DeTai New Energy Group Limited Stock Forecast

DeTai New Energy Group Limited stock downgraded to Sell Candidate
(Updated on Jun 19, 2024)

0559.HK Signals & Forecast

There are few to no technical positive signals at the moment. The DeTai New Energy Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0114 and HK$0.0119. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. 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 DeTai New Energy Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0100. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.

In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 9.82%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0559.HK) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect DeTai New Energy Group Limited to open at HK$0.0110, and during the day (based on 14 day Average True Range), to move between HK$0.0101 and HK$0.0119, which gives a possible trading interval of +/-HK$0.0009 (+/-8.49%) up or down from last closing price. If DeTai New Energy Group Limited takes out the full calculated possible swing range there will be an estimated 16.97% 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$0.0100 (9.09%) than the resistance at HK$0.0120 (9.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DeTai New Energy Group Limited stock A Buy?

The DeTai New Energy Group Limited stock holds several negative signals and despite the positive trend, we believe DeTai New Energy Group Limited will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -1.778 Sell Candidate Downgraded

Predicted Opening Price for DeTai New Energy Group Limited of Thursday, June 20, 2024

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