CANGO INC. ADS - Daily - Technical analysis published on 02/27/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Bearish
Technical indicators
11%
67%
22%
My opinion
Bearish under 7.23 USD
My targets
6.64 USD (-5.55%)
6.10 USD (-13.23%)
My analysis
CANGO INC. ADS is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 7.23 USD. The next support located at 6.64 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 6.10 USD. Below this support, sellers could then target 5.62 USD.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
FORCE
0
10
5.4
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CANGO INC. ADS rating is 7.03 USD. On the day, this instrument lost -5.00% and was between 7.00 USD and 7.49 USD. This implies that the price is at +0.43% from its lowest and at -6.14% from its highest.7.00
7.49
7.03
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of CANGO INC. ADS in Daily shows an overall bearish trend. The signals given by moving averages are 67.86% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects bearish signals on moving averages that could impact this trend:
Bearish trend reversal : adaptative moving average 100
Type : Bearish
Timeframe : Daily
Bearish price crossover with Moving Average 100
Type : Bearish
Timeframe : Daily
In fact, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is under support 3
Type : Neutral
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5.62 | 6.10 | 6.64 | 7.03 | 7.23 | 7.97 | 9.26 |
| Change (%) | -20.06% | -13.23% | -5.55% | - | +2.84% | +13.37% | +31.72% |
| Change | -1.41 | -0.93 | -0.39 | - | +0.20 | +0.94 | +2.23 |
| Level | Minor | Intermediate | Minor | - | Intermediate | Major | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.95 | 7.13 | 7.26 | 7.44 | 7.57 | 7.75 | 7.88 |
| Camarilla | 7.32 | 7.34 | 7.37 | 7.40 | 7.43 | 7.46 | 7.49 |
| Woodie | 6.94 | 7.12 | 7.25 | 7.43 | 7.56 | 7.74 | 7.87 |
| Fibonacci | 7.13 | 7.25 | 7.32 | 7.44 | 7.56 | 7.63 | 7.75 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.48 | 7.00 | 7.27 | 7.79 | 8.06 | 8.58 | 8.85 |
| Camarilla | 7.31 | 7.39 | 7.46 | 7.53 | 7.60 | 7.68 | 7.75 |
| Woodie | 6.35 | 6.94 | 7.14 | 7.73 | 7.93 | 8.52 | 8.72 |
| Fibonacci | 7.00 | 7.31 | 7.49 | 7.79 | 8.10 | 8.28 | 8.58 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3.75 | 5.38 | 6.57 | 8.20 | 9.39 | 11.02 | 12.21 |
| Camarilla | 6.99 | 7.25 | 7.51 | 7.77 | 8.03 | 8.29 | 8.55 |
| Woodie | 3.54 | 5.27 | 6.36 | 8.09 | 9.18 | 10.91 | 12.00 |
| Fibonacci | 5.38 | 6.45 | 7.12 | 8.20 | 9.27 | 9.94 | 11.02 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 31.78 | |
| MACD (12,26,9): | -0.2200 | |
| Directional Movement: | -23.56 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 7.64 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.42 | |
| Elder Ray (13): | -0.52 | |
| Super Trend (3,10): | 8.49 | |
| Zig ZAG (10): | 7.03 | |
| VORTEX (21): | 0.8500 | |
| Stochastique (14,3,5): | 11.63 | |
| TEMA (21): | 7.41 | |
| Williams %R (14): | -97.92 | |
| Chande Momentum Oscillator (20): | -1.02 | |
| Repulse (5,40,3): | -9.5400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.2600 | |
| Courbe Coppock: | 7.55 |
| MA7: | 7.67 | |
| MA20: | 7.89 | |
| MA50: | 8.35 | |
| MA100: | 7.19 | |
| MAexp7: | 7.57 | |
| MAexp20: | 7.89 | |
| MAexp50: | 7.91 | |
| MAexp100: | 7.51 | |
| Price / MA7: | -8.34% | |
| Price / MA20: | -10.90% | |
| Price / MA50: | -15.81% | |
| Price / MA100: | -2.23% | |
| Price / MAexp7: | -7.13% | |
| Price / MAexp20: | -10.90% | |
| Price / MAexp50: | -11.13% | |
| Price / MAexp100: | -6.39% |
This member declared not having a position on this financial instrument or a related financial instrument.
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