Momentum Indicator for CADHKD turns negative, indicating new downward trend
CADHKD saw its Momentum Indicator move below the 0 level on December 03, 2024. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 131 similar instances where the indicator turned negative. In of the 131 cases, the stock moved further down in the following days. The odds of a decline are at .
Technical Analysis (Indicators)
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CADHKD declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for CADHKD entered a downward trend on December 22, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where CADHKD's RSI Indicator exited the oversold zone, of 37 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 85 cases where CADHKD's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for CADHKD just turned positive on December 22, 2024. Looking at past instances where CADHKD's MACD turned positive, the stock continued to rise in of 101 cases over the following month. The odds of a continued upward trend are .
CADHKD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
CADHKD and Forex
Correlation & Price change
A.I.dvisor tells us that CADHKD and HKDCAD have been negatively correlated (-100% of the time) for the last year. This A.I.-generated data suggests there is some statistical probability that CADHKD and HKDCAD's prices could move in opposite directions.
| Ticker / NAME | Correlation To CADHKD | 1D Price Change % | ||
|---|---|---|---|---|
| CADHKD | 100% | -0.01% | ||
| HKDCAD - CADHKD | -100% Negatively correlated | +0.51% |