Shunfeng International Clean Energy Ltd Stock Forecast

Red day on Thursday for Shunfeng International Clean Energy Ltd stock after losing 0%
(Updated on Jul 04, 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$0.0301 and HK$0.0280. 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 -20.00%. 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shunfeng International Clean Energy Ltd stock

Shunfeng International Clean Energy Ltd finds support from accumulated volume at HK$0.0310 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$0.0020 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 11.05%.

Our recommended stop-loss: HK$0.0301 (-5.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (1165.HK) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect Shunfeng International Clean Energy Limited to open at HK$0.0313, and during the day (based on 14 day Average True Range), to move between HK$0.0279 and HK$0.0361, which gives a possible trading interval of +/-HK$0.0041 (+/-12.69%) 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 25.37% 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$0.0330 (3.13%) than the support at HK$0.0310 (3.13%), 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 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.

Current score: 1.757 Buy Candidate Unchanged

Predicted Opening Price for Shunfeng International Clean Energy Limited of Friday, July 5, 2024

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