China Geothermal Industry Development Stock Forecast
Big movements in China Geothermal Industry Development stock price on Friday moving 21.62% between high and low
(Updated on Jun 28, 2024)
The China Geothermal Industry Development stock price gained 7.32% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.0410 to HK$0.0440. During the last trading day the stock fluctuated 21.62% from a day low at HK$0.0370 to a day high of HK$0.0450. The price has risen in 6 of the last 10 days and is up by 15.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 134 thousand more shares were traded than the day before. In total, 134 thousand shares were bought and sold for approximately HK$5.90 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Geothermal Industry Development stock with a 90% probability to be traded between HK$0.0293 and HK$0.0534 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
8128.HK Signals & Forecast
The China Geothermal Industry Development stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.0404 and HK$0.0409. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 15.79%. Further rise is indicated until a new top pivot has been found. China Geothermal Industry Development 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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$0.0410 and HK$0.0380. 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$0.0410. If this is broken, then the next support from accumulated volume will be at HK$0.0380 and HK$0.0350.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0080 between high and low, or 21.62%. For the last week, the stock has had daily average volatility of 13.79%.
Our recommended stop-loss: HK$0.0423 (-3.82%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (8128.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect China Geothermal Industry Development Group Limited to open at HK$0.0420, and during the day (based on 14 day Average True Range), to move between HK$0.0377 and HK$0.0503, which gives a possible trading interval of +/-HK$0.0063 (+/-14.39%) 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 28.77% 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$0.0410 (6.82%) than the resistance at HK$0.0490 (11.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Geothermal Industry Development Group Limited stock A Buy?
China Geothermal Industry Development 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Upgraded
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 China Geothermal Industry Development Group Limited of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$0.0420 ( 4.55%) | HK$0.0440 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8128.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0500 | 13.64% |
R2 | 0.0469 | 6.69% |
R1 | 0.0451 | 2.40% |
Price | 0.0440 | |
S1 | 0.0389 | -11.49% |
S2 | 0.0371 | -15.78% |
S3 | 0.0340 | -22.73% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0530 | 20.45% |
R2 | 0.0510 | 15.91% |
R1 | 0.0490 | 11.36% |
Price | 0.0440 | |
S1 | 0.0410 | -6.82% |
S2 | 0.0380 | -13.64% |
S3 | 0.0350 | -20.45% |
8128 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 15, 2014 | May 15, 2014 | May 15, 2014 | HK$0.0044 | 1.28% |
2 | Jun 17, 2013 | Jun 17, 2013 | Jun 17, 2013 | HK$0.0035 | 0.81% |
FAQ
Click here for our free guide on how to buy China Geothermal Industry Development Group Limited Stock.