China National Building Material Co Ltd Stock Forecast

On Friday, China National Building Material Co Ltd stock price gained an impressive 9.00%
(Updated on May 10, 2024)

3323.HK Signals & Forecast

Mostly positive signals in the chart today. The China National Building Material Co Ltd 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$3.05 and HK$2.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 26.49%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for China National Building Material Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$3.08 and HK$3.05. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China National Building Material Co Ltd finds support just below today's level at HK$3.08. If this is broken, then the next support from accumulated volume will be at HK$3.05 and HK$2.77.

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$0.250 between high and low, or 7.91%. For the last week, the stock has had daily average volatility of 5.24%.

Our recommended stop-loss: HK$3.27 (-3.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (3323.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect China National Building Material Company Limited to open at HK$3.32, and during the day (based on 14 day Average True Range), to move between HK$3.24 and HK$3.54, which gives a possible trading interval of +/-HK$0.149 (+/-4.38%) up or down from last closing price. If China National Building Material Company Limited takes out the full calculated possible swing range there will be an estimated 8.77% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ HK$3.08, some HK$0.310 (9.14%) from the current price of HK$3.39, our system finds the risk reward attractive.

Is China National Building Material Company Limited stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for China National Building Material Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.478 Strong Buy Candidate Upgraded

Predicted Opening Price for China National Building Material Company Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.