Green Energy Group Limited Stock Forecast

Big movements in Green Energy Group Limited stock price on Friday moving 10.07% between high and low
(Updated on Jun 28, 2024)

0979.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 10.07%. Further rise is indicated until a new top pivot has been found. Green Energy Group Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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 Green Energy Group Limited 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$0.163 and HK$0.189. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Green Energy Group Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.140 and HK$0.139. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$0.139 may give a huge drop in the stock price.

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$0.0140 between high and low, or 10.07%. For the last week, the stock has had daily average volatility of 7.55%.

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

Trading Expectations (0979.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Green Energy Group Limited to open at HK$0.148, and during the day (based on 14 day Average True Range), to move between HK$0.139 and HK$0.167, which gives a possible trading interval of +/-HK$0.0142 (+/-9.25%) up or down from last closing price. If Green Energy Group Limited takes out the full calculated possible swing range there will be an estimated 18.50% 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$0.155 (1.31%) than the support at HK$0.140 (8.50%), 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 Green Energy Group Limited stock A Buy?

Green Energy Group Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.666 Sell Candidate Upgraded

Predicted Opening Price for Green Energy Group Limited of Tuesday, July 2, 2024

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