Chu Kong Shipping Enterprises (Group) Co Stock Forecast

Red day on Thursday for Chu Kong Shipping Enterprises (Group) Co stock after losing 0%
(Updated on Jun 27, 2024)

0560.HK Signals & Forecast

There are mixed signals in the stock today. The Chu Kong Shipping Enterprises (Group) Co 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$0.764 and HK$0.791. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Chu Kong Shipping Enterprises (Group) Co stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 0.80%

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

Trading Expectations (0560.HK) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Chu Kong Shipping Enterprises (Group) Company Limited to open at HK$0.760, and during the day (based on 14 day Average True Range), to move between HK$0.746 and HK$0.774, which gives a possible trading interval of +/-HK$0.0145 (+/-1.91%) up or down from last closing price. If Chu Kong Shipping Enterprises (Group) Company Limited takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ HK$0.770, some HK$0.0100 (1.32%) from the current price of HK$0.760, our system finds the risk reward not very attractive.

Is Chu Kong Shipping Enterprises (Group) Company Limited stock A Buy?

Chu Kong Shipping Enterprises (Group) Co 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.

Current score: -1.269 Sell Candidate Unchanged

Predicted Opening Price for Chu Kong Shipping Enterprises (Group) Company Limited of Friday, June 28, 2024

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