Changjiang Securities Company Limited Stock Forecast

Changjiang Securities Company Limited stock price up 0.539% on Friday
(Updated on May 10, 2024)

000783.SZ Signals & Forecast

The Changjiang Securities Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ¥5.63. On a fall, the stock will find some support from the long-term average at approximately ¥5.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.78%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Changjiang Securities Company Limited stock

Changjiang Securities Company Limited finds support from accumulated volume at ¥5.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.0800 between high and low, or 1.44%. For the last week, the stock has had daily average volatility of 2.41%.

Our recommended stop-loss: ¥5.34 (-4.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)

Trading Expectations (000783.SZ) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Changjiang Securities Company Limited to open at ¥5.59, and during the day (based on 14 day Average True Range), to move between ¥5.39 and ¥5.81, which gives a possible trading interval of +/-¥0.212 (+/-3.79%) up or down from last closing price. If Changjiang Securities Company Limited takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥5.70 (1.79%) than the support at ¥5.41 (3.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Changjiang Securities Company Limited stock A Buy?

Changjiang Securities Company Limited 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.

Current score: -0.720 Hold/Accumulate Unchanged

Predicted Opening Price for Changjiang Securities Company Limited of Monday, May 13, 2024

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