CBAK Energy Technology Inc. Stock Forecast
CBAK Energy Technology Inc. stock price down 0% on Thursday
(Updated on Mar 28, 2024)
No changes to the price of CBAK Energy Technology Inc. stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 2.91% from a day low at $1.03 to a day high of $1.06. The price has been going up and down for this period, and there has been a -11.11% loss for the last 2 weeks.
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 -5.37% during the next 3 months and, with a 90% probability hold a price between $0.85 and $1.13 at the end of this 3-month period.
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CBAT Signals & Forecast
The CBAK Energy Technology Inc. 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 $1.04 and $1.03. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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, March 14, 2024, and so far it has fallen -11.11%. 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).
Support, Risk & Stop-loss for CBAK Energy Technology Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.97 and $0.97. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CBAK Energy Technology Inc. finds support just below today's level at $0.97. If this is broken, then the next support from accumulated volume will be at $0.97 and $0.95.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0300 between high and low, or 2.91%. For the last week, the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: $0.98 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (CBAT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect CBAK Energy Technology Inc. to open at $1.04, and during the day (based on 14 day Average True Range), to move between $0.99 and $1.09, which gives a possible trading interval of +/-$0.0538 (+/-5.17%) 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 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.05 (0.96%) than the support at $0.97 (6.44%), 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 CBAK Energy Technology Inc. stock A Buy?
CBAK Energy Technology Inc. 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.
Current score: -0.407 Hold/Accumulate Unchanged
Predicted Opening Price for CBAK Energy Technology Inc. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$1.04 ( 0.321%) | $1.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CBAT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.07 | 3.21 % | |
R2 | 1.06 | 2.10 % | ||
R1 | 1.05 | 1.42 % | ||
Current price: | 1.04 | |||
Support | S1 | 1.03 | -0.781 % | |
S2 | 1.02 | -1.46 % | ||
S3 | 1.01 | -2.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.24 | 19.23 % | |
R2 | 1.07 | 2.88 % | ||
R1 | 1.05 | 0.96 % | ||
Current price | 1.04 | |||
Support | S1 | 0.97 | -6.44% | |
S2 | 0.97 | -6.73% | ||
S3 | 0.95 | -8.64% |
FAQ
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