Xinchen China Power Holdings Limited Stock Forecast
Xinchen China Power Holdings Limited stock price up 0.92% on Friday
(Updated on May 24, 2024)
The Xinchen China Power Holdings Limited stock price gained 0.92% on the last trading day (Friday, 24th May 2024), rising from HK$0.218 to HK$0.220. During the last trading day the stock fluctuated 1.38% from a day low at HK$0.217 to a day high of HK$0.220. The price has fallen in 5 of the last 10 days and is down by -7.56% for this period. Volume fell on the last day by -682 thousand shares and in total, 316 thousand shares were bought and sold for approximately HK$69.52 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -19.98% during the next 3 months and, with a 90% probability hold a price between HK$0.156 and HK$0.215 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1148.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 0.92%. 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. The Xinchen China Power Holdings 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$0.234 and HK$0.236. A break-up above any of these levels will issue buy signals. 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 Xinchen China Power Holdings Limited stock
Xinchen China Power Holdings Limited finds support from accumulated volume at HK$0.218 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0030 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 6.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1148.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Xinchen China Power Holdings Limited to open at HK$0.219, and during the day (based on 14 day Average True Range), to move between HK$0.204 and HK$0.236, which gives a possible trading interval of +/-HK$0.0161 (+/-7.33%) up or down from last closing price. If Xinchen China Power Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.66% 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$0.221 (0.45%) than the support at HK$0.218 (0.91%), 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 Xinchen China Power Holdings Limited stock A Buy?
Xinchen China Power Holdings 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.
Current score: -2.682 Sell Candidate Unchanged
Predicted Opening Price for Xinchen China Power Holdings Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.219 ( 0.455%) | HK$0.220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1148.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.222 | 0.91 % | |
| R2 | 0.221 | 0.388 % | ||
| R1 | 0.220 | 0.0664 % | ||
| Current price: | 0.220 | |||
| Support | S1 | 0.218 | -0.98 % | |
| S2 | 0.217 | -1.30 % | ||
| S3 | 0.216 | -1.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.250 | 13.64 % | |
| R2 | 0.240 | 9.09 % | ||
| R1 | 0.221 | 0.455 % | ||
| Current price | 0.220 | |||
| Support | S1 | 0.218 | -0.91% | |
| S2 | 0.216 | -1.82% | ||
| S3 | 0 | . |
FAQ
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