China Geothermal Industry Development Stock Forecast

China Geothermal Industry Development stock upgraded to Sell Candidate.
(Updated on Jun 20, 2024)

8128.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 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 Geothermal Industry Development 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$0.0419 and HK$0.0413. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, April 05, 2024 with a target of HK$0.0420. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for China Geothermal Industry Development stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0350 and HK$0.0300. 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, China Geothermal Industry Development finds support just below today's level at HK$0.0350. If this is broken, then the next support from accumulated volume will be at HK$0.0300 and HK$0.0290.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 13.92%

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

Trading Expectations (8128.HK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect China Geothermal Industry Development Group Limited to open at HK$0.0380, and during the day (based on 14 day Average True Range), to move between HK$0.0319 and HK$0.0441, which gives a possible trading interval of +/-HK$0.0061 (+/-16.13%) up or down from last closing price. If China Geothermal Industry Development Group Limited takes out the full calculated possible swing range there will be an estimated 32.26% 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$0.0400 (5.26%) than the support at HK$0.0350 (7.89%), 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 China Geothermal Industry Development Group Limited stock A Buy?

China Geothermal Industry Development holds several negative signals and is within a very wide and 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -2.892 Sell Candidate Upgraded

Predicted Opening Price for China Geothermal Industry Development Group Limited of Friday, June 21, 2024

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