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Euro Tech Holdings Company Limited Stock Forecast

NASDAQ:CLWT BUY

$1.60 (21.21%)

Volume: 358.849k

Closed: Aug 05, 2022

Hollow Logo Score: 0.000

Euro Tech Holdings Company Limited Stock Forecast

BUY NASDAQ:CLWT
$1.60 (21.21%)

Volume: 358.849k

Closed: Aug 05, 2022

Score Hollow Logo 0.000
Which way will CLWT go? Request
Fri, Aug 05, 2022 Hold/Accumulate
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSI min/max Values: [ 25 - 75 ] The Euro Tech Holdings Company Limited stock holds an RSI14 at 76 and is currently being overbought on RSI. This does not have to be a sell signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
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High volatility in Euro Tech Holdings Company Limited stock price on Friday which ended trading at $1.60
(Updated on Aug 05, 2022)


Buy or Hold candidate since 2022-08-02 Gain 26.98% PDF

The Euro Tech Holdings Company Limited stock price gained 21.21% on the last trading day (Friday, 5th Aug 2022), rising from $1.32 to $1.60. During the last trading day the stock fluctuated 35.61% from a day low at $1.32 to a day high of $1.79. The price has risen in 5 of the last 10 days and is up by 26.48% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 335 thousand more shares were traded than the day before. In total, 359 thousand shares were bought and sold for approximately $574.16 thousand.

The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $1.52, a level that may pose a second chance to hit a runner. According to fan-theory $2.07 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

Signals & Forecast

The Euro Tech Holdings Company Limited 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 $1.29 and $1.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, July 05, 2022, and so far it has risen 42.86%. 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). Euro Tech Holdings Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss

On the downside, the stock finds support just below today's level from accumulated volume at $1.44 and $1.26. There is 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, Euro Tech Holdings Company Limited finds support just below today's level at $1.44. If this is broken, then the next support from accumulated volume will be at $1.26 and $1.23.

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 $0.47 between high and low, or 35.61%. For the last week, the stock has had a daily average volatility of 14.72%.

The Euro Tech Holdings Company Limited stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $1.54 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)

Trading Expectations For The Upcoming Trading Day Of Monday 8th

For the upcoming trading day on Monday 8th we expect Euro Tech Holdings Company Limited to open at $1.57, and during day (based on 14 day Average True Range), to move between $1.48 and $1.72, which gives a possible trading interval of +/-$0.12 (+/-7.57%) up or down from last closing price. If Euro Tech Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 15.13% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.62 (1.25%) than the support at $1.44 (10.00%), our systems don't find the trading risk/reward intra-day attractive and any bets should be hold until the stock is closer to the support level.

Is Euro Tech Holdings Company Limited stock A Buy?

Euro Tech Holdings Company Limited 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: 0.000

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Hold/Accumulate Unchanged

Predicted Opening Price for Euro Tech Holdings Company Limited of Monday, August 8, 2022

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

Fair opening price August 8, 2022 Current price
$1.57 $1.60 (Overvalued)

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Fibonacci Support & Resistance Levels

Level Price Change
Resistance 2.04 27.50 %
1.86 16.28 %
1.75 9.35 %
Current price: 1.60
Support 1.39 -13.10 %
1.28 -20.03 %
1.10 -31.25 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 1.75 9.38 %
1.72 7.53 %
1.62 1.25 %
Current price 1.60
Support 1.44 -10.00%
1.26 -21.25%
1.23 -23.13%

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About Euro Tech Holdings Company Limited

Euro Tech Holdings Company Limited primarily distributes water treatment equipment, laboratory instruments, analyzers, test kits and related supplies, and power generation equipment to commercial customers, and governmental agencies in Hong Kong and the People's Republic of China. The company operates in two segments, Trading and Manufacturing, and Engineering. It sells analytical instruments, such as spectrophotometers, colorimeters, chromatogra... Read more

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