Introductory tutorial for trading stocks

First, the basic concept

1. What is a stock?

Shares are the certificates that a joint-stock company gives to shareholders as a certificate of investment and a certificate for claiming dividends. Stocks, like ordinary commodities, have a price, can be bought and sold, and can be used as collateral. A joint-stock company raises funds with the help of bank shares. Investors buy shares to receive a certain amount of dividend income. Stocks have the following characteristics:

-- Authority and responsibility. As a certificate of property rights or equity, a stock is a securities table of shares, which represents a certain amount of rights and responsibilities that shareholders have over the company in which the shares are issued. Shareholders' equity is directly proportional to the proportion of their shares in the company's share capital.

-- Indefinite. Stock investment is a long-term investment with no definite term, and investors generally cannot withdraw their shares as long as the company has deposits.

-- Liquidity. As a kind of security, stocks can be used as collateral and can be transferred and sold in the stock market at any time for cash, so they become a highly liquid asset and financing tool. -- Risk. In addition to receiving a certain amount of dividends, stock investors may also earn bid-ask spread profits in the stock market. However, the uncertainty of investment returns makes stock investment risky, and the higher the expected return, the greater the risk. The poor operating conditions of stock companies, or even bankruptcy, large fluctuations in the stock market and investors' own decision-making mistakes may bring different risks to investors. -- Legality. Shares must be approved and registered by the relevant authorities, and the legal matters must be recorded in a statutory form. Buying stocks is a financial investment behavior, which is a high-risk behavior compared to bank savings deposits and buying bonds, but at the same time it can also bring people greater returns.

What are the benefits of buying stocks? Since the main purpose of people investing in stocks is not to act as shareholders of enterprises and enjoy shareholder rights, the benefits of buying stocks are mainly reflected in the following aspects: 1. There are returns from listed companies every year, such as dividends and bonus shares. 2. Be able to trade in the stock market and obtain the income of the bid-ask spread. 3. Be able to enjoy the benefits of equity expansion when the performance of the listed company grows and the scale of operation expands. This is mainly achieved through the issuance of shares, the conversion of capital reserve into share capital, and the allotment of shares. (4) Be able to sell at any time in the stock market and obtain cash for immediate needs. (5) In the period of inflation, investing in good stocks can also avoid currency depreciation and have the effect of preserving value.

2. What are composite indices and component indices?

Indices that reflect changes in stock market indices include SH Composite Index, Shenzhen Component Index, etc. At the same time, there is also a 3O component index in Shanghai. The biggest differences between the Composite Index and the Component Index are:

The composite index is calculated on the basis of the entire equity of the stock. The constituent index is calculated on the basis of the outstanding share capital of the stock only.

For example, SC Changhong (6oo839), the total share capital at the end of 1997 was 10,000 shares, of which the tradable shares were 10,000 shares, and the rest of the state-owned shares, corporate shares and transfer shares could not be tradable.

Therefore, when Changhong is included in the SSE 3O Component Index, only the number of outstanding shares is calculated. The same is true for Shenzhen Stock Exchange Component Indexes, such as Shenzhen Extension (OOO1), with a total share capital of 10,000 shares at the end of 1997, which is calculated based on 10,000 shares of outstanding shares. If the composite index is calculated, the total equity is included in the calculation. Therefore, it is not reasonable for the composite index to include non-liquid equity in the calculation of dynamics. The selection range of the component index is only carried out in 3o-4o stocks, which has certain limitations. Investors should combine the Composite Index and the Component Index for analysis. It is free from currency depreciation and has the effect of preserving value.

3. What are common stocks, preferred stocks, high-performing stocks, junk stocks, blue chip stocks, and red chip stocks?

*Common stock refers to the shares that enjoy ordinary rights in the company's management and profit and distribution of property, representing the right to claim the company's profits and residual property after satisfying all the claims for repayment of claims and the claims of the preferred shareholders, it forms the basis of the company's capital, is a basic form of stock, and is also the largest and most important stock.

The stocks currently traded on the SH and Shenzhen stock exchanges are all ordinary shares.

*Preferred stock is a stock in which the company gives investors certain preferences when raising funds, and this preference is mainly expressed in two aspects:

1. Preferred shares have a fixed dividend, which does not fluctuate with the company's performance, and can receive dividends before ordinary shareholders;

2. When the company goes bankrupt and the property is liquidated, the preferred shareholders have the right to claim the remaining property of the company. However, preferred shares generally do not participate in the company's dividend distribution, and shareholders have no voting rights and cannot participate in the company's operation and management with the help of voting rights. As a result, preferred equity is less risky than common stock, although it has limited returns and decision-making rights.

