Chia Tai Enterprises International Ltd Stock Forecast
Red day on Thursday for Chia Tai Enterprises International Ltd stock after losing 0%
(Updated on Jun 20, 2024)
No changes to the price of Chia Tai Enterprises International Ltd stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.85 to a day high of HK$0.85. The price has been going up and down for this period, and there has been a -1.16% loss for the last 2 weeks.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.02% during the next 3 months and, with a 90% probability hold a price between HK$0.86 and HK$1.14 at the end of this 3-month period.
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3839.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chia Tai Enterprises International Ltd 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$0.85 and HK$0.87. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -1.57% to HK$0.84 within 6 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for Chia Tai Enterprises International Ltd 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, Chia Tai Enterprises International Ltd 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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0%
Our recommended stop-loss: HK$0.799 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (3839.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Chia Tai Enterprises International Limited to open at HK$0.85, and during the day (based on 14 day Average True Range), to move between HK$0.83 and HK$0.87, which gives a possible trading interval of +/-HK$0.0231 (+/-2.72%) up or down from last closing price. If Chia Tai Enterprises International Limited takes out the full calculated possible swing range there will be an estimated 5.44% 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$0.86 (1.18%) than the support at HK$0.700 (17.65%), 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 Chia Tai Enterprises International Limited stock A Buy?
Chia Tai Enterprises International Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Chia Tai Enterprises International Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.85 ( 0%) | HK$0.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3839.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.85 | - |
| R2 | 0.85 | - |
| R1 | 0.85 | - |
| Price | 0.85 | |
| S1 | 0.85 | - |
| S2 | 0.85 | - |
| S3 | 0.85 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.93 | 9.41% |
| R2 | 0.89 | 4.71% |
| R1 | 0.86 | 1.18% |
| Price | 0.85 | |
| S1 | 0.700 | -17.65% |
| S2 | 0.680 | -20.00% |
| S3 | 0.670 | -21.18% |
FAQ
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