CRRC Corporation Limited Stock Forecast
Red day on Thursday for CRRC Corporation Limited
(Updated on May 02, 2024)
The CRRC Corporation Limited stock price fell by -0.691% on the last day (Thursday, 2nd May 2024) from HK$4.34 to HK$4.31. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.54% from a day low at HK$4.24 to a day high of HK$4.39. The price has fallen in 7 of the last 10 days and is down by -7.31% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -11 million shares and in total, 14 million shares were bought and sold for approximately HK$60.52 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$4.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.10% during the next 3 months and, with a 90% probability hold a price between HK$4.93 and HK$5.59 at the end of this 3-month period.
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1766.HK Signals & Forecast
The CRRC Corporation 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$4.39. On a fall, the stock will find some support from the long-term average at approximately HK$4.31. 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. 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 Wednesday, April 17, 2024, and so far it has fallen -7.31%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CRRC Corporation Limited stock
CRRC Corporation Limited finds support from accumulated volume at HK$4.22 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$0.150 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 3.33%.
Our recommended stop-loss: HK$4.08 (-5.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (1766.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect CRRC Corporation Limited to open at HK$4.31, and during the day (based on 14 day Average True Range), to move between HK$4.15 and HK$4.47, which gives a possible trading interval of +/-HK$0.157 (+/-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 7.27% 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$4.34 (0.70%) than the support at HK$4.22 (2.09%), 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: 1.216 Buy Candidate Unchanged
Predicted Opening Price for CRRC Corporation Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$4.31 ( 0.0773%) | HK$4.31 |
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 | 4.46 | 3.56 % | |
| R2 | 4.41 | 2.23 % | ||
| R1 | 4.37 | 1.41 % | ||
| Current price: | 4.31 | |||
| Support | S1 | 4.26 | -1.25 % | |
| S2 | 4.22 | -2.07 % | ||
| S3 | 4.16 | -3.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.49 | 4.18 % | |
| R2 | 4.44 | 3.02 % | ||
| R1 | 4.34 | 0.696 % | ||
| Current price | 4.31 | |||
| Support | S1 | 4.22 | -2.09% | |
| S2 | 4.07 | -5.57% | ||
| S3 | 4.06 | -5.80% |
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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