RSI low/high Values: [ 25 - 75 ]
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AI Analysis of OCFT
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Green day on Wednesday for OneConnect Financial Technology Co.,
(Updated on Mar 27, 2024)

Sell candidate since Mar 25, 2024 Gain 0.45% PDF

The OneConnect Financial Technology Co., stock price gained 1.84% on the last trading day (Wednesday, 27th Mar 2024), rising from $2.17 to $2.21. During the last trading day the stock fluctuated 6.88% from a day low at $2.18 to a day high of $2.33. The price has fallen in 6 of the last 10 days and is down by -9.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $29.84 thousand.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -25.54% during the next 3 months and, with a 90% probability hold a price between $1.27 and $1.80 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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OCFT Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 5.24%. Further rise is indicated until a new top pivot has been found. OneConnect Financial Technology Co., has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The OneConnect Financial Technology Co., stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $2.23 and $2.25. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for OneConnect Financial Technology Co., stock

OneConnect Financial Technology Co., finds support from accumulated volume at $2.18 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 $0.150 between high and low, or 6.88%. For the last week, the stock has had daily average volatility of 5.30%.

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

Trading Expectations (OCFT) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect OneConnect Financial Technology Co., Ltd. to open at $2.24, and during the day (based on 14 day Average True Range), to move between $2.04 and $2.38, which gives a possible trading interval of +/-$0.169 (+/-7.65%) up or down from last closing price. If OneConnect Financial Technology Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.29% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $2.18 (1.36%) than the resistance at $2.25 (1.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is OneConnect Financial Technology Co., Ltd. stock A Buy?

OneConnect Financial Technology Co., holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.349 Sell Candidate Unchanged

Predicted Opening Price for OneConnect Financial Technology Co., Ltd. of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$2.24 ( 1.36%) $2.21

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

Trading levels for OCFT

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.39 8.14 %
R2 2.33 5.55 %
R1 2.30 3.95 %
Current price: 2.21
Support S1 2.18 -1.24 %
S2 2.15 -2.84 %
S3 2.09 -5.43 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 2.65 19.91 %
R2 2.33 5.43 %
R1 2.25 1.81 %
Current price 2.21
Support S1 2.18 -1.36%
S2 2.15 -2.71%
S3 2.13 -3.62%

FAQ

What is the symbol for OneConnect Financial Technology Co., Ltd. Stock and on which exchange is it traded?
The symbol for OneConnect Financial Technology Co., Ltd. is OCFT and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell OneConnect Financial Technology Co., Ltd. Stock?
OneConnect Financial Technology Co., holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

How to buy OneConnect Financial Technology Co., Ltd. Stock?
OneConnect Financial Technology Co., Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy OneConnect Financial Technology Co., Ltd. Stock.

What's the current price of OneConnect Financial Technology Co., Ltd. Stock?
As of the end of day on the 2024-03-27, the price of an OneConnect Financial Technology Co., Ltd. (OCFT) share was $2.21.

What is the 52-week high and low for OneConnect Financial Technology Co., Ltd. Stock?
The 52-week high for OneConnect Financial Technology Co., Ltd. Stock is $6.00 and the 52-week low is $2.08.

What is the market capitalization of OneConnect Financial Technology Co., Ltd. Stock?
As of the 2024-03-27, the market capitalization of OneConnect Financial Technology Co., Ltd. is 89.845M.

When is the next earnings date for OneConnect Financial Technology Co., Ltd.?
The upcoming earnings date for OneConnect Financial Technology Co., Ltd. is May 27, 2024.
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About OneConnect Financial Technology Co., Ltd.

OneConnect Financial Technology Co. Ltd. OneConnect Financial Technology Co., Ltd. provides cloud-platform-based Fintech solutions, and online information and operating support services for financial institutions in the People's Republic of China. It offers digital retail banking, digital commercial banking, digital auto insurance and life insurance, and artificial intelligence customer services, as well as sales management, risk management, and operation support services. The company a... OCFT Profile

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