China Harmony New Energy Auto Holding Stock Forecast

China Harmony New Energy Auto Holding stock price fell more than -5.56% Wednesday closing at HK$0.510
(Updated on May 08, 2024)

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 2.00%. 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). 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.530 and HK$0.543. A break-up above any of these levels will issue buy signals. China Harmony New Energy Auto Holding gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

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$0.500 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$0.0100 between high and low, or 1.96%. For the last week, the stock has had daily average volatility of 6.15%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3836.HK) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect China Harmony New Energy Auto Holding Limited to open at HK$0.513, and during the day (based on 14 day Average True Range), to move between HK$0.472 and HK$0.548, which gives a possible trading interval of +/-HK$0.0378 (+/-7.41%) 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 14.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.500 (1.96%) than the resistance at HK$0.530 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Harmony New Energy Auto Holding Limited stock A Buy?

China Harmony New Energy Auto Holding holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.945 Sell Candidate Downgraded

Predicted Opening Price for China Harmony New Energy Auto Holding Limited of Thursday, May 9, 2024

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