*As the name suggests, a high-performing stock is a stock of a high-performing company, but the definition of a high-performing stock varies from home to country. In China, the main indicators for investors to measure high-performing stocks are after-tax profit per share and return on equity. Generally speaking, the after-tax profit per share is in the upper middle position among all listed companies, and stocks with a significant return on net assets of more than 1o% for three consecutive years after listing are among the top performing stocks. Performing stocks have a high return on investment and investment value.

*Junk stocks refer to stocks of companies that are performing poorly. Such listed companies may even enter the ranks of losses due to poor industry prospects or poor management. Its stock performance in the market is sluggish, the stock price is lower, trading is inactive, and the year-end dividend is also poor. When investors consider choosing these stocks, they should have a relatively high sense of risk and avoid blindly following the trend of speculation.

* Blue Chips - In the stock market, investors refer to the stocks of large companies that occupy an important dominant position in their respective industries, have good performance, are actively traded and have good dividends. The term "blue chips" originated in Western casinos. In Western casinos, there are two colors of chips, with blue chips being the most valuable, followed by red chips and white chips. Investors apply these jargon to stocks, and they have this term.

*The concept of red chips was born in the Hong Kong stock market in the early 90s. The People's Republic of China is sometimes referred to internationally as Red China, and accordingly, Hong Kong and international investors refer to those stocks registered overseas and listed in Hong Kong with the concept of China's Big 6 as red chips.

4. What is allotment and transfer of allotment?

Allotment of shares is an act of a listed company to increase new shares to the original shareholders in accordance with the needs of the company's development and in accordance with the relevant regulations and corresponding procedures to further raise funds. According to the usual practice, the original shareholders have the right of first refusal when the company allocates shares.

The transfer of allotment shares refers to the shares subscribed by the shareholders of the public shares when the listed company allotments shares, and the shareholders of state-owned shares or corporate shares transfer the allotment shares to the public due to lack of cash and other reasons. The transfer of allotment shares is a unique variety of China's stock market, which was produced from 1994 to 1997. According to the relevant regulations of the China Securities Regulatory Commission, the allotment shares have not been able to be listed and circulated in the past.

In order to promote the healthy development of the securities market, the China Securities Regulatory Commission decided in March 2ooo that the transfer of shares will start in April and gradually arrange the listing and circulation in about 24 months. The way of listing is to enter the secondary market in phases and batches 6 according to the time sequence of the transfer of shares. If the company has multiple transfers, the listing order shall be determined according to the time of the secondary transfer of shares, and all of them shall be arranged for listing at the same time.

A total of 168 companies in Shanghai and Shenzhen have implemented the re-allotment of shares, with a total of about 3.3O5 billion shares, accounting for 3.96% of the number of A-shares outstanding in the two cities. Therefore, the listing of re-allotment shares is a limited market expansion, and generally speaking, it has little impact on the overall market, but for individual stocks that are transferred to allotments, there is a certain risk. When shareholders buy shares, they should consider whether the listed company has a transfer of shares.

5. What is the market capitalization and market capitalization?

In China, the share structure of listed companies is divided into state-owned shares, corporate shares, individual shares, etc. At present, individual public shares can be listed and traded. The total number of shares outstanding in this part is multiplied by the market price of the stock, which is the market value of the shares. For example, Jiuzhou shares (O653), the outstanding shares are 64.96 million shares, the closing price on December 4, 1998 is 7.11 yuan, and its circulating market value is: = (10,000 yuan). The total market value is the total number of shares multiplied by the market price. For example, the total share capital of Jiuzhou shares is 10,000 shares, and the total market value on December 4 is 184743 million yuan.

6. What are state-owned shares, corporate shares, and public shares?

It is divided according to the investment entity. The shares of listed companies in China can be divided into state-owned shares, corporate shares and public shares.

State-owned shares refer to the shares formed by investing in the company with state-owned assets on behalf of the departments or institutions that have the right to invest in the same family. Including shares converted from the company's existing state-owned assets. For example, as of June 3o, 1999, Shanghai Yili shares (6oo887) held 10,000 shares by the state, which refers to state-owned shares.

Corporate shares refer to the shares formed by the investment of enterprise legal persons or public institutions and social organizations with legal personality in the non-listed and circulating equity of the company with their legally operable assets. At present, in the equity structure of listed companies in China, corporate shares account for about 2o% on average. Ditto, Shanghai Yili shares (6oo887) domestic legal person holds 10,000 shares, that is, corporate shares.

Public shares refer to the shares formed by individuals and institutions within the territory of China who invest in the company's marketable and tradable equity with their legal property. The stocks traded in the stock market by Chinese investors through the accounts of more than 4ooo shareholders are all public shares. China's company law stipulates that the number of shares held by a single natural person shall not exceed 5% of the company's shares.

