To The Moon

$CN Energy Group Inc.(CNEY)$ 

CN Energy Group Inc. (CNEY) Company Description

CN Energy Group Inc along with its subsidiaries is a manufacturer and supplier of wood-based activated carbon that is used in pharmaceutical manufacturing, industrial manufacturing, water purification, environmental protection, and food and beverage production and a producer of biomass electricity generated in the process of producing activated carbon. The firm generates a majority of its revenue from Activated carbon.

The CN Energy Group. Inc. stock price gained 1.44% on the last trading day (Friday, 3rd Mar 2023), rising from $0.292 to $0.296. During the last trading day the stock fluctuated 6.14% from a day low at $0.285 to a day high of $0.303. The price has fallen in 7 of the last 10 days and is down by -21.59% for this period. Volume fell on the last day by -13 thousand shares and in total, 232 thousand shares were bought and sold for approximately $68.70 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.185 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -20.21% during the next 3 months and, with a 90% probability hold a price between $0.147 and $1.57 at the end of this 3-month period.

CNEY Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CN Energy Group. Inc. 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 $0.307 and $0.645. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, January 27, 2023, and so far it has fallen -86.36%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for CN Energy Group. Inc. stock

CN Energy Group. Inc. finds support from accumulated volume at $0.294 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

$0.294 $0.296 $0.322

This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0175 between high and low, or 6.14%. For the last week the stock has had daily average volatility of 6.50%.

CN Energy Group. Inc. is oversold on RSI14 (13). 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.

Trading Expectations (CNEY) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect CN Energy Group. Inc. to open at $0.295, and during the day (based on 14 day Average True Range), to move between $0.216 and $0.376, which gives a possible trading interval of +/-$0.0795 (+/-26.87%) up or down from last closing price. If CN Energy Group. Inc. takes out the full calculated possible swing range there will be an estimated 53.74% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.294 (0.81%) than the resistance at $0.322 (8.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance.