China Dredging Environment Protection Stock Forecast
Volatile ride for China Dredging Environment Protection stock price on Monday moving between HK$0.0740 and HK$0.0900
(Updated on Jun 24, 2024)
No changes to the price of China Dredging Environment Protection stock on the last trading day (Monday, 24th Jun 2024). During the last trading day the stock fluctuated 21.62% from a day low at HK$0.0740 to a day high of HK$0.0900. The price has been going up and down for this period, and there has been a -1.33% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0700 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.70% during the next 3 months and, with a 90% probability hold a price between HK$0.0761 and HK$0.103 at the end of this 3-month period.
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0871.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 7.25%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Dredging Environment Protection 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$0.0765. On a fall, the stock will find some support from the short-term average at HK$0.0733. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for China Dredging Environment Protection stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0700 and HK$0.0690. 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 Dredging Environment Protection finds support just below today's level at HK$0.0700. If this is broken, then the next support from accumulated volume will be at HK$0.0690 and HK$0.0680.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0160 between high and low, or 21.62%. For the last week, the stock has had daily average volatility of 4.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0871.HK) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect China Dredging Environment Protection Holdings Limited to open at HK$0.0793, and during the day (based on 14 day Average True Range), to move between HK$0.0710 and HK$0.0770, which gives a possible trading interval of +/-HK$0.0030 (+/-4.08%) 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 8.17% 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 (1.35%) than the support at HK$0.0700 (5.41%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.957 Sell Candidate Downgraded
Predicted Opening Price for China Dredging Environment Protection Holdings Limited of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
HK$0.0793 ( 7.21%) | HK$0.0740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0871.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0953 | 28.83% |
R2 | 0.0892 | 20.57% |
R1 | 0.0854 | 15.47% |
Price | 0.0740 | |
S1 | 0.0732 | -1.05% |
S2 | 0.0694 | -6.15% |
S3 | 0.0633 | -14.41% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0880 | 18.92% |
R2 | 0.0800 | 8.11% |
R1 | 0.0750 | 1.35% |
Price | 0.0740 | |
S1 | 0.0700 | -5.41% |
S2 | 0.0690 | -6.76% |
S3 | 0.0680 | -8.11% |
0871 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 18, 2012 | Sep 18, 2012 | Sep 18, 2012 | HK$0.0400 | 1.93% |
FAQ
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