Technical Analysis: Outlook Remains Downbeat for STAR-Listed Electronics Stocks

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Anji Microelectronics


Anji Microelectronics Technology Shanghai Co Ltd last traded at an average intraday price of 216.95 CNY, with the last closing price at 221.91 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of 15.85 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 282.3, in line with the current bullish price trend. Notably, the VROC indicator has been bullish over the prior week, while over the last month, the indicator has screened as bullish.



Based on the current price action, trader sentiment screens as bearish, as the stock has experienced a further four bullish days over the last month and 122 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 59.5 as of the most recent close, with a trailing 3-day RSI of 99.7, a trailing 9-day RSI of 65.7, and a trailing 30-day RSI of 31.1. Thus, the latest RSI, which screens as bullish, compares to the month-long bearish trend.



Espressif Systems Shanghai


Espressif Systems Shanghai Co Ltd last traded at an average intraday price of 105.56 CNY, with the last closing price at 105.25 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of 2.3 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 50.9, 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 two up days over the last week, with a further ten bullish days over the last month and 105 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 60.0 as of the most recent close, with a trailing 3-day RSI of 78.1, a trailing 9-day RSI of 54.6, and a trailing 30-day RSI of 25.4. Thus, the latest RSI, which screens as bullish, compares to the month-long bearish trend.



Guangzhou Fangbang Electronics


Guangzhou Fangbang Electronics Co Ltd last traded at an average intraday price of 73.33 CNY, with the last closing price at 73.45 CNY. Based on the stock's average daily change (ADC), the current price momentum is bearish, with a net change of -6.17 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 12.4, 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 bearish, as the stock has experienced a further seven bullish days over the last month and 119 up days over the last year. On balance, the psychological trend has been bearish.



Finally, the stock's relative strength indicator (RSI) reached 27.5 as of the most recent close, with a trailing 3-day RSI of 99.6, a trailing 9-day RSI of 56.5, and a trailing 30-day RSI of 32.7. Thus, the latest RSI, which screens as bearish, compares to the month-long bearish trend.



Sources:


https://uk.tradingview.com/symbols/SSE-688019/


https://uk.tradingview.com/symbols/SSE-688018/


https://uk.tradingview.com/symbols/SSE-688020/

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