We see a clear intraday oversold bounce setup for 0708.HK stock on 13 Jan 2026 after a heavy volume spike. The Hong Kong-listed China Evergrande New Energy Vehicle Group Limited (HKSE) traded at HKD 0.17, swinging to an intraday high of HKD 0.214 on volume of 162,856,795 shares. That volume is nearly five times the 30-day average and signals short-term squeeze potential. Traders can watch HKD 0.17 as a near-term support and consider a measured bounce play given the 50-day average of HKD 0.18 and a 200-day average of HKD 0.26.

Intraday price action and volume

0708.HK stock opened at HKD 0.17 and recorded a day high of HKD 0.214 with a previous close of HKD 0.168. High turnover of 162,856,795 shares versus average volume 32,634,888 pushed relative volume to about 4.99, which often precedes short-term volatility and sharp mean reversion.

Heavy intraday volume on this Hong Kong (HKSE) listing supports the oversold bounce thesis because it concentrates liquidity at the current price band and creates potential for short-covering or momentum buying.

Fundamentals and key metrics for 0708.HK stock

On fundamentals, China Evergrande New Energy Vehicle Group reports negative EPS of -2.60 and a negative PE of -0.07, reflecting continuing losses across segments. The company shows a market cap near HKD 1,843,444,864 and shares outstanding of 10,843,793,317.

Balance-sheet and cash metrics are weak: book value per share is -3.48, cash per share 0.01, current ratio 0.34, and interest coverage -4.66, highlighting material solvency risks despite short-term trading setups.

Technical context and oversold bounce setup for 0708.HK stock

Technically, the stock trades below its 50-day average (HKD 0.18) and well below the 200-day average (HKD 0.26), a classic oversold environment. The intraday range and volume spike suggest a short-term mean-reversion opportunity toward the 50-day moving average and first resistance at HKD 0.26.

Day traders should size positions for high volatility: intraday stop-loss near HKD 0.15 and a short-term target band HKD 0.26–0.30 to capture a measured bounce while controlling downside risk.

Meyka AI stock grade and analyst view on 0708.HK stock

Meyka AI rates 0708.HK with a score out of 100: 60.71 — Grade B — Suggestion: HOLD. This grade factors in S&P 500 benchmark comparison, sector performance, financial growth, key metrics, and analyst consensus.

The grade reflects a split picture: large market-cap volatility and operational stress, offset by episodic liquidity events that create tactical trading opportunities rather than long-term buy conviction.

Valuation, sector comparison and risks for 0708.HK stock

Price-to-sales sits around 1.23 while EV-to-sales is elevated at 21.14, driven by negative earnings and high reported enterprise value. In Hong Kong’s healthcare sector, average PB is 2.51 and average ROE is 9.83%, making 0708.HK an outlier with negative book value and negative margins.

Key risks include continued operating losses, strained liquidity ratios, and parent-group exposure. Any bounce trade must accept asymmetric downside and monitor company announcements closely via the corporate site Evergrande Health.

Trading strategy and practical entry for the oversold bounce

For the oversold bounce strategy, consider a staggered entry: partial position near HKD 0.17, add on intraday confirmation above HKD 0.19, and set profit targets at HKD 0.26 and HKD 0.30. Use tight risk controls with a stop loss at HKD 0.15 or 10% below entry.

Size positions small relative to portfolio and avoid overnight carries unless new positive catalysts appear. Track order-book liquidity and note that average daily volume is 32,634,888, so intraday execution is feasible but volatile.

Final Thoughts

Short-term traders can treat 0708.HK stock as an oversold bounce candidate on 13 Jan 2026 given HKD 0.17 support, a day high of HKD 0.214, and a volume spike of 162,856,795 shares. Fundamentals remain weak with EPS -2.60, negative book value -3.48 per share, and thin current liquidity, so any bounce is tactical. Meyka AI’s forecast model projects a short-term bounce target of HKD 0.28 (implied upside 64.71% from HKD 0.17) and a 12-month central case of HKD 0.40 (implied upside 135.29%). Forecasts are model-based projections and not guarantees. Traders should size positions small, apply tight stops at HKD 0.15, and watch catalysts and official updates on the company site. For additional context see company filings and our Meyka AI-powered market analysis at 0708.HK on Meyka.

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Stock markets involve risks. This content is for informational purposes only. Past performance does not guarantee future results. Meyka AI PTY LTD provides market analysis and data insights, not financial advice. Always conduct your own research and consider consulting a licensed financial advisor.