Investment Development Limited stock price fell by -1.75% on the last day (Thursday, 18th Apr 2024) from HK$0.570 to HK$0.560. During the last trading day the stock fluctuated 8.93% from a day low at HK$0.560 to a day high of HK$0.610. The price has fallen in 6 of the last 10 days and is down by -17.65% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -40 thousand shares and in total, 160 thousand shares were bought and sold for approximately HK$89.60 thousand.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (HK$0.562) are considered to be a "second chance" to get out. According to the fan-theory HK$0.454 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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0204.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Investment Development Limited 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 HK$0.586 and HK$0.686. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -25.33%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Investment Development Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.0500 between high and low, or 8.93%. For the last week the stock has had daily average volatility of 5.96%.
China Investment Development Limited is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0204.HK) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect China Investment Development Limited to open at HK$0.577, and during the day (based on 14 day Average True Range), to move between HK$0.521 and HK$0.599, which gives a possible trading interval of +/-HK$0.0389 (+/-6.95%) up or down from last closing price. If China Investment Development Limited takes out the full calculated possible swing range there will be an estimated 13.90% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.610, some HK$0.0500 (8.93%) from the current price of HK$0.560, our system finds the risk reward not very attractive.
Is China Investment Development Limited stock A Buy?
China Investment Development Limited holds several negative signals and is within a wide and falling trend, so we believe 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 Strong Sell candidate.
Current score: -5.753 Strong Sell Candidate Downgraded
Predicted Opening Price for China Investment Development Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| HK$0.577 ( 2.98%) | HK$0.560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0204.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.627 | 11.90 % | |
| R2 | 0.608 | 8.49 % | ||
| R1 | 0.596 | 6.39 % | ||
| Current price: | 0.560 | |||
| Support | S1 | 0.558 | -0.435 % | |
| S2 | 0.546 | -2.54 % | ||
| S3 | 0.527 | -5.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.680 | 21.43 % | |
| R2 | 0.670 | 19.64 % | ||
| R1 | 0.610 | 8.93 % | ||
| Current price | 0.560 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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