China Risun Group Limited Stock Forecast

China Risun Group Limited stock price up 0.327% on Tuesday
(Updated on May 28, 2024)

1907.HK Signals & Forecast

There are mixed signals in the stock today. The China Risun Group Limited 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$3.10. On a fall, the stock will find some support from the short-term average at HK$3.04. 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). A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 1.99%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for China Risun Group Limited stock

China Risun Group Limited finds support from accumulated volume at HK$3.04 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$0.0200 between high and low, or 0.654%. For the last week, the stock has had daily average volatility of 1.60%.

Our recommended stop-loss: HK$2.90 (-5.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (1907.HK) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect China Risun Group Limited to open at HK$3.07, and during the day (based on 14 day Average True Range), to move between HK$3.01 and HK$3.13, which gives a possible trading interval of +/-HK$0.0642 (+/-2.09%) up or down from last closing price. If China Risun Group Limited takes out the full calculated possible swing range there will be an estimated 4.18% 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$3.08 (0.33%) than the support at HK$3.04 (0.98%), 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 China Risun Group Limited stock A Buy?

China Risun Group Limited 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.

Current score: 0.235 Hold/Accumulate Unchanged

Predicted Opening Price for China Risun Group Limited of Wednesday, May 29, 2024

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