Shenzhen Expressway Company Limited Stock Forecast
A very red day for Shenzhen Expressway Company Limited stock price after a -6.31% fall in the Friday trading session
(Updated on Jun 28, 2024)
The Shenzhen Expressway Company Limited stock price fell by -6.31% on the last day (Friday, 28th Jun 2024) from HK$7.77 to HK$7.28. During the last trading day the stock fluctuated 3.24% from a day low at HK$7.10 to a day high of HK$7.33. The price has fallen in 5 of the last 10 days and is down by -6.19% for this period. Volume has increased on the last day by 442 thousand 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, 3 million shares were bought and sold for approximately HK$19.79 million.
Given the current short-term trend, the stock is expected to rise 13.97% during the next 3 months and, with a 90% probability hold a price between HK$8.30 and HK$9.19 at the end of this 3-month period.
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0548.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Shenzhen Expressway Company 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$7.78 and HK$7.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -8.54%. 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). 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 Shenzhen Expressway Company Limited stock
Shenzhen Expressway Company Limited finds support from accumulated volume at HK$7.19 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$0.230 between high and low, or 3.24%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0548.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Shenzhen Expressway Company Limited to open at HK$7.24, and during the day (based on 14 day Average True Range), to move between HK$7.10 and HK$7.46, which gives a possible trading interval of +/-HK$0.179 (+/-2.45%) 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 4.91% 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$7.19 (1.24%) than the resistance at HK$7.76 (6.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Expressway Company Limited stock A Buy?
The Shenzhen Expressway Company Limited stock holds several negative signals and despite the positive trend, we believe Shenzhen Expressway Company Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -2.213 Sell Candidate Upgraded
Predicted Opening Price for Shenzhen Expressway Company Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$7.24 ( 0.595%) | HK$7.28 |
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 | 7.47 | 2.56% |
| R2 | 7.38 | 1.36% |
| R1 | 7.32 | 0.612% |
| Price | 7.28 | |
| S1 | 7.15 | -1.80% |
| S2 | 7.09 | -2.55% |
| S3 | 7.01 | -3.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.96 | 9.34% |
| R2 | 7.88 | 8.24% |
| R1 | 7.76 | 6.59% |
| Price | 7.28 | |
| S1 | 7.19 | -1.24% |
| S2 | 7.00 | -3.85% |
| S3 | 6.99 | -3.98% |
0548 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 19, 2024 | HK$0.594 | 8.15% |
| 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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