Tianneng Power International Limited Stock Forecast

Tianneng Power International Limited stock upgraded to Buy Candidate.
(Updated on May 10, 2024)

0819.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 29, 2024, and so far it has risen 6.64%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tianneng Power International Limited 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$6.47. On a fall, the stock will find some support from the short-term average at HK$6.23. 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.

Support, Risk & Stop-loss for Tianneng Power International Limited stock

Tianneng Power International Limited finds support from accumulated volume at HK$6.24 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$0.120 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 2.35%.

Our recommended stop-loss: HK$6.18 (-3.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (0819.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Tianneng Power International Limited to open at HK$6.39, and during the day (based on 14 day Average True Range), to move between HK$6.25 and HK$6.59, which gives a possible trading interval of +/-HK$0.171 (+/-2.66%) up or down from last closing price. If Tianneng Power International Limited takes out the full calculated possible swing range there will be an estimated 5.31% 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$6.54 (1.87%) than the support at HK$6.24 (2.80%), 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 Tianneng Power International Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.603 Buy Candidate Upgraded

Predicted Opening Price for Tianneng Power International Limited of Monday, May 13, 2024

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