VOLUME
Buy
TREND
Hold
MV LONG
Buy

MV SHORT
Buy

PIVOT
Buy

MACD
Sell

Will CNCT.L stock price go up or down on Wed, 22 May 2019?

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China Teletech Hldgs Inc Forecast and Stock Analysis

Technical CNCT.L stock analysis for Monday May 20, 2019.

Hold candidate since 2019-05-20


China Teletech Hldgs Inc gained 1.97% in the last trading day ( Monday, 20th May 2019 ), rising from £38.10 to £38.85 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 1.30% from a day low at £38.50 to a day high of £39.00. The price has risen in 5 of the last 10 days and is up by 0.39% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 69 623 more shares were traded than the day before. In total, 94 341 shares bought and sold for approximately £3.67 million.

Quick summary:

  • 30 day high of the CNCT.L stock price was £39.60 and low was £36.40.
  • 90 day high was £40.40 and low was £36.40.
  • 52 week high for the China Teletech Hldgs Inc - £59.00 and low - £17.00.

Trend

China Teletech Hldgs Inc is the upper part of a horizontal trend and normally this would pose a good selling opportunity, but a break-up through the top trend line at £39.20 will give a strong buy signal and a trend shift may be expected. Given the current horizontal trend you can expect China Teletech Hldgs Inc with 90% probability to be traded between £35.97 and £38.72 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Click here for today's Top 5 Trending Companies

Signals

China Teletech Hldgs Inc holds buy signals from both short- and long-term moving averages, 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 £37.73 and £38.15. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday May 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

The stock had a Golden Star Signal* on Wednesday April 03, 2019 in the short-term chart.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Access today's Top 5 Golden Star Companies

Relative Strength Index (RSI)

RSI14 is 54 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

China Teletech Hldgs Inc finds support from accumulated volume at £38.50.

Support: £38.50 Price: £38.85 Resistance: £39.00

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved £0.50 (1.30%) between high and low. For the last week, the stock has had a daily average volatility of 1.28%.

Our recommended stoploss: £36.91 (-5.01%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 8 days ago.)

1.28 %

Average volatility

Overall risk:

Very Low Low Medium High Very High

Evaluation:

China Teletech Hldgs Inc holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.

Hold/Accumulate Upgraded
Previous Hold Today CNCT.L ranks #1483 as HOLD CANDIDATE #1483 Next Hold

Will CNCT.L stock price go up or down
on Wed, 22 May 2019?

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