CRCC High-Tech Equipment Corp Ltd Stock Forecast

Weaker technical forecast for CRCC High-Tech Equipment Corp Ltd as stock downgraded to Hold/Accumulate.
(Updated on Jun 20, 2024)

1786.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CRCC High-Tech Equipment Corp Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.721. On a fall, the stock will find some support from the short-term average at HK$0.693. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 CRCC High-Tech Equipment Corp Ltd stock

CRCC High-Tech Equipment Corp Ltd finds support from accumulated volume at HK$0.690 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$0.0200 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 2.37%.

Our recommended stop-loss: HK$0.657 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (1786.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect CRCC High-Tech Equipment Corporation Limited to open at HK$0.693, and during the day (based on 14 day Average True Range), to move between HK$0.680 and HK$0.720, which gives a possible trading interval of +/-HK$0.0205 (+/-2.92%) up or down from last closing price. If CRCC High-Tech Equipment Corporation Limited takes out the full calculated possible swing range there will be an estimated 5.85% 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$0.710 (1.43%) than the support at HK$0.690 (1.43%), 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 CRCC High-Tech Equipment Corporation Limited stock A Buy?

CRCC High-Tech Equipment Corp Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.022 Hold/Accumulate Downgraded

Predicted Opening Price for CRCC High-Tech Equipment Corporation Limited of Friday, June 21, 2024

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