VOLUME
Buy
TREND
Buy
MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Buy

CNEL.L Forecast and Technical Stock Analysis

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Hold candidate since 2019-08-16

China New Energy Ltd gained 26.92% in the last trading day ( Friday, 16th Aug 2019 ), rising from £0.01 to £0.02 During the day the stock fluctuated 21.43% from a day low at £0.01 to a day high of £0.02. The price has risen in 4 of the last 10 days and is up by 17.86% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 1.42 million more shares were traded than the day before. In total, 1.56 million shares bought and sold for approximately £25 788.80.

Quick summary:

  • 30 day high of the CNEL.L stock price was £0.02 and low was £0.01.
  • 90 day high was £0.02 and low was £0.01.
  • 52 week high for China New Energy Ltd - £1.20 and low - £0.01.
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Trend

China New Energy Ltd lies in the upper part of a very wide and strong rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at £0.02 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 14.13% during the next 3 months and, with 90% probability hold a price between £0.01 and £0.02 at the end of this period.

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Signals

China New Energy Ltd holds buy signals from both short- and long-term moving averages. In addition, 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 £0.01 and £0.01. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday August 13, 2019, which indicates further gains until a new top pivot has been found. China New Energy Ltd has rising 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.

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Relative Strength Index (RSI)

RSImin/max Values: [ 20 - 85 ]

RSI14 is 71 and the stock is currently not being overbought or oversold

* Stockinvest.us uses dynamical calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behaviour.

Support & Resistance

China New Energy Ltd finds support from accumulated volume at £0.02.

Support: £0.02 Price: £0.02

Risk

This stock may move much during a 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 £0.00 between high and low, or 21.43%. For the last week, the stock has had a daily average volatility of 12.86%.

Our recommended stop-loss: £0.02 (-4.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 3 days ago.)

12.86 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Hold/Accumulate Upgraded

Evaluation

China New Energy Ltd holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level, we recommend to hold or accumulate in this position whilst awaiting further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.

Will CNEL.L stock price go up or down on Mon, 19 Aug 2019?

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