China Resources Land Limited Stock Forecast

Weaker technical forecast for China Resources Land Limited as stock downgraded to Sell Candidate.
(Updated on May 24, 2024)

1109.HK Signals & Forecast

The China Resources Land 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 HK$32.04. On a fall, the stock will find some support from the long-term average at approximately HK$27.63. 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. 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 Friday, May 17, 2024, and so far it has fallen -7.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for China Resources Land Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$25.20 and HK$24.75. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Resources Land Limited finds support just below today's level at HK$25.20. If this is broken, then the next support from accumulated volume will be at HK$24.75 and HK$23.70.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$1.50 between high and low, or 4.99%. For the last week, the stock has had daily average volatility of 3.64%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1109.HK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect China Resources Land Limited to open at HK$30.72, and during the day (based on 14 day Average True Range), to move between HK$29.14 and HK$31.96, which gives a possible trading interval of +/-HK$1.41 (+/-4.62%) up or down from last closing price. If China Resources Land Limited takes out the full calculated possible swing range there will be an estimated 9.24% 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$31.90 (4.42%) than the support at HK$25.20 (17.51%), 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 Resources Land Limited stock A Buy?

The China Resources Land Limited stock holds several negative signals and despite the positive trend, we believe China Resources Land Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.131 Sell Candidate Downgraded

Predicted Opening Price for China Resources Land Limited of Monday, May 27, 2024

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