China Dredging Environment Protection Stock Forecast

Red day on Monday for China Dredging Environment Protection
(Updated on Jun 17, 2024)

0871.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Dredging Environment Protection stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0730 and HK$0.0758. 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 14, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Dredging Environment Protection stock

China Dredging Environment Protection finds support from accumulated volume at HK$0.0700 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 therefore the general risk is considered very 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.76%

China Dredging Environment Protection is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: HK$0.0696 (-4.66%) (This stock has low daily movements and this gives low risk. Low RSI14 is 17 which reduces the risk some. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (0871.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect China Dredging Environment Protection Holdings Limited to open at HK$0.0730, and during the day (based on 14 day Average True Range), to move between HK$0.0705 and HK$0.0755, which gives a possible trading interval of +/-HK$0.0025 (+/-3.38%) up or down from last closing price. If China Dredging Environment Protection Holdings Limited takes out the full calculated possible swing range there will be an estimated 6.77% 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$0.0750 (2.74%) than the support at HK$0.0700 (4.11%), 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 Dredging Environment Protection Holdings Limited stock A Buy?

China Dredging Environment Protection holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Dredging Environment Protection Holdings Limited of Tuesday, June 18, 2024

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