Tibet Water Resources Ltd. Stock Forecast

Tibet Water Resources Ltd. stock downgraded to Buy Candidate
(Updated on May 31, 2024)

1115.HK Signals & Forecast

The Tibet Water Resources 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$0.302 and HK$0.276. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 30, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for Tibet Water Resources Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.290 and HK$0.245. 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, Tibet Water Resources Ltd. finds support just below today's level at HK$0.290. If this is broken, then the next support from accumulated volume will be at HK$0.245 and HK$0.241.

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$0.0100 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 7.77%.

Our recommended stop-loss: HK$0.299 (-3.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 38 days ago.)

Trading Expectations (1115.HK) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Tibet Water Resources Ltd. to open at HK$0.313, and during the day (based on 14 day Average True Range), to move between HK$0.286 and HK$0.334, which gives a possible trading interval of +/-HK$0.0243 (+/-7.83%) up or down from last closing price. If Tibet Water Resources Ltd. takes out the full calculated possible swing range there will be an estimated 15.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$0.290, some HK$0.0200 (6.45%) from the current price of HK$0.310, our system finds the risk reward attractive.

Is Tibet Water Resources Ltd. 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 Tibet Water Resources Ltd. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.815 Buy Candidate Downgraded

Predicted Opening Price for Tibet Water Resources Ltd. of Monday, June 3, 2024

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