China Energy Engineering Corp Ltd Stock Forecast
Evaluation of China Energy Engineering Corp Ltd stock downgraded after the last trading session.
(Updated on Jun 20, 2024)
The China Energy Engineering Corp Ltd stock price fell by -0.94% on the last day (Thursday, 20th Jun 2024) from $2.13 to $2.11. During the last trading day the stock fluctuated 1.90% from a day low at $2.10 to a day high of $2.14. The price has fallen in 7 of the last 10 days and is down by -2.76% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 million shares and in total, 112 million shares were bought and sold for approximately $237.00 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $2.11 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Energy Engineering Corp Ltd stock with a 90% probability to be traded between $2.11 and $2.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
601868.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 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 China Energy Engineering Corp 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 $2.12 and $2.19. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Energy Engineering Corp Ltd stock
China Energy Engineering Corp Ltd finds support from accumulated volume at $2.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0400 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601868.SS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect China Energy Engineering Corporation Limited to open at $2.12, and during the day (based on 14 day Average True Range), to move between $2.08 and $2.14, which gives a possible trading interval of +/-$0.0322 (+/-1.53%) up or down from last closing price. If China Energy Engineering Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.10 (0.47%) than the resistance at $2.19 (3.79%), 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 Energy Engineering Corporation Limited stock A Buy?
China Energy Engineering Corp Ltd holds several negative signals and is within a 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 Buy to a Sell candidate.
Current score: -2.007 Sell Candidate Downgraded
Predicted Opening Price for China Energy Engineering Corporation Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $2.12 ( 0.316%) | $2.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601868.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.16 | 2.21% |
| R2 | 2.14 | 1.49% |
| R1 | 2.13 | 1.04% |
| Price | 2.11 | |
| S1 | 2.10 | -0.408% |
| S2 | 2.09 | -0.86% |
| S3 | 2.08 | -1.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.25 | 6.64% |
| R2 | 2.22 | 5.21% |
| R1 | 2.19 | 3.79% |
| Price | 2.11 | |
| S1 | 2.10 | -0.474% |
| S2 | 0 | - |
| S3 | 0 | - |
601868 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 16, 2023 | Jun 16, 2023 | Jun 16, 2023 | $0.0252 | 1.06% |
| 2 | Aug 26, 2022 | Aug 26, 2022 | Aug 26, 2022 | $0.0225 | 1.00% |
FAQ
Click here for our free guide on how to buy China Energy Engineering Corporation Limited Stock.
