Shunfeng International Clean Energy Ltd Stock Forecast

Big movements in Shunfeng International Clean Energy Ltd stock price on Tuesday moving 16.13% between high and low
(Updated on Jun 18, 2024)

1165.HK Signals & Forecast

The Shunfeng International Clean Energy 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$0.0297 and HK$0.0251. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 29, 2024, and so far it has fallen -17.50%. 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). 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 Shunfeng International Clean Energy Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0300 and HK$0.0290. 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, Shunfeng International Clean Energy Ltd finds support just below today's level at HK$0.0300. If this is broken, then the next support from accumulated volume will be at HK$0.0290 and HK$0.0260.

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0050 between high and low, or 16.13%. For the last week the stock has had daily average volatility of 15.18%.

Our recommended stop-loss: HK$0.0311 (-5.74%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (1165.HK) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Shunfeng International Clean Energy Limited to open at HK$0.0333, and during the day (based on 14 day Average True Range), to move between HK$0.0288 and HK$0.0372, which gives a possible trading interval of +/-HK$0.0042 (+/-12.80%) up or down from last closing price. If Shunfeng International Clean Energy Limited takes out the full calculated possible swing range there will be an estimated 25.60% 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$0.0300 (9.09%) than the resistance at HK$0.0400 (21.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shunfeng International Clean Energy Limited 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 Shunfeng International Clean Energy 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: 1.609 Buy Candidate Downgraded

Predicted Opening Price for Shunfeng International Clean Energy Limited of Wednesday, June 19, 2024

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