China's state-owned shares and legal shares cannot be listed and traded at present. If a state shareholder or a corporate shareholder wants to transfer equity, it may, within the scope permitted by law and with the approval of the competent securities authority, sign a transfer agreement with a qualified institutional investor to complete the transfer of the bulk equity at one time.

Since the proportion of state shares and corporate shares in the total share capital exceeds 7o on average, in most cases, in order to obtain a controlling stake in a listed company, the acquirer needs to agree to acquire a large amount of equity from the original state shareholders and corporate shareholders. Recently. With the development of asset restructuring activities such as mergers and acquisitions, shell acquisitions, backdoor transactions, etc., the transfer of state-owned dividend corporate shares has gradually increased. For example, in 1995, China FAW Group Corporation agreed to acquire 500 million national shares of "Shenyang Jinbei", making its controlling ratio reach 51%, and Shenyang Jinbei was renamed FAW Jinbei and incorporated into FAW Group. Except for a small number of company employee shares, internal employee shares and transfer shares, the listing and circulation are subject to certain restrictions. The vast majority of public shares can be listed and traded.

7. What is trading volume and trading volume?

For example, if the trading volume of a stock is shown as 1ooo shares, this indicates that the buyer and seller are willing to do so, i.e., the buyer buys 1ooo shares and the seller sells 1ooo shares. At the time of calculation, the trading volume is 1ooo shares. However, if the volume is calculated, then the calculation is bilateral, and the buyer's 1ooo share plus the buyer's 1ooo share is counted as 2ooo shares.

Therefore, there is a difference between volume and volume.

8. What is the gift of shares and the transfer of shares?

Many investors confuse bonus shares with the conversion of share capital, but in fact, there is a difference between the two.

Bonus shares are when a listed company keeps the company's profits for the year and puts shares as dividends, so as to convert profits into share capital. After the bonus shares, the total structure of the company's assets, liabilities and shareholders' equity has not changed, but the total share capital has increased, and the net assets per share have decreased. The conversion of share capital refers to the conversion of capital reserve into share capital, which does not change the rights and interests of shareholders, but increases the scale of share capital, so the objective result is similar to that of bonus shares. The essential difference between the conversion of share capital and the bonus share is that the bonus share comes from the company's annual after-tax profit, and the bonus share can only be given to shareholders if the company has a surplus; The increase in share capital comes from the capital reserve, which can not be limited by the amount and time of the company's distributable profits this year, as long as the capital reserve on the company's books is reduced ~ some, and the corresponding registered capital can be increased.

Most of China's listed companies return shareholders in the form of bonus shares, which is rare in foreign mature stock markets. Chinese investors are very fond of the high proportion of allotments of listed companies, and major institutions often use the theme of high allotments to hype up. Foreign investors, on the other hand, pay more attention to cash dividends, so H-share companies mostly take cash dividends.

9. What are sT shares and pT shares?

sT shares

On April 22, 1998, the Shanghai and Shenzhen Stock Exchanges announced that, in accordance with the stock listing rules implemented in 1998, special treatment would be given to the stock transactions of listed companies with abnormal financial or other conditions. The above-mentioned abnormalities in financial position or other conditions mainly refer to two situations, one is that the audited net profit of the listed company for two consecutive fiscal years is negative, and the other is that the audited net assets per share of the listed company in the most recent fiscal year are lower than the par value of the shares. During the period when the stock trading of a listed company is subject to special treatment, its stock trading shall comply with the following rules: (1) the daily rise and fall of the stock quotation is limited to 5%; (2) The name of the stock is changed to add "sT" before the original stock name, such as "sT Liao Materials"; (3) The interim report of the listed company must be audited. Due to the daily rise and fall limit of 5% for sT stocks, it also curbs the deliberate speculation of market makers on a certain extent. Investors should also be treated differently for stocks that are treated differently. According to the specific analysis of specific problems, some sT shares are mainly operating losses, so it is difficult to strengthen management and turn losses into profits in the short term. Some sT shares are due to losses due to special reasons, or some sT shares are undergoing asset restructuring, and these stocks often have great potential.

pT shares

The abbreviation of "pT" is an abbreviation for partinetsfer (meaning special transfer). This is intended to be suspended on

The city stock provides a "special transfer service" through the circulation channel. For the stocks subject to this "special transfer", the Shanghai and Shenzhen stock exchanges will be named "pT" before their abbreviation, and they will be called "pT shares".

