China Railway Group Limited Stock Forecast
Is China Railway Group Limited stock still a buy after falling -5.60% on Tuesday?
(Updated on Apr 30, 2024)
The China Railway Group Limited stock price fell by -5.60% on the last day (Tuesday, 30th Apr 2024) from HK$4.11 to HK$3.88. During the last trading day the stock fluctuated 6.77% from a day low at HK$3.84 to a day high of HK$4.10. The price has been going up and down for this period, and there has been a -3% loss for the last 2 weeks. Volume has increased on the last day by 55 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 76 million shares were bought and sold for approximately HK$296.54 million.
Given the current short-term trend, the stock is expected to rise 14.18% during the next 3 months and, with a 90% probability hold a price between HK$4.43 and HK$4.74 at the end of this 3-month period.
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0390.HK Signals & Forecast
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. The China Railway Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$4.05 and HK$3.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -6.05%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Railway Group Limited stock
China Railway Group Limited finds support from accumulated volume at HK$3.86 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 HK$0.260 (6.77%) between high and low. For the last week, the stock has had daily average volatility of 3.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0390.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect China Railway Group Limited to open at HK$3.94, and during the day (based on 14 day Average True Range), to move between HK$3.74 and HK$4.02, which gives a possible trading interval of +/-HK$0.142 (+/-3.65%) up or down from last closing price. If China Railway Group Limited takes out the full calculated possible swing range there will be an estimated 7.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$3.86 (0.52%) than the resistance at HK$3.96 (2.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Railway Group Limited stock A Buy?
The China Railway Group Limited stock holds several negative signals and despite the positive trend, we believe China Railway Group Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -4.500 Sell Candidate Downgraded
Predicted Opening Price for China Railway Group Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$3.94 ( 1.55%) | HK$3.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0390.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.20 | 8.25 % | |
| R2 | 4.10 | 5.69 % | ||
| R1 | 4.04 | 4.11 % | ||
| Current price: | 3.88 | |||
| Support | S1 | 3.84 | -1.01 % | |
| S2 | 3.78 | -2.59 % | ||
| S3 | 3.68 | -5.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.12 | 6.19 % | |
| R2 | 4.02 | 3.61 % | ||
| R1 | 3.96 | 2.06 % | ||
| Current price | 3.88 | |||
| Support | S1 | 3.86 | -0.515% | |
| S2 | 3.82 | -1.55% | ||
| S3 | 3.79 | -2.32% |
0390 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2023 | Jul 19, 2023 | Jul 19, 2023 | HK$0.218 | 4.41% |
| 2 | Jul 20, 2022 | Jul 20, 2022 | Jul 20, 2022 | HK$0.230 | 4.65% |
| 3 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | HK$0.217 | 5.87% |
| 4 | Jul 29, 2020 | Jul 29, 2020 | Jul 29, 2020 | HK$0.185 | 4.70% |
| 5 | Jul 12, 2019 | Jul 12, 2019 | Jul 12, 2019 | HK$0.146 | 2.60% |
FAQ
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