China Merchants Port Group Co., Ltd. Stock Forecast
China Merchants Port Group Co., Ltd. stock price up 1.03% on Friday
(Updated on Jun 21, 2024)
The China Merchants Port Group Co., Ltd. stock price gained 1.03% on the last trading day (Friday, 21st Jun 2024), rising from ¥19.49 to ¥19.69. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.11% from a day low at ¥18.50 to a day high of ¥20.00. The price has risen in 8 of the last 10 days and is up by 6.15% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 725 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately ¥164.28 million.
The stock lies in the middle of a 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 7.42% during the next 3 months and, with a 90% probability hold a price between ¥19.91 and ¥21.79 at the end of this 3-month period.
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001872.SZ Signals & Forecast
Mostly positive signals in the chart today. The China Merchants Port Group 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 ¥19.06 and ¥19.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 7.19%. 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 China Merchants Port Group Co., Ltd. stock
China Merchants Port Group Co., Ltd. finds support from accumulated volume at ¥19.28 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 ¥1.50 between high and low, or 8.11%. For the last week the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: ¥18.75 (-4.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (001872.SZ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China Merchants Port Group Co., Ltd. to open at ¥19.40, and during the day (based on 14 day Average True Range), to move between ¥19.00 and ¥20.38, which gives a possible trading interval of +/-¥0.692 (+/-3.52%) up or down from last closing price. If China Merchants Port Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥19.28, some ¥0.410 (2.08%) from the current price of ¥19.69, our system finds the risk reward attractive.
Is China Merchants Port Group 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 China Merchants Port Group Co., Ltd. stock to perform well in the short-term.
Current score: 4.885 Buy Candidate Unchanged
Predicted Opening Price for China Merchants Port Group Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ¥19.40 ( 1.49%) | ¥19.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001872.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.90 | 6.13% |
| R2 | 20.32 | 3.22% |
| R1 | 19.97 | 1.42% |
| Price | 19.69 | |
| S1 | 18.82 | -4.40% |
| S2 | 18.47 | -6.20% |
| S3 | 17.90 | -9.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 19.69 | |
| S1 | 19.28 | -2.08% |
| S2 | 19.27 | -2.13% |
| S3 | 19.10 | -3.00% |
001872 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | ¥0.450 | 2.58% |
| 2 | May 17, 2022 | May 17, 2022 | May 17, 2022 | ¥0.430 | 2.82% |
| 3 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | ¥0.380 | 2.41% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | ¥0.460 | 2.87% |
| 5 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | ¥0.114 | 0.687% |
FAQ
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