Shenzhen Expressway Company Limited Stock Forecast
Shenzhen Expressway Company Limited stock price ended at HK$7.88 on Wednesday, after gaining 0.254%.
(Updated on Jun 26, 2024)
The Shenzhen Expressway Company Limited stock price gained 0.254% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$7.86 to HK$7.88. During the last trading day the stock fluctuated 1.02% from a day low at HK$7.81 to a day high of HK$7.89. The price has risen in 5 of the last 10 days and is up by 2.07% 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, 533 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately HK$10.80 million.
The stock lies in the middle of a narrow 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 15.90% during the next 3 months and, with a 90% probability hold a price between HK$9.07 and HK$9.31 at the end of this 3-month period.
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0548.HK Signals & Forecast
The Shenzhen Expressway Company Limited 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 HK$7.86 and HK$7.76. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, June 20, 2024, and so far it has fallen -1.01%. 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).
Support, Risk & Stop-loss for Shenzhen Expressway Company Limited stock
Shenzhen Expressway Company Limited finds support from accumulated volume at HK$7.76 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 HK$0.0800 between high and low, or 1.02%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: HK$7.58 (-3.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (0548.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Shenzhen Expressway Company Limited to open at HK$7.86, and during the day (based on 14 day Average True Range), to move between HK$7.74 and HK$8.02, which gives a possible trading interval of +/-HK$0.139 (+/-1.77%) up or down from last closing price. If Shenzhen Expressway Company Limited takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$7.90 (0.25%) than the support at HK$7.76 (1.52%), 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 Shenzhen Expressway Company Limited 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 Shenzhen Expressway Company Limited stock to perform well in the short-term.
Current score: 2.827 Buy Candidate Unchanged
Predicted Opening Price for Shenzhen Expressway Company Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$7.86 ( 0.254%) | HK$7.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0548.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.94 | 0.761% |
| R2 | 7.91 | 0.374% |
| R1 | 7.89 | 0.134% |
| Price | 7.88 | |
| S1 | 7.83 | -0.642% |
| S2 | 7.81 | -0.88% |
| S3 | 7.78 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.96 | 1.02% |
| R2 | 7.94 | 0.761% |
| R1 | 7.90 | 0.254% |
| Price | 7.88 | |
| S1 | 7.76 | -1.52% |
| S2 | 7.19 | -8.76% |
| S3 | 7.00 | -11.17% |
0548 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 19, 2024 | HK$0.594 | 7.44% |
| 2 | May 19, 2023 | May 19, 2023 | May 19, 2023 | HK$0.522 | 7.77% |
| 3 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.726 | 9.62% |
| 4 | May 20, 2021 | May 20, 2021 | May 20, 2021 | HK$0.518 | 6.57% |
| 5 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | HK$0.569 | 7.25% |
FAQ
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