China Electronics Optics Valley Union Stock Forecast

China Electronics Optics Valley Union stock downgraded to Hold/Accumulate
(Updated on May 24, 2024)

0798.HK Signals & Forecast

The China Electronics Optics Valley Union 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$0.326 and HK$0.322. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.20%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Electronics Optics Valley Union stock

China Electronics Optics Valley Union finds support from accumulated volume at HK$0.325 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 controlled movements and therefore the general risk is considered 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$0.0100 between high and low, or 3.13%. For the last week the stock has had daily average volatility of 0.93%.

Our recommended stop-loss: HK$0.319 (-3.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (0798.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect China Electronics Optics Valley Union Holding Company Limited to open at HK$0.327, and during the day (based on 14 day Average True Range), to move between HK$0.323 and HK$0.337, which gives a possible trading interval of +/-HK$0.0065 (+/-1.97%) up or down from last closing price. If China Electronics Optics Valley Union Holding Company Limited takes out the full calculated possible swing range there will be an estimated 3.94% 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$0.325 (1.52%) than the resistance at HK$0.345 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Electronics Optics Valley Union Holding Company Limited stock A Buy?

China Electronics Optics Valley Union holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.833 Hold/Accumulate Downgraded

Predicted Opening Price for China Electronics Optics Valley Union Holding Company Limited of Monday, May 27, 2024

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