CNFinance Holdings Limited Stock Forecast
CNFinance Holdings Limited stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The CNFinance Holdings Limited stock price gained 1.76% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.70 to $1.73. During the last trading day the stock fluctuated 5.39% from a day low at $1.67 to a day high of $1.76. The price has risen in 6 of the last 10 days and is up by 3.59% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 13 thousand shares were bought and sold for approximately $21.69 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.
Given the current short-term trend, the stock is expected to fall -21.69% during the next 3 months and, with a 90% probability hold a price between $1.04 and $1.35 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CNF Signals & Forecast
The CNFinance Holdings Limited 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 $1.69 and $1.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 15.33%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for CNFinance Holdings Limited stock
CNFinance Holdings Limited finds support from accumulated volume at $1.67 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0900 between high and low, or 5.39%. For the last week the stock has had daily average volatility of 9.10%.
Our recommended stop-loss: $1.68 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 77 days ago.)
Trading Expectations (CNF) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect CNFinance Holdings Limited to open at $1.72, and during the day (based on 14 day Average True Range), to move between $1.60 and $1.86, which gives a possible trading interval of +/-$0.126 (+/-7.27%) up or down from last closing price. If CNFinance Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.67 (3.47%) than the resistance at $1.84 (6.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
CNFinance Holdings Limited will release earnings BMO on Friday, June 28, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.140. We will update the financials statements for CNFinance Holdings Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.75% in the first trading day after earnings release.
Is CNFinance Holdings Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.776 Buy Candidate Upgraded
Predicted Opening Price for CNFinance Holdings Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $1.72 ( 0.578%) | $1.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.81 | 4.62% |
| R2 | 1.78 | 2.64% |
| R1 | 1.75 | 1.41% |
| Price | 1.73 | |
| S1 | 1.69 | -2.57% |
| S2 | 1.66 | -3.79% |
| S3 | 1.63 | -5.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.03 | 17.34% |
| R2 | 1.85 | 6.94% |
| R1 | 1.84 | 6.36% |
| Price | 1.73 | |
| S1 | 1.67 | -3.47% |
| S2 | 1.65 | -4.62% |
| S3 | 1.61 | -6.94% |
FAQ
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