China Nuclear Energy Technology Corp Ltd Stock Forecast

China Nuclear Energy Technology Corp Ltd stock price ended at HK$0.320 on Wednesday, after losing 0%.
(Updated on Jun 26, 2024)

0611.HK Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Nuclear Energy Technology Corp Ltd 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$0.320 and HK$0.324. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -3.03%. 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).

Support, Risk & Stop-loss for China Nuclear Energy Technology Corp Ltd stock

China Nuclear Energy Technology Corp Ltd finds support from accumulated volume at HK$0.315 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0050 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 0.94%.

Our recommended stop-loss: HK$0.302 (-5.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)

Trading Expectations (0611.HK) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect China Nuclear Energy Technology Corporation Limited to open at HK$0.322, and during the day (based on 14 day Average True Range), to move between HK$0.315 and HK$0.325, which gives a possible trading interval of +/-HK$0.0049 (+/-1.54%) up or down from last closing price. If China Nuclear Energy Technology Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.09% 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$0.325 (1.56%) than the support at HK$0.315 (1.56%), 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 China Nuclear Energy Technology Corporation Limited stock A Buy?

China Nuclear Energy Technology Corp Ltd 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: -0.230 Hold/Accumulate Unchanged

Predicted Opening Price for China Nuclear Energy Technology Corporation Limited of Thursday, June 27, 2024

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