China Boqi Environmental (Holding) Co., Stock Forecast

China Boqi Environmental (Holding) Co., stock price up 1.37% on Friday
(Updated on Jun 14, 2024)

2377.HK Signals & Forecast

The China Boqi Environmental (Holding) Co., 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$0.714 and HK$0.698. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). China Boqi Environmental (Holding) Co., 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. The very low volume increases the risk and reduces the other technical signals issued. 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, May 03, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for China Boqi Environmental (Holding) Co., stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.700 and HK$0.680. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Boqi Environmental (Holding) Co., finds support just below today's level at HK$0.700. If this is broken, then the next support from accumulated volume will be at HK$0.680 and HK$0.670.

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$0.0300 between high and low, or 4.17%. For the last week, the stock has had daily average volatility of 2.62%.

Our recommended stop-loss: HK$0.713 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (2377.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect China Boqi Environmental (Holding) Co., Ltd. to open at HK$0.737, and during the day (based on 14 day Average True Range), to move between HK$0.727 and HK$0.753, which gives a possible trading interval of +/-HK$0.0135 (+/-1.82%) up or down from last closing price. If China Boqi Environmental (Holding) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.64% 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$0.770 (4.05%) than the support at HK$0.700 (5.41%), 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 Boqi Environmental (Holding) Co., Ltd. stock A Buy?

China Boqi Environmental (Holding) Co., 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Boqi Environmental (Holding) Co., Ltd. of Monday, June 17, 2024

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