CBAK Energy Technology Inc. Stock Forecast
CBAK Energy Technology Inc. stock price ended on $0.82 on Friday after gaining 2.68%
(Updated on Sep 29, 2023)
The CBAK Energy Technology Inc. stock price gained 2.68% on the last trading day (Friday, 29th Sep 2023), rising from $0.798 to $0.82. During the last trading day the stock fluctuated 2.77% from a day low at $0.798 to a day high of $0.82. The price has fallen in 7 of the last 10 days but is still up by 1.74% over the past 2 weeks. Volume fell on the last day by -944 shares and in total, 60 thousand shares were bought and sold for approximately $49.50 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -38.60% during the next 3 months and, with a 90% probability hold a price between $0.412 and $0.558 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
CBAT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, September 13, 2023, and so far it has risen 5.00%. 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. The CBAK Energy Technology Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.82 and $0.86. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CBAK Energy Technology Inc. stock
CBAK Energy Technology Inc. finds support from accumulated volume at $0.81 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 $0.0221 between high and low, or 2.77%. For the last week the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CBAT) For The Upcoming Trading Day Of Monday 2nd
For the upcoming trading day on Monday, 2nd we expect CBAK Energy Technology Inc. to open at $0.81, and during the day (based on 14 day Average True Range), to move between $0.773 and $0.86, which gives a possible trading interval of +/-$0.0457 (+/-5.58%) up or down from last closing price. If CBAK Energy Technology Inc. takes out the full calculated possible swing range there will be an estimated 11.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.81 (1.71%) than the resistance at $0.85 (4.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CBAK Energy Technology Inc. stock A Buy?
CBAK Energy Technology Inc. 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.
Current score: -1.691 Open Broker Account
Sell Candidate UnchangedPredicted Opening Price for CBAK Energy Technology Inc. of Monday, October 2, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
| Fair opening price October 2, 2023 | Current price |
|---|---|
| $0.81 | $0.82 (Overvalued) |
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Trading levels for CBAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 1.86 % | |
| R2 | 0.83 | 0.83 % | ||
| R1 | 0.82 | 0.196 % | ||
| Current price: | 0.82 | |||
| Support | S1 | 0.80 | -1.87 % | |
| S2 | 0.799 | -2.50 % | ||
| S3 | 0.790 | -3.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.90 | 10.13 % | |
| R2 | 0.88 | 7.08 % | ||
| R1 | 0.85 | 4.03 % | ||
| Current price | 0.82 | |||
| Support | S1 | 0.81 | -1.71% | |
| S2 | 0.798 | -2.61% | ||
| S3 | 0.780 | -4.76% |
FAQ
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About CBAK Energy Technology Inc.
CBAK Energy Technology, Inc., together with its subsidiaries, develops, manufactures, and sells lithium batteries in Mainland China, the United States, Korea, Europe, and internationally. Its products are used in various applications, including electric vehicles, such as electric cars, electric buses, and hybrid electric cars and buses; light electric vehicles that include electric bicycles, electric motors, and sight-seeing cars; and electric to... CBAT Profile
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