Csop Ftse China A50 Index Daily (2x) ETF Forecast
Csop Ftse China A50 Index Daily (2x) ETF price down 0% on Thursday
(Updated on Jun 27, 2024)
No changes to the price of Csop Ftse China A50 Index Daily (2x) ETF on the last trading day (Thursday, 27th Jun 2024). During the last trading day the ETF fluctuated 0% from a day low at HK$3.43 to a day high of HK$3.43. The price has been going up and down for this period, and there has been a 2.02% gain for the last 2 weeks.
The ETF lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 13.31% during the next 3 months and, with a 90% probability hold a price between HK$3.73 and HK$4.04 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
7248.HK Signals & Forecast
The Csop Ftse China A50 Index Daily (2x) 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$3.41 and HK$3.24. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.0583%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Csop Ftse China A50 Index Daily (2x) ETF
Csop Ftse China A50 Index Daily (2x) finds support from accumulated volume at HK$3.37 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 0.363%
Our recommended stop-loss: HK$3.30 (-3.79%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (7248.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Csop Ftse China A50 Index Daily (2x) Leveraged Product to open at HK$3.43, and during the day (based on 14 day Average True Range), to move between HK$3.38 and HK$3.48, which gives a possible trading interval of +/-HK$0.0519 (+/-1.51%) up or down from last closing price. If Csop Ftse China A50 Index Daily (2x) Leveraged Product takes out the full calculated possible swing range there will be an estimated 3.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$3.43 (0.06%) than the support at HK$3.37 (1.69%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Csop Ftse China A50 Index Daily (2x) Leveraged Product ETF A Buy?
Csop Ftse China A50 Index Daily (2x) 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Csop Ftse China A50 Index Daily (2x) Leveraged Product of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
HK$3.43 ( 0.00000000%) | HK$3.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7248.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.43 | 0.00000000% |
R2 | 3.43 | 0.00000000% |
R1 | 3.43 | 0.00000000% |
Price | 3.43 | |
S1 | 3.43 | 0.00000000% |
S2 | 3.43 | 0.00000000% |
S3 | 3.43 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 3.43 | 0.0583% |
Price | 3.43 | |
S1 | 3.37 | -1.69% |
S2 | 3.14 | -8.40% |
S3 | 3.12 | -8.98% |
FAQ
Click here for our free guide on how to buy Csop Ftse China A50 Index Daily (2x) Leveraged Product ETF.