Elion Energy Company Limited Stock Forecast

Red day on Wednesday for Elion Energy Company Limited
(Updated on Jun 26, 2024)

600277.SS Signals & Forecast

There are mixed signals in the stock today. The Elion Energy Company Limited 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 $0.397 and $0.86. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has fallen 0%. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 09, 2024 with a target of $2.28. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Elion Energy Company Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.526%

Our recommended stop-loss: $0.357 (-6.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)

Trading Expectations (600277.SS) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Elion Energy Company Limited to open at $0.380, and during the day (based on 14 day Average True Range), to move between $0.348 and $0.412, which gives a possible trading interval of +/-$0.0324 (+/-8.53%) up or down from last closing price. If Elion Energy Company Limited takes out the full calculated possible swing range there will be an estimated 17.05% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $0.400, some $0.0200 (5.26%) from the current price of $0.380, our system finds the risk reward not very attractive.

Is Elion Energy Company Limited stock A Buy?

Elion Energy Company Limited 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 Elion Energy Company Limited of Thursday, June 27, 2024

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