CIMC Vehicles Group Co Ltd Stock Forecast

Red day on Monday for CIMC Vehicles Group Co Ltd stock after losing 0%
(Updated on Apr 22, 2024)

1839.HK Signals & Forecast

The CIMC Vehicles Group Co 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$7.39 and HK$7.26. 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 Friday, April 19, 2024, and so far it has fallen 0%. 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 stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CIMC Vehicles Group Co Ltd stock

CIMC Vehicles Group Co Ltd finds support from accumulated volume at HK$7.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.732%

Our recommended stop-loss: HK$7.15 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (1839.HK) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect CIMC Vehicles Group Co Ltd to open at HK$7.42, and during the day (based on 14 day Average True Range), to move between HK$7.37 and HK$7.47, which gives a possible trading interval of +/-HK$0.0489 (+/-0.66%) up or down from last closing price. If CIMC Vehicles Group Co Ltd takes out the full calculated possible swing range there will be an estimated 1.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$7.29, some HK$0.130 (1.75%) from the current price of HK$7.42, our system finds the risk reward attractive.

Is CIMC Vehicles Group Co Ltd 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 CIMC Vehicles Group Co Ltd stock to perform well in the short-term.

Current score: 1.788 Buy Candidate Unchanged

Predicted Opening Price for CIMC Vehicles Group Co Ltd of Tuesday, April 23, 2024

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