China Everbright Greentech Limited Stock Forecast

China Everbright Greentech Limited stock price ended at HK$0.750 on Friday, after gaining 2.74%.
(Updated on May 17, 2024)

1257.HK Signals & Forecast

Mostly positive signals in the chart today. The China Everbright Greentech Limited 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$0.721 and HK$0.700. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 13.64%. 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). China Everbright Greentech Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for China Everbright Greentech Limited stock

China Everbright Greentech Limited finds support from accumulated volume at HK$0.730 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$0.0500 between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 5.58%.

Our recommended stop-loss: HK$0.724 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)

Trading Expectations (1257.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect China Everbright Greentech Limited to open at HK$0.740, and during the day (based on 14 day Average True Range), to move between HK$0.713 and HK$0.787, which gives a possible trading interval of +/-HK$0.0367 (+/-4.89%) up or down from last closing price. If China Everbright Greentech Limited takes out the full calculated possible swing range there will be an estimated 9.79% 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$0.730 (2.67%) than the resistance at HK$0.790 (5.33%), 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 Everbright Greentech Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.004 Buy Candidate Unchanged

Predicted Opening Price for China Everbright Greentech Limited of Monday, May 20, 2024

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