China New Energy Ltd Forecast and Stock Analysis
Technical CNEL.L stock analysis for March 22, 2019.
No changes to the price of China New Energy Ltd in the last trading day. The price has been going up and down for this period, and there has been a 12.2% gain for the last 2 weeks.
Close price at the end of the last trading day (Friday, 22nd Mar 2019) of the CNEL.L stock was £1.15.
During day the stock fluctuated 0.00% from a day low at £1.15 to a day high of £1.15.
30 day high of the CNEL.L stock price was £1.15 and low was £0.93.
90 day high was £1.38 and low was £0.90.
52 week high for the China New Energy Ltd - £2.15 and low - £0.90.
China New Energy Ltd has 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 on the current trend broken, which is £1.15, a level that may pose a second chance to hit a runner. According to fan-theory £1.44 will be the next possible trendtop level and thereby pose a resistance level which may not be broken on the first attempt.
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 £1.13 and £1.05. A break down below any of these levels will issue sell signals. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Thursday March 21, 2019, which indicates further falls until a new bottom pivot has been found.
Relative Strength Index (RSI)
RSI14 is 50 and the stock is currently not being overbought or oversold
Support & Resistance
China New Energy Ltd finds support from accumulated volume at £1.13.
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 0.00%. For the last week, the stock has had a daily average volatility of 0.44%.
Our recommended stoploss: £1.10 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from pivot top found 1 days ago.)
Very Low Low Medium High Very High
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 for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.