CBAK Energy Technology Inc. stock price down 2.46% on Monday
(Updated on Sep 26, 2022)
Sell candidate since 2022-09-16 Loss -11.85% PDF
The CBAK Energy Technology Inc. stock price fell by -2.46% on the last day (Monday, 26th Sep 2022) from $1.22 to $1.19. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 6.38% from a day low at $1.18 to a day high of $1.25. The price has fallen in 7 of the last 10 days and is down by -14.39% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -137 thousand shares and in total, 145 thousand shares were bought and sold for approximately $172.79 thousand.
Given the current short-term trend, the stock is expected to rise 16.92% during the next 3 months and, with a 90% probability hold a price between $1.39 and $1.97 at the end of this 3-month period.
Signals & Forecast
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 $1.28 and $1.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, August 12, 2022, and so far it has fallen -24.20%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss
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 $0.0750 between high and low, or 6.38%. For the last week the stock has had daily average volatility of 6.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations For The Upcoming Trading Day Of Tuesday 27th
For the upcoming trading day on Tuesday, 27th we expect CBAK Energy Technology Inc. to open at $1.21, and during the day (based on 14 day Average True Range), to move between $1.11 and $1.27, which gives a possible trading interval of +/-$0.0810 (+/-6.81%) 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 13.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.18 (0.84%) than the resistance at $1.25 (5.04%), 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?
The CBAK Energy Technology Inc. stock holds several negative signals and despite the positive trend, we believe CBAK Energy Technology Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.655Sell Candidate Unchanged
Predicted Opening Price for CBAK Energy Technology Inc. of Tuesday, September 27, 2022
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price September 27, 2022||Current price|
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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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