China Environmental Resources Group Ltd Stock Forecast

Red day on Thursday for China Environmental Resources Group Ltd stock after losing 1.00%
(Updated on Jul 04, 2024)

1130.HK Signals & Forecast

The China Environmental Resources Group 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$0.196 and HK$0.191. 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 02, 2024, and so far it has fallen -19.18%. Further fall is indicated until a new bottom pivot has been found. China Environmental Resources Group Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for China Environmental Resources Group Ltd stock

China Environmental Resources Group Ltd finds support from accumulated volume at HK$0.192 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.0120 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 2.05%.

Our recommended stop-loss: HK$0.189 (-4.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a sell signal from a pivot top found 27 days ago.)

Trading Expectations (1130.HK) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect China Environmental Resources Group Limited to open at HK$0.202, and during the day (based on 14 day Average True Range), to move between HK$0.187 and HK$0.209, which gives a possible trading interval of +/-HK$0.0108 (+/-5.44%) up or down from last closing price. If China Environmental Resources Group Limited takes out the full calculated possible swing range there will be an estimated 10.89% 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$0.192 (3.03%) than the resistance at HK$0.209 (5.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Environmental Resources Group Limited stock A Buy?

China Environmental Resources Group Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Environmental Resources Group Limited of Friday, July 5, 2024

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