According to the provisions of the Company Law and the Securities Law, if a listed company has suffered losses for three consecutive years, its stock listing will be suspended. Since July 9, 1999, the Shanghai and Shenzhen Stock Exchanges have implemented a "special transfer service" for such suspended shares. The first batch of such stocks were "pT Shuanglu", "pT Rural Trading Company", "pT Susanshan" and "pT Yutaibai".

There are four main differences between special transfers and normal stock transactions: (1) The trading hours are different. Special transfers are limited to market opening hours every Friday and are not available for continuous trading on a daily basis. (2) The price limit is different. The declared price of the special transfer stock shall not exceed 5% above or below the previous transfer price, (Article source: Stock Market Ma Jing.) The same daily change as the sT stock. (3) The matching method is different, and the special transfer means that the exchange will match all valid declarations of the stock on the day according to the call auction method at one time after the market closes, resulting in a unique transaction price, and all orders that meet the transaction conditions will be traded at this price. (4) The nature of the transaction is different. The special transfer of shares is not listed and traded, therefore, such stocks are not included in the index calculation, the number of transactions is not included in the market statistics, and the transfer information is not displayed in the exchange market, and only the designated newspapers and periodicals set up a column to announce it on the next day.

The launch of the "Special Transfer Service" is designed in accordance with the provisions of the Company Law that "the shares held by shareholders of a joint-stock company may be transferred in accordance with the law". Its implementation can not only provide a legal trading venue for suspended stocks, but also remind investment risks, which is conducive to protecting the legitimate rights and interests of the majority of investors.

1o. What does "n, xR, xd, dR, g" mean?

On the listing day of a new stock in Shenzhen and Shanghai, an "n" is added before the Chinese name of the new stock to remind investors. All stocks with an "n" before the stock name are new shares listed on the same day.

“xd”是“exitdivident”的缩写，是指除息的意思；

“xR”是“exitright”的缩写，意思是除权；

“dR”是“exitdividentandright”的缩写，意思是除息和除权。 

"G" shares: Since Sany Heavy Industry, which implemented the shareholding division reform, resumed trading on June 17 and changed its stock abbreviation to "G 31", a new term called G shares has been added to the Shenzhen and Shanghai stock markets.

The so-called G shares are the shares that have been reformed by the division of shares and resumed trading. Because the first Chinese pinyin letter of the first word "share" in the "equity division reform" is g (g), in order to distinguish it from other stocks, a unique logo - "g" is added before the abbreviation of this stock. (Article source: stock market Ma Jing) may appear in the future a "G share sector", although there are only two G shares Sany and Taurus, but with the implementation of the second batch of pilot companies equity division reform and 6 continued resumption, "G" prefix stocks will be more and more in the future, Shenzhen and Shanghai stock markets will form a new sector - G share plate, and at a certain time to launch the G share index.

11. What are K-line, Yang line and Yin line?

The so-called K-line chart is to show the daily, weekly, and monthly opening prices, closing prices, highest prices, and lowest prices of various stocks in a graphical way. K-line, also known as yin and yang line, bar line, red and black line or candle line, it originated from the Tokugawa shogunate period in Japan (16o3 ~ 1867) of the rice market trading, used to calculate the daily rise and fall of rice prices, and later people introduced it into the analysis of stock market price trends, and has now become an important method in stock technical analysis.

As shown below, the thin line at the top of the candlestick is called the upper shadow, and the thick line in the middle is the body. The lower thin line is the lower shadow. When the closing price is higher than the opening price, that is, the stock price is trending upward, we call the candlestick in this case a white candle, and the body in the middle is represented by a blank or red candle. In this case, the length of the upper shadow represents the difference between the high and closing prices, the length of the body represents the difference between the closing price and the opening price, and the length of the lower shadow represents the difference between the opening and low prices.

When the closing price is lower than the opening price, that is, the stock price trend is in a downward trend, we call the candlestick in this case a black candle. The body in the middle is black. At this point, the length of the upper shadow represents the difference between the high and open prices, the length of the body

The short represents how much the Open price is higher than the closing price, and the length of the lower shadow is determined by the size of the spread between the Close and the Low.

It should be noted that the positive line and the negative line are different from the ups and downs that people usually talk about. Generally speaking, the rise and fall refers to the comparison between the closing price of the current day and the closing price of the previous trading day. When the candlestick is bullish, it does not mean that the stock price has risen from the previous day, but only that the closing price of the day is higher than the opening price of the day. For example, the closing price of a stock on the previous trading day is 2O yuan, and the opening price, highest price, lowest price and closing price of the day are 18 yuan, 21 yuan, 17 yuan and 19 yuan respectively, then the stock has fallen by 1 yuan compared with the previous trading day, and the K-line chart is a yang line with an upper shadow length of 2 yuan, a lower shadow length of 1 yuan, and a body of 1 yuan.

