China Recycling Energy Corporation Stock Forecast

High volatility in China Recycling Energy Corporation stock price on Wednesday which ended trading at $1.11
(Updated on Apr 24, 2024)

CREG Signals & Forecast

There are few to no technical positive signals at the moment. The China Recycling Energy Corporation 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 $1.17 and $1.28. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -24.49%. 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 Recycling Energy Corporation 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". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Recycling Energy Corporation stock

China Recycling Energy Corporation finds support from accumulated volume at $1.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.170 between high and low, or 15.89%. For the last week, the stock has had daily average volatility of 14.98%.

China Recycling Energy Corporation is oversold on RSI14 (14). 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 a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CREG) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect China Recycling Energy Corporation to open at $1.14, and during the day (based on 14 day Average True Range), to move between $0.97 and $1.25, which gives a possible trading interval of +/-$0.145 (+/-13.05%) up or down from last closing price. If China Recycling Energy Corporation takes out the full calculated possible swing range there will be an estimated 26.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $1.10 (0.90%) than the resistance at $1.13 (1.80%), 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 Recycling Energy Corporation stock A Buy?

China Recycling Energy Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.372 Strong Sell Candidate Downgraded

Predicted Opening Price for China Recycling Energy Corporation of Thursday, April 25, 2024

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