Xinyi Energy Holdings Limited Stock Forecast

Xinyi Energy Holdings Limited stock downgraded to Sell Candidate
(Updated on May 27, 2024)

3868.HK Signals & Forecast

The Xinyi Energy Holdings Limited 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$1.18. On a fall, the stock will find some support from the long-term average at approximately HK$1.12. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, May 20, 2024, and so far it has fallen -4.92%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Xinyi Energy Holdings Limited stock

Xinyi Energy Holdings Limited finds support from accumulated volume at HK$1.15 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 4.46%. For the last week, the stock has had daily average volatility of 4.87%.

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

Trading Expectations (3868.HK) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Xinyi Energy Holdings Limited to open at HK$1.15, and during the day (based on 14 day Average True Range), to move between HK$1.11 and HK$1.21, which gives a possible trading interval of +/-HK$0.0484 (+/-4.18%) up or down from last closing price. If Xinyi Energy Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.35% 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$1.17 (0.86%) than the support at HK$1.15 (0.86%), 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 Xinyi Energy Holdings Limited stock A Buy?

Xinyi Energy Holdings Limited holds several negative signals and we believe that 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: -1.327 Sell Candidate Downgraded

Predicted Opening Price for Xinyi Energy Holdings Limited of Tuesday, May 28, 2024

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