CRRC Corporation Limited Stock Forecast
CRRC Corporation Limited stock price up 0.438% on Friday
(Updated on Apr 19, 2024)
The CRRC Corporation Limited stock price gained 0.438% on the last trading day (Friday, 19th Apr 2024), rising from HK$4.57 to HK$4.59. During the last trading day the stock fluctuated 2.86% from a day low at HK$4.54 to a day high of HK$4.67. The price has risen in 6 of the last 10 days and is up by 7.49% over the past 2 weeks. Volume fell on the last day by -709 thousand shares and in total, 21 million shares were bought and sold for approximately HK$96.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$4.68 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 26.47% during the next 3 months and, with a 90% probability hold a price between HK$5.24 and HK$5.92 at the end of this 3-month period.
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1766.HK Signals & Forecast
The CRRC Corporation Limited 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$4.42 and HK$4.26. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Wednesday, April 17, 2024, and so far it has fallen -1.29%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CRRC Corporation Limited stock
CRRC Corporation Limited finds support from accumulated volume at HK$4.49 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 HK$0.130 between high and low, or 2.86%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: HK$4.42 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (1766.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect CRRC Corporation Limited to open at HK$4.60, and during the day (based on 14 day Average True Range), to move between HK$4.42 and HK$4.76, which gives a possible trading interval of +/-HK$0.167 (+/-3.63%) up or down from last closing price. If CRRC Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.26% 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$4.65 (1.31%) than the support at HK$4.49 (2.18%), 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 CRRC 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 CRRC Corporation Limited stock to perform well in the short-term.
Current score: 2.882 Buy Candidate Unchanged
Predicted Opening Price for CRRC Corporation Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$4.60 ( 0.218%) | HK$4.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1766.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.73 | 3.05 % | |
| R2 | 4.68 | 1.97 % | ||
| R1 | 4.65 | 1.30 % | ||
| Current price: | 4.59 | |||
| Support | S1 | 4.55 | -0.86 % | |
| S2 | 4.52 | -1.53 % | ||
| S3 | 4.47 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.65 | 1.31 % | ||
| Current price | 4.59 | |||
| Support | S1 | 4.49 | -2.18% | |
| S2 | 3.74 | -18.52% | ||
| S3 | 3.65 | -20.48% |
1766 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | HK$0.220 | 5.07% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | HK$0.210 | 7.24% |
| 3 | Jun 23, 2021 | Jun 23, 2021 | Jun 23, 2021 | HK$0.218 | 6.22% |
| 4 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | HK$0.164 | 4.90% |
| 5 | Jun 28, 2019 | Jun 28, 2019 | Jun 28, 2019 | HK$0.171 | 2.62% |
FAQ
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