Freetech Road Recycling Technology Stock Forecast
Is Freetech Road Recycling Technology stock still a buy after falling -5.82% on Tuesday?
(Updated on Jun 25, 2024)
The Freetech Road Recycling Technology stock price fell by -5.82% on the last day (Tuesday, 25th Jun 2024) from HK$0.189 to HK$0.178. During the last trading day the stock fluctuated 4.07% from a day low at HK$0.172 to a day high of HK$0.179. The price has been going up and down for this period, and there has been a 2.3% gain for the last 2 weeks. 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 -24 thousand shares and in total, 76 thousand shares were bought and sold for approximately HK$13.53 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.06% during the next 3 months and, with a 90% probability hold a price between HK$0.156 and HK$0.201 at the end of this 3-month period.
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6888.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. On corrections up, there will be some resistance from the lines at HK$0.180 and HK$0.179. 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 -6.32%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Freetech Road Recycling Technology stock
Freetech Road Recycling Technology finds support from accumulated volume at HK$0.177 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0070 between high and low, or 4.07%. For the last week the stock has had daily average volatility of 0.92%.
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 26th
For the upcoming trading day on Wednesday, 26th 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$0.170 and HK$0.186, which gives a possible trading interval of +/-HK$0.0081 (+/-4.53%) 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 9.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.177 (0.56%) than the resistance at HK$0.180 (1.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -6.216 Strong Sell Candidate Downgraded
Predicted Opening Price for Freetech Road Recycling Technology (Holdings) Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| HK$0.176 ( 0.94%) | HK$0.178 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6888.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.183 | 3.00% |
| R2 | 0.181 | 1.49% |
| R1 | 0.179 | 0.566% |
| Price | 0.178 | |
| S1 | 0.174 | -2.44% |
| S2 | 0.172 | -3.37% |
| S3 | 0.169 | -4.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.190 | 6.74% |
| R2 | 0.187 | 5.06% |
| R1 | 0.180 | 1.12% |
| Price | 0.178 | |
| S1 | 0.177 | -0.562% |
| S2 | 0.165 | -7.30% |
| S3 | 0.140 | -21.35% |
6888 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 23, 2016 | Jun 01, 2016 | Jun 01, 2016 | HK$0.0180 | 1.88% |
| 2 | Jun 18, 2015 | Jun 18, 2015 | Jun 18, 2015 | HK$0.0150 | 0.99% |
| 3 | Jun 04, 2015 | Jun 04, 2015 | Jun 04, 2015 | HK$0.0150 | 1.04% |
| 4 | Mar 26, 2014 | Jun 05, 2014 | Jun 25, 2014 | HK$0.0550 | 2.32% |
FAQ
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