Ping An Bank Co Ltd Stock Forecast
Evaluation of Ping An Bank Co Ltd stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Ping An Bank Co Ltd stock price fell by -1.02% on the last day (Friday, 19th Apr 2024) from ¥10.80 to ¥10.69. During the last trading day the stock fluctuated 5.87% from a day low at ¥10.22 to a day high of ¥10.82. The price has fallen in 7 of the last 10 days but is still up by 2.2% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -171 million shares and in total, 146 million shares were bought and sold for approximately ¥1.56 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.16% during the next 3 months and, with a 90% probability hold a price between ¥11.30 and ¥12.99 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
000001.SZ Signals & Forecast
The Ping An Bank Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥10.43 and ¥10.45. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, February 22, 2024, and so far it has fallen -1.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ping An Bank Co Ltd stock
Ping An Bank Co Ltd finds support from accumulated volume at ¥10.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.600 between high and low, or 5.87%. For the last week the stock has had daily average volatility of 4.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000001.SZ) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ping An Bank Co Ltd to open at ¥10.58, and during the day (based on 14 day Average True Range), to move between ¥10.38 and ¥11.00, which gives a possible trading interval of +/-¥0.308 (+/-2.88%) up or down from last closing price. If Ping An Bank Co Ltd takes out the full calculated possible swing range there will be an estimated 5.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥10.60 (0.84%) than the resistance at ¥10.80 (1.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ping An Bank Co Ltd will release earnings BMO on Saturday, April 20, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.690. We will update the financials statements for Ping An Bank Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.85% in the first trading day after earnings release.
Is Ping An Bank Co Ltd stock A Buy?
Ping An Bank Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.358 Sell Candidate Downgraded
Predicted Opening Price for Ping An Bank Co Ltd of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ¥10.58 ( 1.06%) | ¥10.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000001.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.18 | 4.55 % | |
| R2 | 10.95 | 2.41 % | ||
| R1 | 10.81 | 1.08 % | ||
| Current price: | 10.69 | |||
| Support | S1 | 10.35 | -3.20 % | |
| S2 | 10.21 | -4.53 % | ||
| S3 | 9.98 | -6.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.90 | 1.96 % | |
| R2 | 10.85 | 1.50 % | ||
| R1 | 10.80 | 1.03 % | ||
| Current price | 10.69 | |||
| Support | S1 | 10.60 | -0.84% | |
| S2 | 10.49 | -1.87% | ||
| S3 | 10.33 | -3.37% |
000001 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | ¥0.285 | 2.48% |
| 2 | Jul 22, 2022 | Jul 22, 2022 | Jul 22, 2022 | ¥0.228 | 1.78% |
| 3 | May 14, 2021 | May 14, 2021 | May 14, 2021 | ¥0.180 | 0.772% |
| 4 | Jun 26, 2019 | Jun 26, 2019 | Jun 26, 2019 | ¥0.145 | 1.08% |
| 5 | Jul 12, 2018 | Jul 12, 2018 | Jul 12, 2018 | ¥0.136 | 1.53% |
FAQ
Click here for our free guide on how to buy Ping An Bank Co Ltd Stock.
