China Rare Earth Holdings Limited Stock Forecast
China Rare Earth Holdings Limited stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The China Rare Earth Holdings Limited stock price gained 2.82% on the last trading day (Friday, 3rd May 2024), rising from HK$0.355 to HK$0.365. During the last trading day the stock fluctuated 2.82% from a day low at HK$0.355 to a day high of HK$0.365. The price has risen in 5 of the last 10 days and is up by 8.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately HK$1.15 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.26% during the next 3 months and, with a 90% probability hold a price between HK$0.408 and HK$0.493 at the end of this 3-month period.
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0769.HK Signals & Forecast
The China Rare Earth Holdings Limited 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$0.355 and HK$0.349. A breakdown below any of these levels will issue sell signals. China Rare Earth Holdings Limited 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. 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 Tuesday, April 09, 2024, and so far it has fallen -6.41%. 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 Rare Earth Holdings Limited stock
China Rare Earth Holdings Limited finds support from accumulated volume at HK$0.355 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: HK$0.349 (-4.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (0769.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Rare Earth Holdings Limited to open at HK$0.362, and during the day (based on 14 day Average True Range), to move between HK$0.351 and HK$0.379, which gives a possible trading interval of +/-HK$0.0141 (+/-3.88%) up or down from last closing price. If China Rare Earth Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.75% 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$0.370 (1.37%) than the support at HK$0.355 (2.74%), 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 Rare Earth Holdings Limited stock A Buy?
China Rare Earth Holdings Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.381 Strong Buy Candidate Upgraded
Predicted Opening Price for China Rare Earth Holdings Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.362 ( 0.91%) | HK$0.365 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0769.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.372 | 1.83 % | |
| R2 | 0.368 | 0.780 % | ||
| R1 | 0.365 | 0.133 % | ||
| Current price: | 0.365 | |||
| Support | S1 | 0.358 | -1.96 % | |
| S2 | 0.355 | -2.61 % | ||
| S3 | 0.352 | -3.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.390 | 6.85 % | ||
| R1 | 0.370 | 1.37 % | ||
| Current price | 0.365 | |||
| Support | S1 | 0.355 | -2.74% | |
| S2 | 0.350 | -4.11% | ||
| S3 | 0.310 | -15.07% |
0769 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2012 | Jun 13, 2012 | Jun 13, 2012 | HK$0.0170 | 0.99% |
| 2 | Oct 03, 2008 | Oct 03, 2008 | Oct 03, 2008 | HK$0.0085 | 1.16% |
| 3 | May 23, 2008 | May 23, 2008 | May 23, 2008 | HK$0.0341 | 2.01% |
| 4 | Oct 02, 2007 | Oct 02, 2007 | Oct 02, 2007 | HK$0.0085 | 0.391% |
| 5 | May 25, 2007 | May 25, 2007 | May 25, 2007 | HK$0.0341 | 1.63% |
FAQ
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