Red day on Friday for China Finance Online Co. Limited
(Updated on Nov 26, 2021)
Buy candidate since 2021-11-18 Gain 1.21% PDF
The China Finance Online Co. Limited stock price fell by -1.04% on the last day (Friday, 26th Nov 2021) from $6.74 to $6.67. During the day the stock fluctuated 5.26% from a day low at $6.46 to a day high of $6.80. The price has been going up and down for this period, and there has been a 3.25% gain for the last 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 thousand shares were bought and sold for approximately $86.20 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.61 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 34.96% during the next 3 months and, with a 90% probability hold a price between $8.92 and $13.73 at the end of this 3-month period.
Signals & Forecast
The China Finance Online Co. Limited 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 $6.56 and $6.59. 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 Thursday, October 21, 2021, and so far it has fallen -26.94%. Further fall is indicated until a new bottom pivot has been found. China Finance Online Co. Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss
On the downside, the stock finds support just below today's level from accumulated volume at $6.28 and $6.15. There is 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 Finance Online Co. Limited finds support just below today's level at $6.28. If this is broken, then the next support from accumulated volume will be at $6.15 and $5.02.
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 $0.34 between high and low, or 5.26%. For the last week, the stock has had a daily average volatility of 3.51%.
Our recommended stop-loss: $6.34 (-4.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Is China Finance Online Co. Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Finance Online Co. Limited stock to perform well in the short-term.
Current score: 1.055
Predicted Opening Price for China Finance Online Co. Limited of Monday, November 29, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price November 29, 2021||Current price|
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