Central China New Life Limited Stock Forecast

Central China New Life Limited stock price down 0% on Friday
(Updated on Jun 28, 2024)

9983.HK Signals & Forecast

The Central China New Life Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$1.45 and HK$1.40. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -9.76%. Further fall is indicated until a new bottom pivot has been found. 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 Central China New Life Limited stock

Central China New Life Limited finds support from accumulated volume at HK$1.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0200 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 3.64%.

Our recommended stop-loss: HK$1.42 (-4.20%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (9983.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect Central China New Life Limited to open at HK$1.47, and during the day (based on 14 day Average True Range), to move between HK$1.40 and HK$1.56, which gives a possible trading interval of +/-HK$0.0832 (+/-5.62%) up or down from last closing price. If Central China New Life Limited takes out the full calculated possible swing range there will be an estimated 11.24% 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$1.46 (1.35%) than the resistance at HK$1.56 (5.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Central China New Life Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Central China New Life Limited stock to perform well in the short-term.

Current score: 1.421 Buy Candidate Unchanged

Predicted Opening Price for Central China New Life Limited of Tuesday, July 2, 2024

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