Csop Hang Seng Tech Index Etf ETF Forecast
Csop Hang Seng Tech Index Etf ETF price down 0.743% on Tuesday
(Updated on Jul 02, 2024)
The Csop Hang Seng Tech Index Etf ETF price fell by -0.743% on the last day (Tuesday, 2nd Jul 2024) from HK$3.50 to HK$3.47. It has now fallen 3 days in a row. During the last trading day the ETF fluctuated 2.14% from a day low at HK$3.46 to a day high of HK$3.53. The price has fallen in 8 of the last 10 days and is down by -4.72% for this period. Volume has increased on the last day by 282 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 611 million shares were bought and sold for approximately HK$2.12 billion.
The ETF lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.44 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -5.29% during the next 3 months and, with a 90% probability hold a price between HK$3.26 and HK$3.51 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
3033.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Csop Hang Seng Tech Index Etf ETF 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$3.57 and HK$3.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -7.86%. 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 ETF should be followed more closely.
Support, Risk & Stop-loss for Csop Hang Seng Tech Index Etf ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved HK$0.0740 (2.14%) between high and low. For the last week, the ETF has had daily average volatility of 2.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3033.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Csop Hang Seng Tech Index Etf to open at HK$3.49, and during the day (based on 14 day Average True Range), to move between HK$3.39 and HK$3.56, which gives a possible trading interval of +/-HK$0.0853 (+/-2.46%) up or down from last closing price. If Csop Hang Seng Tech Index Etf takes out the full calculated possible swing range there will be an estimated 4.91% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$3.64, some HK$0.166 (4.78%) from the current price of HK$3.47, our system finds the risk reward not very attractive.
Is Csop Hang Seng Tech Index Etf ETF A Buy?
Csop Hang Seng Tech Index Etf holds several negative signals and is within a 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 ETF.
Current score: -3.472 Sell Candidate Unchanged
Predicted Opening Price for Csop Hang Seng Tech Index Etf of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
HK$3.49 ( 0.480%) | HK$3.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3033.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.56 | 2.61% |
R2 | 3.53 | 1.80% |
R1 | 3.52 | 1.29% |
Price | 3.47 | |
S1 | 3.46 | -0.334% |
S2 | 3.44 | -0.84% |
S3 | 3.41 | -1.65% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.73 | 7.55% |
R2 | 3.73 | 7.43% |
R1 | 3.64 | 4.78% |
Price | 3.47 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
Click here for our free guide on how to buy Csop Hang Seng Tech Index Etf ETF.