Technical Analysis: Bearish Price Action Trends Hinder Mid-Cap Brokerage Outlook

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Guosen Securities


Guosen Securities Co Ltd last traded at an average intraday price of 11.99 CNY, with the last closing price at 11.69 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of -0.23 CNY for the day. The current momentum compares to the bearish momentum seen in the prior day and the bearish momentum seen over the prior week.



The price currently trades below its 30-day moving average and has continually traded below its trailing 30-day MA over the last week. This serves as a bearish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at 12.5, in line with the current bullish price trend. Notably, the VROC indicator has been bearish over the prior week, while over the last month, the indicator has screened as bearish.



Based on the current price action, trader sentiment screens as bullish, as the stock has experienced five up days over the last week, with a further five bullish days over the last month and 109 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 52.2 as of the most recent close, with a trailing 3-day RSI of 26.3, a trailing 9-day RSI of 42.9, and a trailing 30-day RSI of 43.6. Thus, the latest RSI, which screens as bullish, compares to the month-long bearish trend.



Polaris Bay


Polaris Bay Group Co Ltd (formerly Hebei Baoshuo) last traded at an average intraday price of 10.26 CNY, with the last closing price at 10.26 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of -0.05 CNY for the day. The current momentum compares to the bearish momentum seen in the prior day and the bearish momentum seen over the prior week.



The price currently trades below its 30-day moving average and has continually traded below its trailing 30-day MA over the last week. This serves as a bearish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at -27.0, in line with the current bearish price trend. Notably, the VROC indicator has been bearish over the prior week, while over the last month, the indicator has screened as bearish.



Based on the current price action, trader sentiment screens as bearish, as the stock has experienced a further three bullish days over the last month and 86 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 47.6 as of the most recent close, with a trailing 3-day RSI of 68.8, a trailing 9-day RSI of 45.3, and a trailing 30-day RSI of 33.7. Thus, the latest RSI, which screens as bearish, compares to the month-long bearish trend.



Ruida Futures


Ruida Futures Co Ltd last traded at an average intraday price of 20.99 CNY, with the last closing price at 21.19 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of -0.07 CNY for the day. The current momentum compares to the bearish momentum seen in the prior day and the bearish momentum seen over the prior week.



The price currently trades below its 30-day moving average and has continually traded below its trailing 30-day MA over the last week. This serves as a bearish sign for the short-term price outlook.



Meanwhile, the volume rate of change (VROC) indicator stands at -17.6, in line with the current bearish price trend. Notably, the VROC indicator has been bearish over the prior week, while over the last month, the indicator has screened as bearish.



Based on the current price action, trader sentiment screens as bearish, as the stock has experienced six up days over the last week, with a further 13 bullish days over the last month and 103 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 49.4 as of the most recent close, with a trailing 3-day RSI of 70.1, a trailing 9-day RSI of 51.8, and a trailing 30-day RSI of 42.7. Thus, the latest RSI, which screens as bearish, compares to the month-long bearish trend.



Sources:


https://uk.tradingview.com/symbols/SZSE-002736/


https://uk.tradingview.com/symbols/SSE-600155/


https://uk.tradingview.com/symbols/SZSE-002961/

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