China Railway Construction Corp Ltd Stock Forecast

Green day on Friday for China Railway Construction Corp Ltd
(Updated on May 03, 2024)

1186.HK Signals & Forecast

The China Railway Construction Corp Ltd 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$5.07 and HK$4.91. 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). 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 -1.74%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for China Railway Construction Corp Ltd stock

China Railway Construction Corp Ltd finds support from accumulated volume at HK$4.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0700 (1.38%) between high and low. For the last week, the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: HK$4.87 (-4.31%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (1186.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Railway Construction Corporation Limited to open at HK$5.09, and during the day (based on 14 day Average True Range), to move between HK$4.98 and HK$5.20, which gives a possible trading interval of +/-HK$0.113 (+/-2.21%) up or down from last closing price. If China Railway Construction Corporation Limited takes out the full calculated possible swing range there will be an estimated 4.43% 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$5.13 (0.79%) than the support at HK$4.94 (2.95%), 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 Railway Construction Corporation Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Railway Construction Corp Ltd stock to perform well in the short-term.

Current score: 1.707 Buy Candidate Unchanged

Predicted Opening Price for China Railway Construction Corporation Limited of Monday, May 6, 2024

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