Jete Power Holdings Limited Stock Forecast

Jete Power Holdings Limited stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)

8133.HK Signals & Forecast

The Jete Power Holdings Limited 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$0.531 and HK$0.539. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. 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$0.530 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 0.755%

Our recommended stop-loss: HK$0.509 (-5.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (8133.HK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect Jete Power Holdings Limited to open at HK$0.540, and during the day (based on 14 day Average True Range), to move between HK$0.524 and HK$0.556, which gives a possible trading interval of +/-HK$0.0156 (+/-2.89%) 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 5.78% 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$0.550 (1.85%) than the support at HK$0.530 (1.85%), 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?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Jete Power Holdings Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.464 Buy Candidate Upgraded

Predicted Opening Price for Jete Power Holdings Limited of Monday, June 17, 2024

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