Kangda International Environmental Co Stock Forecast

Kangda International Environmental Co stock price up more than 5.65% on Friday
(Updated on May 17, 2024)

6136.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 10.45%. 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). Kangda International Environmental Co has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kangda International Environmental Co stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.250. On a fall, the stock will find some support from the short-term average at HK$0.233. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Kangda International Environmental Co stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.230 and HK$0.222. 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, Kangda International Environmental Co finds support just below today's level at HK$0.230. If this is broken, then the next support from accumulated volume will be at HK$0.222 and HK$0.220.

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$0.0220 between high and low, or 9.91%. For the last week, the stock has had daily average volatility of 5.04%.

Our recommended stop-loss: HK$0.233 (-4.06%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (6136.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Kangda International Environmental Company Limited to open at HK$0.236, and during the day (based on 14 day Average True Range), to move between HK$0.230 and HK$0.256, which gives a possible trading interval of +/-HK$0.0134 (+/-5.51%) up or down from last closing price. If Kangda International Environmental Company Limited takes out the full calculated possible swing range there will be an estimated 11.03% 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$0.248 (2.06%) than the support at HK$0.230 (5.35%), 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 Kangda International Environmental Company Limited stock A Buy?

Kangda International Environmental Co 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: 0.462 Hold/Accumulate Unchanged

Predicted Opening Price for Kangda International Environmental Company Limited of Monday, May 20, 2024

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