China Communications Services Corp Ltd Stock Forecast
Red day on Thursday for China Communications Services Corp Ltd stock after losing 1.58%
(Updated on May 23, 2024)
The China Communications Services Corp Ltd stock price fell by -1.58% on the last day (Thursday, 23rd May 2024) from HK$3.79 to HK$3.73. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.15% from a day low at HK$3.72 to a day high of HK$3.80. The price has fallen in 6 of the last 10 days but is still up by 2.19% over the past 2 weeks. Volume has increased on the last day by 2 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, 6 million shares were bought and sold for approximately HK$22.11 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.69 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.72% during the next 3 months and, with a 90% probability hold a price between HK$4.16 and HK$4.51 at the end of this 3-month period.
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0552.HK Signals & Forecast
A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.57%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The China Communications Services Corp Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$3.83. On a fall, the stock will find some support from the long-term average at approximately HK$3.69. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for China Communications Services Corp Ltd stock
China Communications Services Corp Ltd finds support from accumulated volume at HK$3.65 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$0.0800 (2.15%) between high and low. For the last week, the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: HK$3.58 (-4.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (0552.HK) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect China Communications Services Corporation Limited to open at HK$3.75, and during the day (based on 14 day Average True Range), to move between HK$3.62 and HK$3.84, which gives a possible trading interval of +/-HK$0.107 (+/-2.86%) up or down from last closing price. If China Communications Services Corporation Limited takes out the full calculated possible swing range there will be an estimated 5.73% 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$3.77 (1.07%) than the support at HK$3.65 (2.14%), 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 China Communications Services Corporation Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 3.156 Buy Candidate Unchanged
Predicted Opening Price for China Communications Services Corporation Limited of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| HK$3.75 ( 0.536%) | HK$3.73 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0552.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.83 | 2.68 % | |
| R2 | 3.80 | 1.86 % | ||
| R1 | 3.78 | 1.36 % | ||
| Current price: | 3.73 | |||
| Support | S1 | 3.72 | -0.283 % | |
| S2 | 3.70 | -0.789 % | ||
| S3 | 3.67 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.88 | 4.02 % | |
| R2 | 3.80 | 1.88 % | ||
| R1 | 3.77 | 1.07 % | ||
| Current price | 3.73 | |||
| Support | S1 | 3.65 | -2.14% | |
| S2 | 3.60 | -3.49% | ||
| S3 | 3.33 | -10.72% |
0552 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Aug 16, 2024 | HK$0.235 | 6.31% |
| 2 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | HK$0.213 | 5.78% |
| 3 | Jul 04, 2022 | Jul 04, 2022 | Jul 04, 2022 | HK$0.0106 | 0.325% |
| 4 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | HK$0.0324 | 0.88% |
| 5 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | HK$0.0289 | 0.600% |
FAQ
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