CMIC Ocean En-Tech Holding Co., Ltd. Stock Forecast

CMIC Ocean En-Tech Holding Co., Ltd. stock price down 0% on Friday
(Updated on May 10, 2024)

0206.HK Signals & Forecast

The CMIC Ocean En-Tech Holding Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.229 and HK$0.228. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Friday, April 12, 2024 and based on theory for this formation the price should go up by 2.22% to HK$0.237 within 7 trading days since signal was issued (Monday, May 13, 2024).

Support, Risk & Stop-loss for CMIC Ocean En-Tech Holding Co., Ltd. stock

CMIC Ocean En-Tech Holding Co., Ltd. finds support from accumulated volume at HK$0.230 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.16%

Our recommended stop-loss: HK$0.223 (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (0206.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect CMIC Ocean En-Tech Holding Co., Ltd. to open at HK$0.232, and during the day (based on 14 day Average True Range), to move between HK$0.226 and HK$0.238, which gives a possible trading interval of +/-HK$0.0063 (+/-2.73%) up or down from last closing price. If CMIC Ocean En-Tech Holding Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.45% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.233 (0.43%) than the support at HK$0.230 (0.86%), 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 CMIC Ocean En-Tech Holding Co., Ltd. stock A Buy?

CMIC Ocean En-Tech Holding Co., Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.669 Hold/Accumulate Unchanged

Predicted Opening Price for CMIC Ocean En-Tech Holding Co., Ltd. of Monday, May 13, 2024

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