Freetech Road Recycling Technology Stock Forecast

Red day on Tuesday for Freetech Road Recycling Technology stock after losing 0%
(Updated on Jun 18, 2024)

6888.HK Signals & Forecast

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". 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 Freetech Road Recycling Technology 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 HK$0.177 and HK$0.180. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -7.37%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Freetech Road Recycling Technology stock

Freetech Road Recycling Technology finds support from accumulated volume at HK$0.168 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 3.57%.

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

Trading Expectations (6888.HK) For The Upcoming Trading Day Of Wednesday 19th

For the upcoming trading day on Wednesday, 19th we expect Freetech Road Recycling Technology (Holdings) Limited to open at HK$0.176, and during the day (based on 14 day Average True Range), to move between HK$0.168 and HK$0.184, which gives a possible trading interval of +/-HK$0.0079 (+/-4.50%) up or down from last closing price. If Freetech Road Recycling Technology (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 9.01% 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$0.177 (0.57%) than the support at HK$0.168 (4.55%), 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 Freetech Road Recycling Technology (Holdings) Limited stock A Buy?

The Freetech Road Recycling Technology stock holds several negative signals and despite the positive trend, we believe Freetech Road Recycling Technology will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -4.159 Sell Candidate Unchanged

Predicted Opening Price for Freetech Road Recycling Technology (Holdings) Limited of Wednesday, June 19, 2024

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