China Renewable Energy Investment Ltd Stock Forecast

China Renewable Energy Investment Ltd stock price up more than 5.51% on Friday
(Updated on May 17, 2024)

0987.HK Signals & Forecast

The China Renewable Energy Investment Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.127 and HK$0.125. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 28.85%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Renewable Energy Investment Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.127 and HK$0.124. 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 Renewable Energy Investment Ltd finds support just below today's level at HK$0.127. If this is broken, then the next support from accumulated volume will be at HK$0.124 and HK$0.104.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0120 between high and low, or 9.84%. For the last week the stock has had daily average volatility of 8.67%.

Our recommended stop-loss: HK$0.130 (-3.24%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (0987.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect China Renewable Energy Investment Limited to open at HK$0.130, and during the day (based on 14 day Average True Range), to move between HK$0.126 and HK$0.142, which gives a possible trading interval of +/-HK$0.0076 (+/-5.66%) up or down from last closing price. If China Renewable Energy Investment Limited takes out the full calculated possible swing range there will be an estimated 11.31% 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$0.135 (0.75%) than the support at HK$0.127 (5.22%), 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 Renewable Energy Investment Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.795 Buy Candidate Upgraded

Predicted Opening Price for China Renewable Energy Investment Limited of Monday, May 20, 2024

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