Beijing Enterprises Clean Energy Group Stock Forecast
Weaker technical forecast for Beijing Enterprises Clean Energy Group as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Beijing Enterprises Clean Energy Group stock price fell by -3.57% on the last day (Friday, 3rd May 2024) from HK$1.96 to HK$1.89. During the last trading day the stock fluctuated 3.23% from a day low at HK$1.86 to a day high of HK$1.92. The price has risen in 4 of the last 10 days but is still down by -1.56% for this period. Volume has increased on the last day by 72 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 444 thousand shares were bought and sold for approximately HK$839.54 thousand.
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 -5.64% during the next 3 months and, with a 90% probability hold a price between HK$1.67 and HK$2.16 at the end of this 3-month period.
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1250.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.00%. 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 Beijing Enterprises Clean Energy Group 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$1.94 and HK$1.95. A break-up above any of these levels will issue buy signals. Beijing Enterprises Clean Energy Group 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 Beijing Enterprises Clean Energy Group stock
Beijing Enterprises Clean Energy Group finds support from accumulated volume at HK$1.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0600 (3.23%) between high and low. For the last week, the stock has had daily average volatility of 3.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1250.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Beijing Enterprises Clean Energy Group Limited to open at HK$1.89, and during the day (based on 14 day Average True Range), to move between HK$1.81 and HK$1.97, which gives a possible trading interval of +/-HK$0.0804 (+/-4.25%) up or down from last closing price. If Beijing Enterprises Clean Energy Group Limited takes out the full calculated possible swing range there will be an estimated 8.51% 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$1.88 (0.53%) than the resistance at HK$1.92 (1.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beijing Enterprises Clean Energy Group Limited stock A Buy?
Beijing Enterprises Clean Energy Group 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.757 Sell Candidate Downgraded
Predicted Opening Price for Beijing Enterprises Clean Energy Group Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$1.89 ( 0%) | HK$1.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1250.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.95 | 3.17 % | |
| R2 | 1.93 | 1.96 % | ||
| R1 | 1.91 | 1.21 % | ||
| Current price: | 1.89 | |||
| Support | S1 | 1.87 | -1.21 % | |
| S2 | 1.85 | -1.96 % | ||
| S3 | 1.83 | -3.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.96 | 3.70 % | |
| R2 | 1.95 | 3.17 % | ||
| R1 | 1.92 | 1.59 % | ||
| Current price | 1.89 | |||
| Support | S1 | 1.88 | -0.529% | |
| S2 | 1.86 | -1.59% | ||
| S3 | 1.83 | -3.17% |
1250 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2014 | Jun 09, 2014 | Jun 27, 2014 | HK$0.0059 | 0.108% |
FAQ
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