Generally speaking, the bullish candlestick indicates that the buy order is strong and the sell order is weak, and at this time, the stock price will rise due to the short supply of the stock. A black candlestick indicates strong selling and weak buying. At this time, the stock price falls because the holders of the shares are in a hurry to sell the shares. At the same time, the longer the upper shadow, the stronger the selling pressure of the upper grade, which means that when the stock price rises, it will encounter greater selling pressure; The longer the lower shadow, the stronger the downward momentum, which means that when the stock price falls, more investors will take advantage of this opportunity to buy stocks.

However, candlestick charts tend to be influenced by a variety of factors. It is not 100% accurate to predict the rise and fall of stock prices. In addition, many people will have different understandings and interpretations of the same kind of figure. Therefore, when using candlestick charts. It must be combined with a variety of other factors and other technical indicators for comprehensive analysis and judgment.

Candlestick chart name meaning

The price of the lower shadow white candlestick (first down and then up) fell sharply after the market opened, and then rose back to the high level to close. The strong undertaking force of the market outlook suggests that the upward force is strong, which may be a harbinger of the rise.

The closing bald white line (first down and then up type) opened down and then turned around and rebounded, closing at the highest price of the day, which shows that the upward momentum is large.

The bald white candle (long white candle) is rising all day long, and there is a strong upward trend. If it occurs in a falling market, it may be a signal that the falling market is over.

The opening bald white line (rising resistance type) has a strong upward force, but it is blocked, so you should be cautious. If it is after a sustained rise, it may be a harbinger of a decline; If it is a rebound in the fall, the bulls are not strong enough and will still fall.

The market of the small yang line (weak type) is confusing, and it is difficult to have a clear estimate of the rise and fall. If it appears after a strong sustained rise, it indicates a high shock and lack of sustained power, which may be a sign of a decline. If it occurs after a long-term decline, it indicates a lack of motivation and may continue to fall.

The upward trend of the upper shadow candlestick market has weakened, and it is obviously blocked at a higher price, and the market may fall in the future.

The bald yin line (big black candle) falls all day, the market outlook is weak, the market is extremely bad, and it will fall, which often appears in the short market. If there are several long black candlesticks in a row, there may be a rebound.

The upper shadow yin line (rising and then falling type) rises first and then falls, and the bottom support is not large, and it may be a signal to end the upward market in the rising market.

The closing bald head yin line (first up and then down type) The market rises first and then falls, the seller is strong, and the market is bearish.

The small black line (short black line) is chaotic, and the rise and fall are difficult to estimate. If it occurs after a sustained rise, it indicates a high shock and may be a precursor to a decline.

The opening bald head fell (downward resistance) after the market fell and was accepted, showing signs of rebound.

The lower shadow black candle (if you want to fall but can't be type) suggests that there is strong support at the bottom, and the market may tend to rise in the future. If it occurs in a rising market, it will continue to rise; If it appears in a continuous downward market, it may bounce up. The four-value simultaneous market is weak, the trading volume is small, and investors are wait-and-see. This one-price situation occurs in the cold stock market.

The Doji market is in a turning point and could be a signal of a turn in the stock market. The big doji represents the long and short fighting type, indicating that the long and short sides are evenly matched on the same day, and the stock price trend on the next day is in the upper shadow part, indicating that the bulls are strong and can be bought; Otherwise, sell. The small doji has a small stalemate pattern, which should be determined after waiting and seeing. It cannot rise and fall, and it will continue to unfold.

The T-shape (multi-win line) turns into an upward signal, and the market may continue to rise in the future. The strength of the bulls is better than the bears, appearing in a bull market and may continue to rise, and appearing in a bear market and may rebound.

An inverted T-shape (short line) indicates that sellers are stronger than buyers and is a strong sign of decline. Appears in a bull market and may fall; Occurs in a bear market and may continue to fall.

12. What are A shares, B shares, H shares, N shares, and S shares?

The stocks of listed companies in China are divided into A shares, B shares, H shares, N shares and S shares. This distinction is largely determined by where the stock is listed and the investors it faces.

The official name of A shares is RMB ordinary shares. It is an ordinary stock that is subscribed and traded in RMB by domestic institutions, organizations or individuals (excluding investors from Taiwan, Hong Kong and Macao) by our domestic companies.

The official name of B shares is RMB special stocks, which are subscribed and traded in foreign currencies with a face value marked in RMB, and are listed and traded on domestic (SH, Shenzhen) stock exchanges. Its investors are limited to: foreign natural persons, legal persons and other organizations, natural persons, legal persons and other organizations in Hong Kong, Macao and Taiwan, and Chinese citizens residing abroad. Other investors as stipulated by the China Securities Regulatory Commission. At this stage, the investors of B shares are mainly institutional investors in the above categories

He who. The place of registration and listing of a B-share company are both in China. However, the investor is outside China or in Hong Kong, Macau and Taiwan.

