Chaowei Power Holdings Limited Stock Forecast

Red day on Thursday for Chaowei Power Holdings Limited stock after losing 0.694%
(Updated on Jun 20, 2024)

0951.HK Signals & Forecast

The Chaowei Power Holdings Limited 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$1.43. On a fall, the stock will find some support from the long-term average at approximately HK$1.43. 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. 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 Thursday, June 06, 2024, and so far it has fallen -2.72%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Chaowei Power Holdings Limited stock

Chaowei Power Holdings Limited finds support from accumulated volume at HK$1.40 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$0.0400 between high and low, or 2.82%. For the last week the stock has had daily average volatility of 2.27%

Our recommended stop-loss: HK$1.35 (-5.56%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 48 days ago.)

Trading Expectations (0951.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Chaowei Power Holdings Limited to open at HK$1.44, and during the day (based on 14 day Average True Range), to move between HK$1.40 and HK$1.46, which gives a possible trading interval of +/-HK$0.0342 (+/-2.39%) up or down from last closing price. If Chaowei Power Holdings Limited takes out the full calculated possible swing range there will be an estimated 4.79% 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$1.44 (0.70%) than the support at HK$1.40 (2.10%), 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 Chaowei Power Holdings Limited stock A Buy?

Chaowei Power Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.652 Hold/Accumulate Unchanged

Predicted Opening Price for Chaowei Power Holdings Limited of Friday, June 21, 2024

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