ChinaCache International Holdings Ltd. Fund Forecast
Big movements in ChinaCache International Holdings Ltd. fund price on Friday moving 38.60% between high and low
(Updated on Feb 07, 2020)
The ChinaCache International Holdings Ltd. fund price gained 3.64% on the last trading day (Friday, 7th Feb 2020), rising from $0.0550 to $0.0570. During the last trading day the fund fluctuated 38.60% from a day low at $0.0570 to a day high of $0.0790. The price has been going up and down for this period, and there has been a -3.23% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately $1.09 thousand.
The fund 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 fund is expected to fall -18.39% during the next 3 months and, with a 90% probability hold a price between $0.0256 and $0.0695 at the end of this 3-month period.
CCIH Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, February 06, 2020, and so far it has risen 3.64%. 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). ChinaCache International Holdings Ltd. 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 ChinaCache International Holdings Ltd. fund holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $0.0666 and $0.0645. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for ChinaCache International Holdings Ltd. fund
On the downside, the fund finds support just below today's level from accumulated volume at $0.0525 and $0.0475. There is a natural risk involved when a fund is testing a support level, since if this is broken, the fund then may fall to the next support level. In this case, ChinaCache International Holdings Ltd. finds support just below today's level at $0.0525. If this is broken, then the next support from accumulated volume will be at $0.0475 and $0.0450.
In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved $0.0220 between high and low, or 38.60%. For the last week the fund has had daily average volatility of 43.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CCIH) For The Upcoming Trading Day Of Monday 10th
For the upcoming trading day on Monday, 10th we expect ChinaCache International Holdings Ltd. to open at $0.0643, and during the day (based on 14 day Average True Range), to move between $0.0317 and $0.0823, which gives a possible trading interval of +/-$0.0253 (+/-44.43%) up or down from last closing price. If ChinaCache International Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 88.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0600 (5.26%) than the support at $0.0525 (7.89%), 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 ChinaCache International Holdings Ltd. fund A Buy?
ChinaCache International Holdings Ltd. 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 fund.
Current score: -5.155 Strong Sell Candidate Unchanged
Predicted Opening Price for ChinaCache International Holdings Ltd. of Monday, February 10, 2020
| Fair opening price February 10, 2020 | Current price |
|---|---|
| $0.0643 ( 12.87%) | $0.0570 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCIH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0863 | 51.46 % | |
| R2 | 0.0779 | 36.72 % | ||
| R1 | 0.0727 | 27.61 % | ||
| Current price: | 0.0570 | |||
| Support | S1 | 0.0559 | -1.88 % | |
| S2 | 0.0507 | -10.99 % | ||
| S3 | 0.0423 | -25.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0700 | 22.81 % | |
| R2 | 0.0650 | 14.04 % | ||
| R1 | 0.0600 | 5.26 % | ||
| Current price | 0.0570 | |||
| Support | S1 | 0.0525 | -7.89% | |
| S2 | 0.0475 | -16.67% | ||
| S3 | 0.0450 | -21.05% |
FAQ
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