CSOPHKDMMETF/UT HKD Stock Forecast
CSOPHKDMMETF/UT HKD stock price up 0.0223% on Friday
(Updated on Jun 28, 2024)
The CSOPHKDMMETF/UT HKD stock price gained 0.0223% on the last trading day (Friday, 28th Jun 2024), rising from HK$1,120.30 to HK$1,120.55. During the last trading day the stock fluctuated 0.0223% from a day low at HK$1,120.30 to a day high of HK$1,120.55. The price has risen in 6 of the last 10 days and is up by 0.2% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 95 more shares were traded than the day before. In total, 152 shares were bought and sold for approximately HK$170.32 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CSOPHKDMMETF/UT HKD stock with a 90% probability to be traded between HK$1,132.35 and HK$1,133.87 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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3053.HK Signals & Forecast
Mostly positive signals in the chart today. The CSOPHKDMMETF/UT HKD 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$1,119.91 and HK$1,117.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 20, 2024, and so far it has risen 0.543%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). CSOPHKDMMETF/UT HKD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
A buy signal from a double bottom formation was found on Monday, May 20, 2024 with a target of HK$1,110.18. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for CSOPHKDMMETF/UT HKD stock
CSOPHKDMMETF/UT HKD finds support from accumulated volume at HK$1,111.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.250 between high and low, or 0.0223%. For the last week the stock has had daily average volatility of 0.0822%.
Our recommended stop-loss: HK$1,048.00 (-6.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (3053.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect CSOPHKDMMETF/UT HKD to open at HK$1,120.47, and during the day (based on 14 day Average True Range), to move between HK$1,119.67 and HK$1,121.43, which gives a possible trading interval of +/-HK$0.88 (+/-0.08%) up or down from last closing price. If CSOPHKDMMETF/UT HKD takes out the full calculated possible swing range there will be an estimated 0.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1,111.00, some HK$9.55 (0.85%) from the current price of HK$1,120.55, our system finds the risk reward attractive.
Is CSOPHKDMMETF/UT HKD stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for CSOPHKDMMETF/UT HKD stock to perform well in the short-term period.
Current score: 2.606 Buy Candidate Unchanged
Predicted Opening Price for CSOPHKDMMETF/UT HKD of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$1,120.47 ( 0.0074%) | HK$1,120.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3053.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,120.72 | 0.0149% |
| R2 | 1,120.62 | 0.0064% |
| R1 | 1,120.56 | 0.0011% |
| Price | 1,120.55 | |
| S1 | 1,120.37 | -0.0160% |
| S2 | 1,120.31 | -0.0212% |
| S3 | 1,120.22 | -0.0297% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,120.55 | |
| S1 | 1,111.00 | -0.85% |
| S2 | 1,110.70 | -0.88% |
| S3 | 1,108.85 | -1.04% |
FAQ
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