Pan Asia Environmental Protection Group Stock Forecast

Pan Asia Environmental Protection Group stock downgraded to Buy Candidate
(Updated on May 17, 2024)

0556.HK Signals & Forecast

The Pan Asia Environmental Protection Group 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$0.385 and HK$0.359. A breakdown below any of these levels will issue sell signals. 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 Monday, March 04, 2024, and so far it has fallen -16.84%. Further fall is indicated until a new bottom pivot has been found. 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".

Support, Risk & Stop-loss for Pan Asia Environmental Protection Group stock

Pan Asia Environmental Protection Group finds support from accumulated volume at HK$0.385 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0150 between high and low, or 3.80%. For the last week the stock has had daily average volatility of 2.85%.

Our recommended stop-loss: HK$0.371 (-5.96%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 49 days ago.)

Trading Expectations (0556.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Pan Asia Environmental Protection Group Limited to open at HK$0.400, and during the day (based on 14 day Average True Range), to move between HK$0.368 and HK$0.422, which gives a possible trading interval of +/-HK$0.0266 (+/-6.74%) up or down from last closing price. If Pan Asia Environmental Protection Group Limited takes out the full calculated possible swing range there will be an estimated 13.48% 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$0.385 (2.53%) than the resistance at HK$0.460 (16.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Pan Asia Environmental Protection Group 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 Pan Asia Environmental Protection Group stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.611 Buy Candidate Downgraded

Predicted Opening Price for Pan Asia Environmental Protection Group Limited of Monday, May 20, 2024

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