China Automobile New Retail Stock Forecast

Green day on Thursday for China Automobile New Retail stock after gaining 1.37%
(Updated on Jul 04, 2024)

0526.HK Signals & Forecast

The China Automobile New Retail 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$0.0754. On a fall, the stock will find some support from the long-term average at approximately HK$0.0691. 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. 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 Wednesday, June 19, 2024, and so far it has fallen -10.84%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for China Automobile New Retail stock

China Automobile New Retail finds support from accumulated volume at HK$0.0710 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 much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0060 between high and low, or 8.22%. For the last week the stock has had daily average volatility of 7.38%.

Our recommended stop-loss: HK$0.0699 (-5.56%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 60 days ago.)

Trading Expectations (0526.HK) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect China Automobile New Retail to open at HK$0.0753, and during the day (based on 14 day Average True Range), to move between HK$0.0682 and HK$0.0798, which gives a possible trading interval of +/-HK$0.0058 (+/-7.78%) up or down from last closing price. If China Automobile New Retail takes out the full calculated possible swing range there will be an estimated 15.55% 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$0.0710 (4.05%) than the resistance at HK$0.0780 (5.41%), 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 Automobile New Retail stock A Buy?

China Automobile New Retail holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.696 Hold/Accumulate Unchanged

Predicted Opening Price for China Automobile New Retail of Friday, July 5, 2024

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