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AI Analysis of CHNR
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High volatility in China Natural Resources stock price on Wednesday which ended trading at $0.99
(Updated on May 22, 2024)

Sell candidate since May 21, 2024 Gain 5.34% PDF

The China Natural Resources stock price gained 5.34% on the last trading day (Wednesday, 22nd May 2024), rising from $0.94 to $0.99. During the last trading day the stock fluctuated 15.91% from a day low at $0.95 to a day high of $1.10. The price has been going up and down for this period, and there has been a 2.6% gain for the last 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 106 thousand shares were bought and sold for approximately $104.48 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.

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 -24.03% during the next 3 months and, with a 90% probability hold a price between $0.660 and $0.87 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.

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CHNR Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 5.34%. 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 China Natural Resources stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $1.04. On a fall, the stock will find some support from the short-term average at $0.97. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 also not.

Support, Risk & Stop-loss for China Natural Resources stock

China Natural Resources finds support from accumulated volume at $0.98 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 $0.151 between high and low, or 15.91%. For the last week the stock has had daily average volatility of 12.38%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CHNR) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect China Natural Resources to open at $1.01, and during the day (based on 14 day Average True Range), to move between $0.90 and $1.07, which gives a possible trading interval of +/-$0.0839 (+/-8.51%) up or down from last closing price. If China Natural Resources takes out the full calculated possible swing range there will be an estimated 17.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.98 (0.50%) than the resistance at $1.04 (5.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Natural Resources stock A Buy?

China Natural Resources holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.774 Sell Candidate Unchanged

Predicted Opening Price for China Natural Resources of Thursday, May 23, 2024

Fair opening price May 23, 2024 Current price
$1.01 ( 2.67%) $0.99

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

Trading levels for CHNR

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.16 18.00 %
R2 1.10 12.15 %
R1 1.07 8.53 %
Current price: 0.99
Support S1 0.95 -3.18 %
S2 0.92 -6.80 %
S3 0.86 -12.66 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.20 21.83 %
R2 1.07 8.12 %
R1 1.04 5.58 %
Current price 0.99
Support S1 0.98 -0.497%
S2 0.94 -4.57%
S3 0.94 -5.07%

FAQ

What is the symbol for China Natural Resources Stock and on which exchange is it traded?
The symbol for China Natural Resources is CHNR and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell China Natural Resources Stock?
China Natural Resources holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

How to buy China Natural Resources Stock?
China Natural Resources Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy China Natural Resources Stock.

What's the current price of China Natural Resources Stock?
As of the end of day on the May 22, 2024, the price of an China Natural Resources (CHNR) share was $0.99.

What is the 52-week high and low for China Natural Resources Stock?
The 52-week high for China Natural Resources Stock is $8.85 and the 52-week low is $0.86.

What is the market capitalization of China Natural Resources Stock?
As of the May 22, 2024, the market capitalization of China Natural Resources is 9.225M.
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About China Natural Resources

China Natural Resources, Inc., through its subsidiaries, engages in the exploration and mining of metal properties in the People's Republic of China. It explores for lead, silver, and other nonferrous metals. The company holds interest in the Moruogu Tong mine that covers an area of 7.81 square kilometers located in Bayannaoer City, Inner Mongolia. It also offers equipment for rural wastewater treatment; and engineering, procurement, and construc... CHNR Profile

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