China Railway Signal & Communication Stock Forecast

Red day on Friday for China Railway Signal & Communication
(Updated on May 03, 2024)

3969.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Railway Signal & Communication stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$3.10 and HK$3.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -9.45%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for China Railway Signal & Communication stock

China Railway Signal & Communication finds support from accumulated volume at HK$2.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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$0.0300 between high and low, or 1.01%. For the last week, the stock has had daily average volatility of 3.43%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3969.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Railway Signal & Communication Corporation Limited to open at HK$2.98, and during the day (based on 14 day Average True Range), to move between HK$2.85 and HK$3.09, which gives a possible trading interval of +/-HK$0.116 (+/-3.91%) up or down from last closing price. If China Railway Signal & Communication Corporation Limited takes out the full calculated possible swing range there will be an estimated 7.82% 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$2.96 (0.34%) than the resistance at HK$3.10 (4.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Railway Signal & Communication Corporation Limited stock A Buy?

The China Railway Signal & Communication stock holds several negative signals and despite the positive trend, we believe China Railway Signal & Communication will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.973 Sell Candidate Unchanged

Predicted Opening Price for China Railway Signal & Communication Corporation Limited of Monday, May 6, 2024

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