CNPC Capital Co Ltd Stock Forecast
CNPC Capital Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The CNPC Capital Co Ltd stock price gained 1.46% on the last trading day (Wednesday, 26th Jun 2024), rising from ¥5.47 to ¥5.55. During the last trading day the stock fluctuated 2.02% from a day low at ¥5.44 to a day high of ¥5.55. The price has risen in 5 of the last 10 days but is still down by -0.89% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 30 million shares were bought and sold for approximately ¥167.74 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ¥5.47 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect CNPC Capital Co Ltd stock with a 90% probability to be traded between ¥5.39 and ¥6.04 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000617.SZ Signals & Forecast
There are mixed signals in the stock today. The CNPC Capital Co Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥5.59 and ¥5.77. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for CNPC Capital Co Ltd stock
CNPC Capital Co Ltd finds support from accumulated volume at ¥5.52 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ¥0.110 (2.02%) between high and low. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: ¥5.22 (-5.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (000617.SZ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect CNPC Capital Co Ltd to open at ¥5.51, and during the day (based on 14 day Average True Range), to move between ¥5.39 and ¥5.71, which gives a possible trading interval of +/-¥0.164 (+/-2.96%) up or down from last closing price. If CNPC Capital Co Ltd takes out the full calculated possible swing range there will be an estimated 5.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥5.52 (0.54%) than the resistance at ¥5.77 (3.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CNPC Capital Co Ltd stock A Buy?
CNPC Capital Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.147 Hold/Accumulate Upgraded
Predicted Opening Price for CNPC Capital Co Ltd of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ¥5.51 ( 0.661%) | ¥5.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000617.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.62 | 1.32% |
| R2 | 5.58 | 0.564% |
| R1 | 5.56 | 0.0965% |
| Price | 5.55 | |
| S1 | 5.47 | -1.42% |
| S2 | 5.45 | -1.89% |
| S3 | 5.40 | -2.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.05 | 9.01% |
| R2 | 5.96 | 7.39% |
| R1 | 5.77 | 3.96% |
| Price | 5.55 | |
| S1 | 5.52 | -0.541% |
| S2 | 5.47 | -1.44% |
| S3 | 5.44 | -1.98% |
000617 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | ¥0.117 | 1.65% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | ¥0.132 | 2.93% |
| 3 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | ¥0.187 | 3.22% |
| 4 | Jul 09, 2020 | Jul 09, 2020 | Jul 09, 2020 | ¥0.259 | 3.12% |
| 5 | Jul 03, 2019 | Jul 03, 2019 | Jul 03, 2019 | ¥0.172 | 1.95% |
FAQ
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