China Datang Corp Renewable Power Co., Stock Forecast
Red day on Wednesday for China Datang Corp Renewable Power Co., stock after losing 0%
(Updated on Apr 17, 2024)
No changes to the price of China Datang Corp Renewable Power Co., stock on the last trading day (Wednesday, 17th Apr 2024). During the last trading day the stock fluctuated 3.14% from a day low at HK$1.59 to a day high of HK$1.64. The price has fallen in 4 of the last 10 days but is still up by 2.53% over the past 2 weeks.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$1.56 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Datang Corp Renewable Power Co., stock with a 90% probability to be traded between HK$1.54 and HK$1.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
1798.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 3.85%. 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 China Datang Corp Renewable Power Co., 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$1.65 and HK$1.73. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for China Datang Corp Renewable Power Co., stock
China Datang Corp Renewable Power Co., finds support from accumulated volume at HK$1.60 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 3.14%. For the last week, the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1798.HK) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect China Datang Corporation Renewable Power Co., Limited to open at HK$1.62, and during the day (based on 14 day Average True Range), to move between HK$1.56 and HK$1.68, which gives a possible trading interval of +/-HK$0.0649 (+/-4.01%) up or down from last closing price. If China Datang Corporation Renewable Power Co., Limited takes out the full calculated possible swing range there will be an estimated 8.01% 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$1.60 (1.23%) than the resistance at HK$1.68 (3.70%), 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 Datang Corporation Renewable Power Co., Limited stock A Buy?
China Datang Corp Renewable Power Co., holds several negative signals and is within a 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.
Current score: -2.628 Sell Candidate Unchanged
Predicted Opening Price for China Datang Corporation Renewable Power Co., Limited of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
HK$1.62 ( 0.206%) | HK$1.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1798.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.67 | 2.88 % | |
R2 | 1.65 | 1.70 % | ||
R1 | 1.64 | 0.97 % | ||
Current price: | 1.62 | |||
Support | S1 | 1.60 | -1.38 % | |
S2 | 1.59 | -2.11 % | ||
S3 | 1.57 | -3.29 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.83 | 12.96 % | |
R2 | 1.70 | 4.94 % | ||
R1 | 1.68 | 3.70 % | ||
Current price | 1.62 | |||
Support | S1 | 1.60 | -1.23% | |
S2 | 1.58 | -2.47% | ||
S3 | 1.52 | -6.17% |
1798 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | HK$0.0540 | 2.17% |
2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.0350 | 1.37% |
3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | HK$0.0360 | 1.51% |
4 | Mar 30, 2020 | Jul 07, 2020 | Aug 28, 2020 | HK$0.0330 | 3.00% |
5 | Mar 27, 2019 | Jul 03, 2019 | Aug 20, 2019 | HK$0.0230 | 2.95% |
FAQ
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