China Boqi Environmental (Holding) Co., Stock Forecast

High volatility in China Boqi Environmental (Holding) Co., stock price on Thursday which ended trading at HK$0.720
(Updated on Jun 20, 2024)

2377.HK Signals & Forecast

The China Boqi Environmental (Holding) Co., stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.729. On a fall, the stock will find some support from the long-term average at approximately HK$0.702. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Monday, June 17, 2024, and so far it has fallen -2.70%. 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).

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

China Boqi Environmental (Holding) Co., finds support from accumulated volume at HK$0.700 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0800 (11.94%) between high and low. For the last week, the stock has had daily average volatility of 3.22%.

Our recommended stop-loss: HK$0.686 (-4.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (2377.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect China Boqi Environmental (Holding) Co., Ltd. to open at HK$0.713, and during the day (based on 14 day Average True Range), to move between HK$0.703 and HK$0.737, which gives a possible trading interval of +/-HK$0.0172 (+/-2.39%) 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 4.77% 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$0.730 (1.39%) than the support at HK$0.700 (2.78%), 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 Friday, June 21, 2024

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