China Index Holdings Limited (NASDAQ:CIH) is among the top losers of the stock market today, sinking -3.05% or (-0.11 points) to $3.5 from its previous close of $3.61. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 155320 contracts so far this session. CIH shares had a relatively better volume day versus average trading capacity of 214.74 thousand shares, but with a 71.95 million float and a 4.03% run over a week, it’s definitely worth keeping an eye on. CIH share price has been trading recently between $3.57 and $3.72.
Looking at the current readings for China Index Holdings Limited, the two-week RSI stands at 49.28. This figure suggests that CIH stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CIH readings is similarly very revealing as it has a stochastic reading of 63.15% at this stage. This figure means that CIH share price today is being neutral.
Technical chart claims that China Index Holdings Limited (CIH) would settle between $3.7/share to $3.78/share level. However, if the stock price goes below the $3.55 mark, then the market for China Index Holdings Limited becomes much weaker. If that happens, the stock price might even plunge as low as $3.48 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.07. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.