Chaoda Modern Agriculture (Holdings) Ltd Stock Forecast

High volatility in Chaoda Modern Agriculture (Holdings) Ltd stock price on Wednesday which ended trading at HK$0.0330
(Updated on May 22, 2024)

0682.HK Signals & Forecast

There are mixed signals in the stock today. The Chaoda Modern Agriculture (Holdings) Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.0337. On a fall, the stock will find some support from the short-term average at HK$0.0311. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -17.50%. 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). Chaoda Modern Agriculture (Holdings) Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Chaoda Modern Agriculture (Holdings) Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0300 and HK$0.0270. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chaoda Modern Agriculture (Holdings) Ltd finds support just below today's level at HK$0.0300. If this is broken, then the next support from accumulated volume will be at HK$0.0270 and HK$0.0250.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0030 between high and low, or 10.00%. For the last week, the stock has had daily average volatility of 7.52%.

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

Trading Expectations (0682.HK) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Chaoda Modern Agriculture (Holdings) Limited to open at HK$0.0320, and during the day (based on 14 day Average True Range), to move between HK$0.0299 and HK$0.0361, which gives a possible trading interval of +/-HK$0.0031 (+/-9.31%) up or down from last closing price. If Chaoda Modern Agriculture (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 18.63% 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$0.0360 (9.09%) than the support at HK$0.0300 (9.09%), 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 Chaoda Modern Agriculture (Holdings) Limited stock A Buy?

Chaoda Modern Agriculture (Holdings) Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -3.379 Sell Candidate Upgraded

Predicted Opening Price for Chaoda Modern Agriculture (Holdings) Limited of Thursday, May 23, 2024

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