CNYHKD's Indicator enters downward trend
The Aroon Indicator for CNYHKD entered a downward trend on December 08, 2024. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 257 similar instances where the Aroon Indicator formed such a pattern. In of the 257 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on December 11, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on CNYHKD as a result. In of 154 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 CNYHKD turned negative on December 16, 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 121 similar instances when the indicator turned negative. In of the 121 cases the stock turned lower in the days that followed. This puts the odds of success at .
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 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.
CNYHKD may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
CNYHKD and Forex
Correlation & Price change
A.I.dvisor tells us that CNYHKD and HKDCNY have been negatively correlated (-73% of the time) for the last year. This A.I.-generated data suggests there is some statistical probability that CNYHKD and HKDCNY's prices could move in opposite directions.
| Ticker / NAME | Correlation To CNYHKD | 1D Price Change % | ||
|---|---|---|---|---|
| CNYHKD | 100% | N/A | ||
| HKDCNY - CNYHKD | -73% Negatively correlated | N/A |