Morgan Stanley China A Share Fund Inc Stock Forecast

Morgan Stanley China A Share Fund Inc stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

CAF Signals & Forecast

The Morgan Stanley China A Share Fund Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $12.31 and $12.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 5.98%. Further rise is indicated until a new top pivot has been found. 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. 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 also not.

Support, Risk & Stop-loss for Morgan Stanley China A Share Fund Inc stock

Morgan Stanley China A Share Fund Inc finds support from accumulated volume at $12.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.110 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.40%

The Morgan Stanley China A Share Fund Inc stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $12.11 (-3.78%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)

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

For the upcoming trading day on Monday, 6th we expect Morgan Stanley China A Share Fund Inc to open at $12.57, and during the day (based on 14 day Average True Range), to move between $12.44 and $12.74, which gives a possible trading interval of +/-$0.147 (+/-1.17%) up or down from last closing price. If Morgan Stanley China A Share Fund Inc takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.26 (2.62%) than the resistance at $13.01 (3.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Morgan Stanley China A Share Fund Inc stock A Buy?

Morgan Stanley China A Share Fund Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.762 Hold/Accumulate Downgraded

Predicted Opening Price for Morgan Stanley China A Share Fund Inc of Monday, May 6, 2024

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