China Teletech Hldgs Inc Forecast and Stock Analysis
Technical CNCT.L stock analysis for Monday May 20, 2019.
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.
- 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.
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.
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.
* 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.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
China Teletech Hldgs Inc finds support from accumulated volume at £38.50.
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
Very Low Low Medium High Very High
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.
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