CNXT Stock VanEck ChiNext ETF (CNXT, $28.9) Moving Average Convergence Divergence (MACD) Histogram turned negative on October 14, 2024
CNXT in downward trend: price may drop because broke its higher Bollinger Band on October 07, 2024
CNXT broke above its upper Bollinger Band on October 07, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 32 similar instances where the stock broke above the upper band. In of the 32 cases the stock fell afterwards. This puts the odds of success at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for CNXT moved out of overbought territory on October 08, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 23 similar instances where the indicator moved out of overbought territory. In of the 23 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on October 14, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on CNXT as a result. In of 80 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for CNXT turned negative on October 14, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CNXT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
CNXT moved above its 50-day moving average on September 24, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for CNXT crossed bullishly above the 50-day moving average on September 26, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The 50-day moving average for CNXT moved above the 200-day moving average on October 08, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a +3 3-day Advance, the price is estimated to grow further. Considering data from situations where CNXT advanced for three days, in of 297 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 211 cases where CNXT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
General Information
Category PacificAsiaexJapanStk