H shares are foreign shares registered in the Mainland and listed in Hong Kong. The English word in Hong Kong is Hongkong, and foreign shares listed in Hong Kong are called H shares. And so on, the first letter of New York is N, the first letter of Singapore is S, and stocks listed in New York and Singapore are called N shares and S shares respectively.

13. What is the gift, dividend and allotment of stocks?

Share distribution refers to the listed company's distribution of profits (or capital increase) to investors in the form of bonus shares, so that investors can increase their shares and obtain investment income.

Dividends refer to the listed company's cash dividends, which are subject to income tax, and when distributing, the income from shares and dividends can be automatically entered into the shareholders' accounts.

A rights issue is an opportunity given by a listed company to investors to reinvest in shares according to a certain percentage, which is not a way of profit distribution. After the listed company announces the allotment, shareholders are required to sell the corresponding allotment warrants, such as Tomorrow Technology (6ooo91) allotted 3 shares for every 1O shares, and investors such as the original 1oo shares need to sell 3O shares of Tomorrow Technology allotment warrants during the payment period after the ex-rights

(7OOO91) and have sufficient margin for allotment, you can be successfully allocated. The allotment will not be traded until the listing announcement of the allotment.

14. What are support levels, resistance levels, and neckline levels?

When I ask someone about the direction of a stock, they will answer in a handsome way, what is its support level, etc. What do the support, resistance, and neckline levels mean? How are they calculated? Thank you!

In an uptrend, a support level may form where the previous trend has stopped;

Resistance levels may form where the previous trend has stopped in a downtrend;

Support and resistance levels can be converted into each other. It's not set in stone.

These locations are just some areas, and it is impossible to be precise to what point.

Remember: once a support or resistance level is crossed or broken, it doesn't make any sense.

As for the neckline, it is often found in price patterns such as m-head, bottom, or head and shoulders top, head and shoulders bottom. These are only useful for analysis, and pay attention to the risks in specific operations.

15. What are short-term, medium-term and long-term?

Short-term: The five-day moving average has turned flat from a decline, and the stock price has broken through the five-day line with the cooperation of trading volume. The five-day moving averages are in the same direction. The short-term holding period is generally 3 to 5 days.

Medium line: The 3O antenna has turned flat from falling, and the stock price has stood firm on the 3O daily line with the cooperation of trading volume, and the direction of the 3O daily moving average line must be upward. The medium-term holding period is generally between 1 month and 3 months.

Long-term: Look at the weekly and monthly lines, the 3O weekly moving average is flat to the upside, and the 3O monthly moving average is flat to the upside. The holding period is generally from 3 months to half a year, and at most one year.

16. What is a golden cross, a dead cross, a long arrangement, and a short arrangement?

1. At the beginning of the upward market, the short-term moving average breaks through the medium and long-term moving average from the bottom to the top, and the crossover formed is called the golden cross.

Indicates that the stock price will rise: the yellow 5-day moving average crosses through the purple 1o daily moving average; The crosses formed by the 1o daily moving average crossing the green 3o daily moving average are all golden crosses.

2. When the short-term moving average falls below the medium- and long-term moving average, the crossover formed is called a death cross. It indicates that the stock price will fall. The yellow 5-day moving average crosses below the purple 1O daily moving average; The crosses formed by the 1o daily moving average crossing below the green 3o daily moving average are death crosses.

3. When the rising market enters a stable period, the 5-day, 1O-day, and 3O-day moving averages are arranged in order from top to bottom, moving to the upper right, which is called a bullish arrangement. It indicates that the stock price will rise sharply.

4. In a falling market, the 5-day, 1O-day, and 3O-day moving averages are arranged in order from bottom to top and move to the lower right, which is called a bearish arrangement, indicating that the stock price will fall sharply.

5. In an upward market, the stock price is above the moving average, and the moving average arranged by the bulls can be regarded as the line of defense for the bulls; When the stock price retraces to near the moving average, each moving average produces support in turn, and the buying market pushes the stock price up again, which is the upward effect of the moving average.

6. In the falling market, the stock price is below the moving average, and the moving average arranged by the bears can be regarded as the line of defense of the bears, when the stock price rebounds near the moving average, it will encounter resistance, and the selling orders will pour out, prompting the stock price to fall further, which is the role of the moving average.

7. When the moving average turns from rising to falling and the lowest point is the lowest point from falling to rising, it is the turning point of the moving average. It indicates that the stock price trend will reverse.

