CMBC Capital Holdings Limited Stock Forecast

Red day on Monday for CMBC Capital Holdings Limited stock after losing 0%
(Updated on May 06, 2024)

1141.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 8.97%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CMBC Capital Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.257 and HK$0.283. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".

Support, Risk & Stop-loss for CMBC Capital Holdings Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.234. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0050 between high and low, or 2.00%. For the last week the stock has had daily average volatility of 4.13%.

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

Trading Expectations (1141.HK) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect CMBC Capital Holdings Limited to open at HK$0.253, and during the day (based on 14 day Average True Range), to move between HK$0.238 and HK$0.272, which gives a possible trading interval of +/-HK$0.0169 (+/-6.62%) up or down from last closing price. If CMBC Capital Holdings Limited takes out the full calculated possible swing range there will be an estimated 13.25% 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$0.260 (1.96%) than the support at HK$0.234 (8.24%), 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 CMBC Capital Holdings Limited stock A Buy?

CMBC Capital Holdings Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.098 Sell Candidate Unchanged

Predicted Opening Price for CMBC Capital Holdings Limited of Tuesday, May 7, 2024

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