China Water Affairs Group Limited Stock Forecast
Weaker technical forecast for China Water Affairs Group Limited as stock downgraded to Buy Candidate.
(Updated on Jun 17, 2024)
The China Water Affairs Group Limited stock price fell by -3.19% on the last day (Monday, 17th Jun 2024) from HK$6.27 to HK$6.07. During the last trading day the stock fluctuated 4.12% from a day low at HK$6.07 to a day high of HK$6.32. The price has risen in 6 of the last 10 days and is up by 7.43% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 5 million shares were bought and sold for approximately HK$31.16 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 30.32% during the next 3 months and, with a 90% probability hold a price between HK$7.33 and HK$8.20 at the end of this 3-month period.
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0855.HK Signals & Forecast
The China Water Affairs Group 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$6.04 and HK$5.58. A breakdown below any of these levels will issue sell signals. 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 Friday, June 14, 2024, and so far it has fallen -3.19%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Water Affairs Group Limited stock
China Water Affairs Group Limited finds support from accumulated volume at HK$6.05 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$0.250 between high and low, or 4.12%. For the last week, the stock has had daily average volatility of 4.57%.
Our recommended stop-loss: HK$5.82 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (0855.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect China Water Affairs Group Limited to open at HK$6.15, and during the day (based on 14 day Average True Range), to move between HK$5.83 and HK$6.31, which gives a possible trading interval of +/-HK$0.236 (+/-3.88%) up or down from last closing price. If China Water Affairs Group Limited takes out the full calculated possible swing range there will be an estimated 7.77% 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$6.05 (0.33%) than the resistance at HK$6.22 (2.47%), 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 Water Affairs Group Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Water Affairs Group Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.051 Buy Candidate Downgraded
Predicted Opening Price for China Water Affairs Group Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$6.15 ( 1.37%) | HK$6.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0855.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.40 | 5.49% |
| R2 | 6.31 | 3.92% |
| R1 | 6.25 | 2.95% |
| Price | 6.07 | |
| S1 | 6.06 | -0.200% |
| S2 | 6.00 | -1.17% |
| S3 | 5.90 | -2.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 6.27 | 3.29% |
| R1 | 6.22 | 2.47% |
| Price | 6.07 | |
| S1 | 6.05 | -0.329% |
| S2 | 5.82 | -4.12% |
| S3 | 5.76 | -5.11% |
0855 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 29, 2024 | Jan 29, 2024 | May 17, 2024 | HK$0.130 | 2.18% |
| 2 | Sep 19, 2023 | Sep 19, 2023 | Nov 17, 2023 | HK$0.180 | 3.53% |
| 3 | Feb 16, 2023 | Feb 16, 2023 | Feb 16, 2023 | HK$0.160 | 2.29% |
| 4 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | HK$0.180 | 2.74% |
| 5 | Dec 16, 2021 | Dec 16, 2021 | Dec 16, 2021 | HK$0.160 | 1.86% |
FAQ
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