China Harmony New Energy Auto Holding Stock Forecast
China Harmony New Energy Auto Holding stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The China Harmony New Energy Auto Holding stock price gained 4.00% on the last trading day (Friday, 26th Apr 2024), rising from HK$0.500 to HK$0.520. During the last trading day the stock fluctuated 9.80% from a day low at HK$0.510 to a day high of HK$0.560. The price has been going up and down for this period, and there has been a 1.96% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 45 thousand more shares were traded than the day before. In total, 117 thousand shares were bought and sold for approximately HK$60.58 thousand.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.496 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.16% during the next 3 months and, with a 90% probability hold a price between HK$0.476 and HK$0.615 at the end of this 3-month period.
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3836.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.00%. 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). China Harmony New Energy Auto Holding 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. The China Harmony New Energy Auto Holding 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$0.558. On a fall, the stock will find some support from the short-term average at HK$0.513. 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.
Support, Risk & Stop-loss for China Harmony New Energy Auto Holding stock
China Harmony New Energy Auto Holding finds support from accumulated volume at HK$0.510 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 9.80%. For the last week, the stock has had daily average volatility of 5.33%.
Our recommended stop-loss: HK$0.493 (-5.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (3836.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect China Harmony New Energy Auto Holding Limited to open at HK$0.530, and during the day (based on 14 day Average True Range), to move between HK$0.485 and HK$0.555, which gives a possible trading interval of +/-HK$0.0347 (+/-6.67%) up or down from last closing price. If China Harmony New Energy Auto Holding Limited takes out the full calculated possible swing range there will be an estimated 13.34% 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$0.530 (1.92%) than the support at HK$0.510 (1.92%), 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 Harmony New Energy Auto Holding Limited stock A Buy?
China Harmony New Energy Auto Holding 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.247 Hold/Accumulate Upgraded
Predicted Opening Price for China Harmony New Energy Auto Holding Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
HK$0.530 ( 1.92%) | HK$0.520 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3836.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.580 | 11.54 % | |
R2 | 0.561 | 7.87 % | ||
R1 | 0.549 | 5.60 % | ||
Current price: | 0.520 | |||
Support | S1 | 0.511 | -1.75 % | |
S2 | 0.499 | -4.02 % | ||
S3 | 0.480 | -7.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.610 | 17.31 % | |
R2 | 0.600 | 15.38 % | ||
R1 | 0.530 | 1.92 % | ||
Current price | 0.520 | |||
Support | S1 | 0.510 | -1.92% | |
S2 | 0.500 | -3.85% | ||
S3 | 0 | . |
3836 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | HK$0.0660 | 7.17% |
2 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | HK$0.210 | 6.84% |
3 | Jun 17, 2021 | Jun 17, 2021 | Jun 17, 2021 | HK$0.0790 | 2.35% |
4 | Mar 27, 2020 | Jun 18, 2020 | Aug 13, 2020 | HK$0.0750 | 2.14% |
5 | Mar 31, 2019 | Jun 17, 2019 | Aug 13, 2019 | HK$0.120 | 5.71% |
FAQ
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