China Modern Dairy Holdings Ltd. Stock Forecast

Red day on Thursday for China Modern Dairy Holdings Ltd.
(Updated on Jun 20, 2024)

1117.HK Signals & Forecast

The volume rose on the last day while price remained unchanged. This may be an early warning and 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 China Modern Dairy Holdings Ltd. 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$0.704 and HK$0.723. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -13.58%. 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 China Modern Dairy Holdings Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.660 and HK$0.650. 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 Modern Dairy Holdings Ltd. finds support just below today's level at HK$0.660. If this is broken, then the next support from accumulated volume will be at HK$0.650 and HK$0.630.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 2.60%.

China Modern Dairy Holdings Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (1117.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect China Modern Dairy Holdings Ltd. to open at HK$0.697, and during the day (based on 14 day Average True Range), to move between HK$0.672 and HK$0.728, which gives a possible trading interval of +/-HK$0.0275 (+/-3.94%) up or down from last closing price. If China Modern Dairy Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 7.87% 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$0.710 (1.43%) than the support at HK$0.660 (5.71%), 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 Modern Dairy Holdings Ltd. stock A Buy?

The China Modern Dairy Holdings Ltd. stock holds several negative signals and despite the positive trend, we believe China Modern Dairy Holdings Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.301 Sell Candidate Unchanged

Predicted Opening Price for China Modern Dairy Holdings Ltd. of Friday, June 21, 2024

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