Here is mainly for technical indicators, moving averages and k-lines, if you don't understand, look at the following technical indicators.

2. Trading Rules

1. Account opening process

The securities market is divided into SH and Shenzhen, and generally the securities accounts of the two exchanges are handled first, and any legal brokerage can do it, and the cost is generally about 9O yuan; Then open a fund account with a brokerage firm that you are satisfied with, go through the procedures such as designation, online trading, etc., and deposit funds (please consult the brokerage salesperson for how to deposit funds).

1. First choose the business department of a large brokerage firm with a good social reputation; 2. Must be handled in person and hold valid legal documents (ID card, military ID, passport); 3. The requirements for account opening procedures are relatively strict and there are many projects, please consult the brokerage sales staff in detail before handling.

According to the relevant regulations, the following persons are not allowed to open an account:

[1] Staff of securities management authorities (not allowed to open stock accounts);

[2] Stock exchange managers (not allowed to open stock accounts);

[3] Securities practitioners (not allowed to open stock accounts);

[4] Minors without the agency or permission of their legal guardians;

[5] Unauthorized account opening on behalf of a legal person;

[6] Those who have been identified as prohibited from entering the market by the competent authorities due to violations of securities laws and regulations and the period has not expired;

[7] Other laws and regulations prohibit natural persons from owning securities or participating in securities transactions.

If you open an account, you can find the counter of the business department of the securities company to handle it, and the counter salesperson will help handle the relevant matters; At present, some bank counters that have opened bank-securities pass can also open accounts on their behalf. For more information, please refer to the following steps:

1. The operation process of opening an A-share account

1. Individual account opening operation process:

(1) Fill in the account opening application form

The client fills in the "Account Opening Application Form" (in duplicate), the "Securities Transaction Entrustment Agency Agreement", and the "Designated Transaction Agreement" of the SH account, and signs for confirmation. For customers who have an agent for trading or deposit and withdrawal, in addition to the above-mentioned agreement, the customer and the agent are also required to sign the "Power of Attorney" (in triplicate) at the counter at the same time. If the securities account card is not present in person, when the account opening agent handles the ** account, the account opening agent must also present the "Power of Attorney" notarized by the notary public in accordance with the law, and the account holder shall promise to bear the legal responsibility arising from the agent.

(2) Verification:

Customers are required to provide their ID cards and original Shanghai and Shenzhen shareholder account cards. For customers who have an agent for trading or depositing and withdrawing funds, in addition to the above-mentioned documents, the original and copy of the agent's ID card should also be provided.

(3) Account opening processing:

For customers who meet the requirements for opening an account, the counter handling staff will input the customer's account opening information into the computer, and require the customer to set the initial transaction password and fund access password, and print the "Customer Account Opening Receipt" (in duplicate). At the same time, the counter handling staff will open a capital account number for the customer according to the account opening serial number, and assign the customer a "securities trading card", and ask the customer to sign the "customer account opening receipt".

Second, the common sense of stock account opening

Investors who buy stocks in the securities circulation market need to entrust a securities firm and "open an account" with the other party, that is, the investor and the securities dealer sign a "entrusted contract for the purchase and sale of securities".

1. Cash Account: After opening this account, the customer who opens this account shall pay the full purchase price of the stock on or before the liquidation date after purchasing the securities. Similarly, after the sale of the shares, the shares should be delivered to the adjudicator on or before the liquidation date. The specific date of the liquidation date is usually stated on the "Transaction Notice" of the stock sent to the customer that the liquidation date is the fifth business day after the trading day in the United States.

2. Margin account: also known as ordinary account. When a client purchases securities, the securities firm will provide a part of the financing to the investor in the form of an advance and receive interest on the advance. For example, a 65% margin requirement for an account means that the merchant should pay 65% of the price of the security immediately upon purchase. The remaining 35% of the price is paid with interest. Interest is calculated on the basis of the cost of borrowing provided by the security.

3. Joint account: An investor opens an account with a securities firm in partnership between two or more people. This type of account is for couples or paternity.

4. Account at any time: By opening this account, the client gives the securities dealer a written approval of priority, agreeing that the securities dealer will conduct transactions without consultation with investors, and the trading object, the price, quantity and timing of the transaction are selected by the securities firm. Of course, securities firms should be provided on the premise that they do not harm the interests of their customers.

