Csop Hang Seng Tech Index Etf ETF Forecast
Csop Hang Seng Tech Index Etf ETF upgraded to Hold/Accumulate.
(Updated on Jul 03, 2024)
The Csop Hang Seng Tech Index Etf ETF price gained 2.76% on the last trading day (Wednesday, 3rd Jul 2024), rising from HK$3.47 to HK$3.57. During the last trading day the ETF fluctuated 2.41% from a day low at HK$3.49 to a day high of HK$3.58. The price has fallen in 7 of the last 10 days and is down by -1.87% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 94 million more shares were traded than the day before. In total, 705 million shares were bought and sold for approximately HK$2.52 billion.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -5.43% during the next 3 months and, with a 90% probability hold a price between HK$3.28 and HK$3.49 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3033.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, July 02, 2024, and so far it has risen 2.76%. Further rise is indicated until a new top pivot has been found. 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. The Csop Hang Seng Tech Index Etf ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at HK$3.65. On a fall, the ETF will find some support from the short-term average at HK$3.56. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Csop Hang Seng Tech Index Etf ETF
Csop Hang Seng Tech Index Etf finds support from accumulated volume at HK$3.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0840 (2.41%) between high and low. For the last week, the ETF has had daily average volatility of 2.26%.
Our recommended stop-loss: HK$3.37 (-5.49%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (3033.HK) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Csop Hang Seng Tech Index Etf to open at HK$3.55, and during the day (based on 14 day Average True Range), to move between HK$3.48 and HK$3.65, which gives a possible trading interval of +/-HK$0.0866 (+/-2.43%) 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 4.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$3.53 (1.12%) than the resistance at HK$3.64 (1.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Csop Hang Seng Tech Index Etf ETF A Buy?
Csop Hang Seng Tech Index Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.637 Hold/Accumulate Upgraded
Predicted Opening Price for Csop Hang Seng Tech Index Etf of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| HK$3.55 ( 0.635%) | HK$3.57 |
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 | 3.63 | 1.72% |
| R2 | 3.60 | 0.82% |
| R1 | 3.58 | 0.264% |
| Price | 3.57 | |
| S1 | 3.51 | -1.53% |
| S2 | 3.49 | -2.09% |
| S3 | 3.46 | -2.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.73 | 4.65% |
| R2 | 3.73 | 4.54% |
| R1 | 3.64 | 1.96% |
| Price | 3.57 | |
| S1 | 3.53 | -1.12% |
| S2 | 3.50 | -1.96% |
| S3 | 3.47 | -2.69% |
FAQ
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