Asia Energy Logistics Group Limited Stock Forecast
Evaluation of Asia Energy Logistics Group Limited stock downgraded after the last trading session.
(Updated on May 02, 2024)
No changes to the price of Asia Energy Logistics Group Limited stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 0.402% from a day low at HK$0.249 to a day high of HK$0.250. The price has been going up and down for this period, and there has been a -0.4% loss for the last 2 weeks.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.250 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.21% during the next 3 months and, with a 90% probability hold a price between HK$0.226 and HK$0.244 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0351.HK Signals & Forecast
The Asia Energy Logistics Group Limited 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$0.247 and HK$0.246. 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, April 25, 2024, and so far it has fallen -0.400%. 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.
Support, Risk & Stop-loss for Asia Energy Logistics Group Limited stock
Asia Energy Logistics Group Limited finds support from accumulated volume at HK$0.240 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 controlled movements and therefore the general risk is considered 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$0.0010 between high and low, or 0.402%. For the last week the stock has had daily average volatility of 1.09%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0351.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Asia Energy Logistics Group Limited to open at HK$0.249, and during the day (based on 14 day Average True Range), to move between HK$0.243 and HK$0.255, which gives a possible trading interval of +/-HK$0.0064 (+/-2.56%) up or down from last closing price. If Asia Energy Logistics Group Limited takes out the full calculated possible swing range there will be an estimated 5.12% 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$0.250 (0.40%) than the support at HK$0.240 (3.61%), 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 Asia Energy Logistics Group Limited stock A Buy?
Asia Energy Logistics Group 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 Hold/Accumulate to a Sell candidate.
Current score: -1.358 Sell Candidate Downgraded
Predicted Opening Price for Asia Energy Logistics Group Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$0.249 ( 0.134%) | HK$0.249 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0351.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.250 | 0.535 % | |
| R2 | 0.250 | 0.382 % | ||
| R1 | 0.250 | 0.287 % | ||
| Current price: | 0.249 | |||
| Support | S1 | 0.249 | -0.0195 % | |
| S2 | 0.249 | -0.114 % | ||
| S3 | 0.248 | -0.268 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.265 | 6.43 % | |
| R2 | 0.255 | 2.41 % | ||
| R1 | 0.250 | 0.402 % | ||
| Current price | 0.249 | |||
| Support | S1 | 0.240 | -3.61% | |
| S2 | 0.238 | -4.42% | ||
| S3 | 0.235 | -5.62% |
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