Kimou Environmental Holding Ltd Stock Forecast

Kimou Environmental Holding Ltd stock downgraded to Hold/Accumulate
(Updated on May 24, 2024)

6805.HK Signals & Forecast

The Kimou Environmental Holding Ltd 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$1.13. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Tuesday, May 14, 2024, and so far it has fallen -9.60%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Kimou Environmental Holding Ltd stock

Kimou Environmental Holding Ltd finds support from accumulated volume at HK$1.10 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$0.0100 between high and low, or 0.88%. For the last week, the stock has had daily average volatility of 1.98%.

Our recommended stop-loss: HK$1.07 (-5.46%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (6805.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Kimou Environmental Holding Ltd to open at HK$1.13, and during the day (based on 14 day Average True Range), to move between HK$1.09 and HK$1.17, which gives a possible trading interval of +/-HK$0.0405 (+/-3.58%) up or down from last closing price. If Kimou Environmental Holding Ltd takes out the full calculated possible swing range there will be an estimated 7.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$1.10 (2.65%) than the resistance at HK$1.17 (3.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kimou Environmental Holding Ltd stock A Buy?

Kimou Environmental Holding Ltd 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. 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 Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Kimou Environmental Holding Ltd of Monday, May 27, 2024

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