China Strategic Holdings Limited Stock Forecast
China Strategic Holdings Limited stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on May 06, 2024)
The China Strategic Holdings Limited stock price fell by -3.45% on the last day (Monday, 6th May 2024) from HK$0.0290 to HK$0.0280. During the last trading day the stock fluctuated 3.70% from a day low at HK$0.0270 to a day high of HK$0.0280. The price has been going up and down for this period, and there has been a 3.7% gain for the last 2 weeks. Volume has increased on the last day by 29 million 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, 40 million shares were bought and sold for approximately HK$1.13 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Strategic Holdings Limited stock with a 90% probability to be traded between HK$0.0259 and HK$0.0319 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0235.HK Signals & Forecast
The China Strategic Holdings 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$0.0281. On a fall, the stock will find some support from the long-term average at approximately HK$0.0277. 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. 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. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -3.45%. Further fall is indicated until a new bottom pivot has been found. China Strategic Holdings Limited 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".
Support, Risk & Stop-loss for China Strategic Holdings Limited stock
China Strategic Holdings Limited finds support from accumulated volume at HK$0.0270 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0010 (3.70%) between high and low. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0235.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect China Strategic Holdings Limited to open at HK$0.0277, and during the day (based on 14 day Average True Range), to move between HK$0.0265 and HK$0.0295, which gives a possible trading interval of +/-HK$0.0015 (+/-5.29%) up or down from last closing price. If China Strategic Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.57% 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$0.0290 (3.57%) than the support at HK$0.0270 (3.57%), 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 China Strategic Holdings Limited stock A Buy?
China Strategic Holdings Limited holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -1.791 Sell Candidate Downgraded
Predicted Opening Price for China Strategic Holdings Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$0.0277 ( 1.19%) | HK$0.0280 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0235.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0287 | 2.38 % | |
| R2 | 0.0283 | 1.02 % | ||
| R1 | 0.0280 | 0.174 % | ||
| Current price: | 0.0280 | |||
| Support | S1 | 0.0273 | -2.55 % | |
| S2 | 0.0270 | -3.40 % | ||
| S3 | 0.0267 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0320 | 14.29 % | |
| R2 | 0.0300 | 7.14 % | ||
| R1 | 0.0290 | 3.57 % | ||
| Current price | 0.0280 | |||
| Support | S1 | 0.0270 | -3.57% | |
| S2 | 0.0260 | -7.14% | ||
| S3 | 0 | . |
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