China Unicom (Hong Kong) Limited (NYSE:CHU) shares have been recorded gapping down -1.14% between sessions as the stock currently sits at $11.29 before the bell.
Shares of China Unicom (Hong Kong) Limited (NYSE:CHU) gapped down -1.14% between sessions as the shares stand at $11.29 before the open.
A gap is a space between prices that occurs when the price of a stock makes a move down or up when there is no trading happening in between. Gaps are created by numerous factors. Poor earnings, bad news, organizational changes and/or market influences can cause a stock’s price to decrease suddenly.
Downward gaps occur due to both technical or fundamental factors. If a company’s earnings are much lower than expected, the company’s stock may gap down before the next trading session. This means that the stock price opened lower than it closed the day before, leaving the gap. It is not terribly uncommon for a news report to generate so much buzz that it changes demand to the point where large gap can be seen on a chart. A stock dropping to a new low in the current session may open lower in the next, gapping down for technical reasons.
China Unicom (Hong Kong) Limited (NYSE:CHU)’s performance this year to date is -5.06%. The stock has performed 2.42% over the last seven days, -2.97% over the last thirty, and -1.21% over the last three months. Over the last six months, China Unicom (Hong Kong) Limited’s stock has been 8.84% and -8.84% for the year.
SIMPLE MOVING AVERAGE
The simple moving average is the most common method used to calculate the moving average of prices. It takes the sum of all of the past closing prices over a specific time period and divides the result by the number of prices used in the calculation. Increasing the number of time periods in the calculation is an effective way to ascertain the strength of the long-term trend and/or the likelihood that it might reverse. Some argue that this type of average is not necessarily useful because each data point in the series has the exact same impact on the result no matter where it occurs in the sequence. China Unicom (Hong Kong) Limited’s 20-Day Simple Moving Average is -1.10%. Extending back, their 50-Day Simple Moving Average is -4.78%, looking even further back, their 200-Day Simple Moving Average stands at -1.58%.
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