Jete Power Holdings Limited Stock Forecast
Weaker technical forecast for Jete Power Holdings Limited as stock downgraded to Hold/Accumulate.
(Updated on May 24, 2024)
No changes to the price of Jete Power Holdings Limited stock on the last trading day (Friday, 24th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.520 to a day high of HK$0.520. The price has fallen in 5 of the last 10 days and is down by -3.7% for this period.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.511 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.79% during the next 3 months and, with a 90% probability hold a price between HK$0.541 and HK$0.638 at the end of this 3-month period.
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8133.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 1.96%. 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. 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.
Support, Risk & Stop-loss for Jete Power Holdings Limited stock
Jete Power Holdings Limited finds support from accumulated volume at HK$0.510 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: HK$0.491 (-5.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (8133.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Jete Power Holdings Limited to open at HK$0.520, and during the day (based on 14 day Average True Range), to move between HK$0.490 and HK$0.550, which gives a possible trading interval of +/-HK$0.0296 (+/-5.69%) up or down from last closing price. If Jete Power Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.37% 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$0.530 (1.92%) than the support at HK$0.510 (1.92%), 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 Jete Power Holdings Limited stock A Buy?
Jete Power Holdings Limited 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: -0.423 Hold/Accumulate Downgraded
Predicted Opening Price for Jete Power Holdings Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.520 ( 0%) | HK$0.520 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8133.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.520 | . | |
| R2 | 0.520 | . | ||
| R1 | 0.520 | . | ||
| Current price: | 0.520 | |||
| Support | S1 | 0.520 | . | |
| S2 | 0.520 | . | ||
| S3 | 0.520 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.570 | 9.62 % | |
| R2 | 0.540 | 3.85 % | ||
| R1 | 0.530 | 1.92 % | ||
| Current price | 0.520 | |||
| Support | S1 | 0.510 | -1.92% | |
| S2 | 0.500 | -3.85% | ||
| S3 | 0.495 | -4.81% |
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