Ping An Bank Co Ltd Stock Forecast
Ping An Bank Co Ltd stock downgraded to Buy Candidate
(Updated on Apr 30, 2024)
The Ping An Bank Co Ltd stock price fell by -0.185% on the last day (Tuesday, 30th Apr 2024) from ¥10.81 to ¥10.79. During the last trading day the stock fluctuated 2.74% from a day low at ¥10.59 to a day high of ¥10.88. The price has been going up and down for this period, and there has been a 4.96% gain for the last 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 -84 million shares and in total, 132 million shares were bought and sold for approximately ¥1.43 billion.
The stock lies in the middle of a wide and weak 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 7.79% during the next 3 months and, with a 90% probability hold a price between ¥10.86 and ¥12.46 at the end of this 3-month period.
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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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥10.63 and ¥10.49. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -1.01%. Further fall is indicated until a new bottom pivot has been found. 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 ¥0.290 between high and low, or 2.74%. For the last week the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: ¥10.33 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (000001.SZ) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Ping An Bank Co Ltd to open at ¥10.75, and during the day (based on 14 day Average True Range), to move between ¥10.49 and ¥11.09, which gives a possible trading interval of +/-¥0.298 (+/-2.77%) 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 5.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥10.80 (0.09%) than the support at ¥10.60 (1.76%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ping An Bank Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ping An Bank Co Ltd stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.729 Buy Candidate Downgraded
Predicted Opening Price for Ping An Bank Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥10.75 ( 0.340%) | ¥10.79 |
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 | 11.04 | 2.35 % | |
| R2 | 10.93 | 1.32 % | ||
| R1 | 10.86 | 0.687 % | ||
| Current price: | 10.79 | |||
| Support | S1 | 10.64 | -1.37 % | |
| S2 | 10.57 | -2.00 % | ||
| S3 | 10.46 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.90 | 1.02 % | |
| R2 | 10.85 | 0.556 % | ||
| R1 | 10.80 | 0.0927 % | ||
| Current price | 10.79 | |||
| Support | S1 | 10.60 | -1.76% | |
| S2 | 10.53 | -2.41% | ||
| S3 | 10.49 | -2.78% |
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% |
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