China Qinfa Group Limited Stock Forecast

Stronger technical forecast for China Qinfa Group Limited stock price after Friday trading.
(Updated on May 17, 2024)

0866.HK Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and 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 China Qinfa 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$0.611 and HK$0.603. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -15.94%. 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 Qinfa Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.540 and HK$0.530. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Qinfa Group Limited finds support just below today's level at HK$0.540. If this is broken, then the next support from accumulated volume will be at HK$0.530 and HK$0.500.

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$0.0400 between high and low, or 7.41%. For the last week, the stock has had daily average volatility of 4.49%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0866.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect China Qinfa Group Limited to open at HK$0.567, and during the day (based on 14 day Average True Range), to move between HK$0.543 and HK$0.617, which gives a possible trading interval of +/-HK$0.0370 (+/-6.38%) up or down from last closing price. If China Qinfa Group Limited takes out the full calculated possible swing range there will be an estimated 12.76% 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$0.600 (3.45%) than the support at HK$0.540 (6.90%), 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 Qinfa Group Limited stock A Buy?

The China Qinfa Group Limited stock holds several negative signals and despite the positive trend, we believe China Qinfa Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.307 Sell Candidate Upgraded

Predicted Opening Price for China Qinfa Group Limited of Monday, May 20, 2024

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