China Construction Bank Corp. Stock Forecast

Evaluation of China Construction Bank Corp. stock downgraded after the last trading session.
(Updated on Apr 18, 2024)

CICHY Signals & Forecast

The China Construction Bank Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $12.24 and $12.29. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, February 23, 2024, and so far it has fallen -2.52%. Further fall is indicated until a new bottom pivot has been found. 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 also not.

Support, Risk & Stop-loss for China Construction Bank Corp. stock

China Construction Bank Corp. finds support from accumulated volume at $12.34 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 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 stock During the last day, the stock moved $0.0700 between high and low, or 0.567%. For the last week the stock has had daily average volatility of 0.93%

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

Trading Expectations (CICHY) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect China Construction Bank Corp. to open at $12.38, and during the day (based on 14 day Average True Range), to move between $12.16 and $12.56, which gives a possible trading interval of +/-$0.203 (+/-1.64%) up or down from last closing price. If China Construction Bank Corp. takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.34 (0.16%) than the resistance at $12.40 (0.32%), 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 Construction Bank Corp. stock A Buy?

China Construction Bank Corp. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.052 Sell Candidate Downgraded

Predicted Opening Price for China Construction Bank Corp. of Friday, April 19, 2024

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