3. Stock account opening fees

The specific fees for securities account cards are $5O for Shenzhen A-share securities account cards and HK$12O for B-share securities account cards; The Shanghai A-share securities account card costs 4O yuan, the magnetic card or securities account card (convenient for inquiry and entrustment, generally only used in the local securities business department) costs 7o yuan, and the Shanghai B-share account card costs 15 US dollars

(To sum up: just bring your ID card and money to the securities company, the ID card can be copied directly in the securities company, with a special copy paper, you need to spend money to print, and then the salesperson will guide you, will fill in a lot of things, contracts and the like, after completing the formalities you will have two securities account cards similar to passbooks, Shenzhen and Shanghai, there will also be a capital card, similar to a bank card.) In addition, it is necessary to go to the bank designated by the securities company to apply for a bank card, and then take the bank card, ID card, and capital card, which are the few things that are done in the securities company, and then open the bank-securities pass business in the securities company, and you can trade online. ）

2. Trading hours

Monday to Friday, 9:3o to 11:3o in the morning and 1:oo to 3:oo in the afternoon. Except statutory public holidays.

3. Trading principles

Price priority, time priority.

4. Transaction order

Price priority - the higher price buy declaration takes precedence over the lower price buy declaration, and the lower price sell declaration takes precedence over the higher price sell declaration;

Time priority - if the direction and price of the transaction are the same, the first to declare has priority over the later one. The order of precedence is determined by the time when the transaction host accepts the declaration.

5. Stock exchange trading rules

T+1 transactions

6. Stock rise and fall and suspension rules

Daily change in the stock = 1o% of yesterday's close

Daily change in sT shares = 5% of yesterday's close

The daily rise and fall of the warrant = 1o% of the closing price of the stock corresponding to the landmark, and the corresponding warrant can be greater than 1o%, which is a percentage, which should be analyzed specifically to each warrant, and there is no certain range.

In stock trading, why is the trading volume of up and down limit very small?

In the case of the daily limit, everyone is optimistic about this stock, although there are many buying orders, but everyone is reluctant to sell, and the trading volume is naturally less. In the case of the fall limit, the situation is just the opposite, everyone does not want to buy, although there are many sell-offs, but there are few orders, and the trading volume is naturally less.

There is no price limit in the following cases:

1. The date of listing of the new shares.

2. Suspend the listing of sT shares on the day of turnaround and resumption of trading.

3. The resumption date of the completion of the share reform.

4. The price limit of the warrant is greater than 1o%.

Suspension and resumption of trading of stocks

The suspension of the shares of listed companies is a necessary measure taken by the stock exchange in order to safeguard the interests of the majority of investors and the fairness and impartiality of market information disclosure, as well as to supervise and restrain the behavior of listed companies. A listed company may apply to the stock exchange for suspension and resumption of trading on grounds that the stock exchange deems reasonable; The stock exchange may decide on the suspension and resumption of trading of stocks and their derivatives according to the actual situation or the requirements of the China Securities Regulatory Commission.

The board of directors of a listed company applies for suspension and resumption of trading of its shares and its derivatives in the following situations: when the listed company publishes an annual report or interim report, or the listed company announces the resolution of the board of directors on equity distribution, allotment of shares, and conversion of provident fund to share capital on the trading day, trading will be suspended in the morning and resumed in the afternoon when the market opens; If a listed company convenes a general meeting of shareholders and the period of the meeting is the trading hours of the stock exchange, trading shall be suspended from the day of the general meeting of shareholders until the resumption of trading on the morning of the day of the announcement of the resolution of the general meeting of shareholders. If a listed company has one of the following circumstances, the stock exchange shall suspend or resume trading of its shares and its derivatives:

1. The information that has not yet been disclosed by the listed company in the news media may have a greater impact on the trading of the company's shares and its derivatives, and the stock exchange will suspend the trading of the stock and its derivatives until the listed company makes an announcement on the news and resume trading in the afternoon of the day.

2. If there is abnormal fluctuation in stock trading, the stock exchange may suspend trading until the market opens in the afternoon of the day when the party with the obligation to disclose makes an announcement.

If a listed company is suspected of violating laws, regulations, rules and business rules of the firm in terms of company operation and information disclosure, and the circumstances are serious, during the investigation by the relevant departments, with the approval of the China Securities Regulatory Commission, the firm will suspend the trading of the company's shares and its derivatives, and decide to resume trading after the announcement of the relevant handling decision.

If a listed company has one of the following circumstances, the stock exchange shall suspend trading in its shares and derivatives until the factors leading to the suspension are eliminated and trading resumes: an investor's public offer to acquire the shares of the listed company; The China Securities Regulatory Commission (CSRC) has made a decision to suspend stock trading in accordance with the law; When deemed necessary by the stock exchange.

If the suspension period applied by a listed company is only 3o days, the stock exchange shall make a decision based on the company's stock trading; If 3O days (including 3O days) have passed, the firm shall submit a handling opinion to the China Securities Regulatory Commission for approval. The company should announce the suspension information on the next business day after the suspension application is approved.

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