China Aerospace International Holdings Stock Forecast

Green day on Wednesday for China Aerospace International Holdings
(Updated on May 08, 2024)

0031.HK Signals & Forecast

The China Aerospace International Holdings 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 HK$0.314 and HK$0.302. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.56%. 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 China Aerospace International Holdings stock

China Aerospace International Holdings finds support from accumulated volume at HK$0.300 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 4.96%.

Our recommended stop-loss: HK$0.304 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (0031.HK) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect China Aerospace International Holdings Limited to open at HK$0.312, and during the day (based on 14 day Average True Range), to move between HK$0.301 and HK$0.329, which gives a possible trading interval of +/-HK$0.0140 (+/-4.44%) up or down from last closing price. If China Aerospace International Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$0.320 (1.59%) than the support at HK$0.300 (4.76%), 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 China Aerospace International Holdings Limited stock A Buy?

China Aerospace International Holdings 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: -0.767 Hold/Accumulate Unchanged

Predicted Opening Price for China Aerospace International Holdings Limited of Thursday, May 9, 2024

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