China Vanadium Titano-Magnetite Mining Stock Forecast

High volatility in China Vanadium Titano-Magnetite Mining stock price on Friday which ended trading at HK$0.0760
(Updated on May 31, 2024)

0893.HK Signals & Forecast

The China Vanadium Titano-Magnetite Mining stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.0817. On a fall, the stock will find some support from the long-term average at approximately HK$0.0646. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -28.30%. Further fall is indicated until a new bottom pivot has been found. China Vanadium Titano-Magnetite Mining gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for China Vanadium Titano-Magnetite Mining stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0640 and HK$0.0590. 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 Vanadium Titano-Magnetite Mining finds support just below today's level at HK$0.0640. If this is broken, then the next support from accumulated volume will be at HK$0.0590 and HK$0.0580.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0110 between high and low, or 15.71%. For the last week, the stock has had daily average volatility of 15.25%.

Our recommended stop-loss: HK$0.0723 (-4.84%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)

Trading Expectations (0893.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect China Vanadium Titano-Magnetite Mining Company Limited to open at HK$0.0757, and during the day (based on 14 day Average True Range), to move between HK$0.0632 and HK$0.0888, which gives a possible trading interval of +/-HK$0.0128 (+/-16.91%) up or down from last closing price. If China Vanadium Titano-Magnetite Mining Company Limited takes out the full calculated possible swing range there will be an estimated 33.81% 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$0.0840 (10.53%) than the support at HK$0.0640 (15.79%), 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 Vanadium Titano-Magnetite Mining Company 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 Vanadium Titano-Magnetite Mining stock to perform well in the short-term.

Current score: 2.669 Buy Candidate Unchanged

Predicted Opening Price for China Vanadium Titano-Magnetite Mining Company Limited of Monday, June 3, 2024

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