China Billion Resources Limited Stock Forecast

Green day on Friday for China Billion Resources Limited
(Updated on Jun 28, 2024)

0274.HK Signals & Forecast

The China Billion Resources 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$0.168. On a fall, the stock will find some support from the long-term average at approximately HK$0.0719. 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). China Billion Resources Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, June 20, 2024, and so far it has fallen -21.13%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for China Billion Resources Limited stock

China Billion Resources Limited finds support from accumulated volume at HK$0.151 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". 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 6.10%.

Our recommended stop-loss: HK$0.146 (-4.73%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (0274.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect China Billion Resources Limited to open at HK$0.153, and during the day (based on 14 day Average True Range), to move between HK$0.140 and HK$0.166, which gives a possible trading interval of +/-HK$0.0133 (+/-8.69%) up or down from last closing price. If China Billion Resources Limited takes out the full calculated possible swing range there will be an estimated 17.38% 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$0.151 (1.31%) than the resistance at HK$0.163 (6.54%), 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 Billion Resources 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 Billion Resources Limited stock to perform well in the short-term.

Current score: 2.682 Buy Candidate Unchanged

Predicted Opening Price for China Billion Resources Limited of Tuesday, July 2, 2024

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