China Everbright International Limited Stock Forecast

Red day on Friday for China Everbright International Limited
(Updated on May 03, 2024)

0257.HK Signals & Forecast

The China Everbright International 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$3.22. On a fall, the stock will find some support from the long-term average at approximately HK$3.12. 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, April 26, 2024, and so far it has fallen -3.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Support, Risk & Stop-loss for China Everbright International Limited stock

China Everbright International Limited finds support from accumulated volume at HK$3.04 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$0.0800 (2.54%) between high and low. For the last week, the stock has had daily average volatility of 2.96%.

Our recommended stop-loss: HK$3.02 (-4.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (0257.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Everbright International Limited to open at HK$3.18, and during the day (based on 14 day Average True Range), to move between HK$3.06 and HK$3.28, which gives a possible trading interval of +/-HK$0.115 (+/-3.63%) up or down from last closing price. If China Everbright International Limited takes out the full calculated possible swing range there will be an estimated 7.25% 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$3.19 (0.63%) than the support at HK$3.04 (4.10%), 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 Everbright International Limited stock A Buy?

China Everbright International Limited 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: 0.482 Hold/Accumulate Unchanged

Predicted Opening Price for China Everbright International Limited of Monday, May 6, 2024

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