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China Natural Resources Stock Forecast NASDAQ:CHNR

$0.79 (-8.26%)

Volume: 132k

Closed: Dec 03, 2021

Hollow Logo Score: -6.857

China Natural Resources Stock Forecast

$0.79 (-8.26%)

Volume: 132k

Closed: Dec 03, 2021

Score Hollow Logo -6.857
Which way will CHNR go? Request
Key Stats
Beta 1.72
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] RSI14 is 6 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.

Volatile ride for China Natural Resources stock price on Friday moving between $0.76 and $0.84
(Updated on Dec 03, 2021)


Sell candidate since 2021-11-17 Loss -28.14%

The China Natural Resources stock price fell by -8.26% on the last day (Friday, 3rd Dec 2021) from $0.86 to $0.79. and has now fallen 6 days in a row. During the day the stock fluctuated 10.80% from a day low at $0.76 to a day high of $0.84. The price has fallen in 9 of the last 10 days and is down by -29.42% for this period. Volume has increased on the last day by 108 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 132 thousand shares were bought and sold for approximately $103.97 thousand.

The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point ($1.00) are considered to be a "second chance" to get out. According to the fan-theory $0.71 will represent the new bottom line of the next trend, but it is far too early to say this for certain.

Signals & Forecast

There are few to no technical positive signals at the moment. The China Natural Resources 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 $0.92 and $1.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, November 04, 2021, and so far it has fallen -41.88%. 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). China Natural Resources gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0821 between high and low, or 10.80%. For the last week, the stock has had a daily average volatility of 6.82%.

China Natural Resources is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

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

Is China Natural Resources stock A Buy?

China Natural Resources 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: -6.857

Predicted Opening Price for China Natural Resources of Monday, December 6, 2021

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

Fair opening price December 6, 2021 Current price
$0.80 $0.79 (Undervalued)
Strong Sell Candidate Unchanged

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Volatility and Risk
Daily Average Volatility: 6.82 %
Overall Risk: Very High High Medium Low Very Low
Volatility
6.82 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $0.88
Price: $0.79
No Support Found

CHNR Insider Trading Show all Trades

INSIDER POWER

0.278

Last 42 transactions
Buy: 280 000 | Sell: 1 005 971 (Shares)
Date Action Amount Person Type
Feb 24, 2006 Sell 144 897 Wong Wah On Common Stock, no par value
Feb 24, 2006 Sell 144 897 Tam Cheuk Ho Common Stock, no par value
Feb 24, 2006 Sell 144 897 Anka Capital Ltd Common Stock, no par value
Jul 07, 2004 Sell 40 000 Wong Wah On Common Stock Option
Jul 07, 2004 Buy 40 000 Wong Wah On Common Stock, $.001 par value
Show all Insider Trades
INSIDER POWER

0.278

Last 42 transactions
Buy: 280 000 | Sell: 1 005 971 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 0.88 11.28 %
0.85 7.31 %
0.83 4.86 %
Current price: 0.79
Support 0.77 -3.08 %
0.75 -5.53 %
0.72 -9.50 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 0.96 20.81 %
0.90 14.14 %
0.88 11.32 %
Current price 0.79
Support 0 .
0 .
0 .

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About China Natural Resources

China Natural Resources, Inc., through its subsidiaries, engages in the exploration, mineral extraction, processing, and sale of iron, zinc, and other nonferrous metals in the People’s Republic of China. The company is headquartered in Sheung Wan, Hong Kong.... Read more

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