Cicc Hkd Money Market Etf ETF Forecast
Green day on Thursday for Cicc Hkd Money Market Etf ETF after gaining 0.0185%
(Updated on Jun 20, 2024)
The Cicc Hkd Money Market Etf ETF price gained 0.0185% on the last trading day (Thursday, 20th Jun 2024), rising from HK$1,082.15 to HK$1,082.35. During the last trading day the ETF fluctuated 0% from a day low at HK$1,082.35 to a day high of HK$1,082.35. The price has risen in 6 of the last 10 days and is up by 0.09% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 21 shares were bought and sold for approximately HK$22.73 thousand. 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 ETF 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 Cicc Hkd Money Market Etf ETF with a 90% probability to be traded between HK$1,094.22 and HK$1,095.96 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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3071.HK Signals & Forecast
There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -0.0185%. 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 fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Cicc Hkd Money Market Etf ETF 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$1,081.62 and HK$1,077.48. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Cicc Hkd Money Market Etf ETF
Cicc Hkd Money Market Etf finds support from accumulated volume at HK$1,082.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved HK$0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.0481%
Our recommended stop-loss: HK$1,026.34 (-5.18%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (3071.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Cicc Hkd Money Market Etf to open at HK$1,082.35, and during the day (based on 14 day Average True Range), to move between HK$1,081.50 and HK$1,083.20, which gives a possible trading interval of +/-HK$0.85 (+/-0.08%) up or down from last closing price. If Cicc Hkd Money Market Etf 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.
Since the stock is closer to the support from accumulated volume at HK$1,082.15 (0.02%) than the resistance at HK$1,082.55 (0.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cicc Hkd Money Market Etf ETF 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 Cicc Hkd Money Market Etf ETF to perform well in the short-term period.
Current score: 2.580 Buy Candidate Unchanged
Predicted Opening Price for Cicc Hkd Money Market Etf of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1,082.35 ( 0%) | HK$1,082.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3071.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,082.35 | - |
| R2 | 1,082.35 | - |
| R1 | 1,082.35 | - |
| Price | 1,082.35 | |
| S1 | 1,082.35 | - |
| S2 | 1,082.35 | - |
| S3 | 1,082.35 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,082.55 | 0.0185% |
| Price | 1,082.35 | |
| S1 | 1,082.15 | -0.0185% |
| S2 | 1,081.65 | -0.0647% |
| S3 | 1,076.50 | -0.540% |
FAQ
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