China Water Affairs Group Limited Stock Forecast
Volatile ride for China Water Affairs Group Limited stock price on Thursday moving between HK$5.03 and HK$5.76
(Updated on Jun 27, 2024)
The China Water Affairs Group Limited stock price fell by -11.02% on the last day (Thursday, 27th Jun 2024) from HK$5.81 to HK$5.17. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 14.51% from a day low at HK$5.03 to a day high of HK$5.76. The price has been going up and down for this period, and there has been a -16.88% loss for the last 2 weeks. Volume has increased on the last day by 13 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 million shares were bought and sold for approximately HK$100.23 million.
Given the current short-term trend, the stock is expected to rise 33.52% during the next 3 months and, with a 90% probability hold a price between HK$6.90 and HK$8.64 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0855.HK Signals & Forecast
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. The China Water Affairs Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$6.00 and HK$5.82. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -18.71%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Water Affairs Group Limited stock
China Water Affairs Group Limited finds support from accumulated volume at HK$5.09 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$0.730 between high and low, or 14.51%. For the last week, the stock has had daily average volatility of 6.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0855.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect China Water Affairs Group Limited to open at HK$5.32, and during the day (based on 14 day Average True Range), to move between HK$4.89 and HK$5.45, which gives a possible trading interval of +/-HK$0.278 (+/-5.37%) 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 10.74% 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$5.09 (1.55%) than the resistance at HK$5.76 (11.41%), 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?
The China Water Affairs Group Limited stock holds several negative signals and despite the positive trend, we believe China Water Affairs Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.875 Strong Sell Candidate Downgraded
Predicted Opening Price for China Water Affairs Group Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$5.32 ( 2.90%) | HK$5.17 |
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 | 6.05 | 17.02% |
| R2 | 5.77 | 11.63% |
| R1 | 5.60 | 8.30% |
| Price | 5.17 | |
| S1 | 5.04 | -2.49% |
| S2 | 4.87 | -5.82% |
| S3 | 4.59 | -11.22% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.36 | 23.02% |
| R2 | 6.05 | 17.02% |
| R1 | 5.76 | 11.41% |
| Price | 5.17 | |
| S1 | 5.09 | -1.55% |
| S2 | 4.88 | -5.61% |
| S3 | 4.87 | -5.80% |
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
Click here for our free guide on how to buy China Water Affairs Group Limited Stock.
