ChinaNet Online Holdings Stock Forecast

ChinaNet Online Holdings stock upgraded to Strong Buy Candidate.
(Updated on Apr 26, 2024)

CNET Signals & Forecast

The ChinaNet Online Holdings stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.98 and $0.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 6.98%. Further rise is indicated until a new top pivot has been found. ChinaNet Online Holdings 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. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for ChinaNet Online Holdings stock

ChinaNet Online Holdings finds support from accumulated volume at $0.97 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0340 between high and low, or 3.52%. For the last week, the stock has had daily average volatility of 6.52%.

Our recommended stop-loss: $0.95 (-4.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (CNET) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect ChinaNet Online Holdings to open at $0.99, and during the day (based on 14 day Average True Range), to move between $0.92 and $1.06, which gives a possible trading interval of +/-$0.0729 (+/-7.35%) up or down from last closing price. If ChinaNet Online Holdings takes out the full calculated possible swing range there will be an estimated 14.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.99 (0.16%) than the support at $0.97 (2.23%), 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 ChinaNet Online Holdings stock A Buy?

ChinaNet Online Holdings holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.

Current score: 5.127 Strong Buy Candidate Upgraded

Predicted Opening Price for ChinaNet Online Holdings of Monday, April 29, 2024

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