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AI Analysis of 0975.HK
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Mongolian Mining Corporation stock price up 1.00% on Thursday
(Updated on Mar 28, 2024)

Sell candidate since Mar 11, 2024 Loss -7.34% PDF

The Mongolian Mining Corporation stock price gained 1.00% on the last trading day (Thursday, 28th Mar 2024), rising from HK$9.00 to HK$9.09. During the last trading day the stock fluctuated 4.97% from a day low at HK$8.66 to a day high of HK$9.09. The price has risen in 6 of the last 10 days and is up by 3.65% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately HK$35.07 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$8.10 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 22.16% during the next 3 months and, with a 90% probability hold a price between HK$9.90 and HK$18.21 at the end of this 3-month period.

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0975.HK Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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 Mongolian Mining Corporation 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$10.80. On a fall, the stock will find some support from the short-term average at HK$8.94. 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. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -35.99%. 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 Mongolian Mining Corporation stock

Mongolian Mining Corporation finds support from accumulated volume at HK$8.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.430 between high and low, or 4.97%. For the last week, the stock has had daily average volatility of 6.94%.

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

Trading Expectations (0975.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Mongolian Mining Corporation to open at HK$8.95, and during the day (based on 14 day Average True Range), to move between HK$8.31 and HK$9.87, which gives a possible trading interval of +/-HK$0.780 (+/-8.59%) up or down from last closing price. If Mongolian Mining Corporation takes out the full calculated possible swing range there will be an estimated 17.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$8.98 (1.21%) than the resistance at HK$9.40 (3.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mongolian Mining Corporation stock A Buy?

The Mongolian Mining Corporation stock holds several negative signals and despite the positive trend, we believe Mongolian Mining Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.229 Sell Candidate Unchanged

Predicted Opening Price for Mongolian Mining Corporation of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
HK$8.95 ( 1.58%) HK$9.09

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

Trading levels for 0975.HK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 9.38 3.15 %
R2 9.21 1.35 %
R1 9.11 0.230 %
Current price: 9.09
Support S1 8.78 -3.38 %
S2 8.68 -4.50 %
S3 8.52 -6.31 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 10.78 18.59 %
R2 9.81 7.92 %
R1 9.40 3.41 %
Current price 9.09
Support S1 8.98 -1.21%
S2 8.40 -7.59%
S3 7.75 -14.74%

FAQ

What is the symbol for Mongolian Mining Corporation Stock and on which exchange is it traded?
The symbol for Mongolian Mining Corporation is 0975.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell Mongolian Mining Corporation Stock?
The Mongolian Mining Corporation stock holds several negative signals and despite the positive trend, we believe Mongolian Mining Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

How to buy Mongolian Mining Corporation Stock?
Mongolian Mining Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Mongolian Mining Corporation Stock.

What's the current price of Mongolian Mining Corporation Stock?
As of the end of day on the 2024-03-28, the price of an Mongolian Mining Corporation (0975.HK) share was HK$9.09.

What is the 52-week high and low for Mongolian Mining Corporation Stock?
The 52-week high for Mongolian Mining Corporation Stock is HK$14.78 and the 52-week low is HK$1.80.

What is the market capitalization of Mongolian Mining Corporation Stock?
As of the 2024-03-28, the market capitalization of Mongolian Mining Corporation is 9.799B.
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About Mongolian Mining Corporation

Mongolian Mining Mongolian Mining Corporation engages in the mining, processing, transportation, and sale of coking coal products in China. The company owns and operates the Ukhaa Khudag and the Baruun Naran open-pit coking coal mines located in South Gobi province of Mongolia. It is also involved in the railway project management, airport operation and management, water exploration and supply management, and power supply project management activities; and tradin... 0975.HK Profile

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