Zhejiang Expressway Co., Ltd. Stock Forecast
Zhejiang Expressway Co., Ltd. stock price down 0.394% on Friday
(Updated on Apr 19, 2024)
The Zhejiang Expressway Co., Ltd. stock price fell by -0.394% on the last day (Friday, 19th Apr 2024) from HK$5.08 to HK$5.06. During the last trading day the stock fluctuated 1.79% from a day low at HK$5.03 to a day high of HK$5.12. The price has risen in 5 of the last 10 days and is up by 3.9% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 7 million shares were bought and sold for approximately HK$34.49 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.19% during the next 3 months and, with a 90% probability hold a price between HK$4.16 and HK$4.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0576.HK Signals & Forecast
There are mixed signals in the stock today. The Zhejiang Expressway Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$5.07 and HK$5.53. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 3.90%. 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).
Support, Risk & Stop-loss for Zhejiang Expressway Co., Ltd. stock
Zhejiang Expressway Co., Ltd. finds support from accumulated volume at HK$5.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0900 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0576.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Zhejiang Expressway Co., Ltd. to open at HK$5.07, and during the day (based on 14 day Average True Range), to move between HK$4.91 and HK$5.21, which gives a possible trading interval of +/-HK$0.155 (+/-3.05%) up or down from last closing price. If Zhejiang Expressway Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.11% 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$5.05 (0.20%) than the resistance at HK$5.09 (0.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Zhejiang Expressway Co., Ltd. will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for Zhejiang Expressway Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.30% in the first trading day after earnings release.
Is Zhejiang Expressway Co., Ltd. stock A Buy?
Zhejiang Expressway Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.632 Sell Candidate Unchanged
Predicted Opening Price for Zhejiang Expressway Co., Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$5.07 ( 0.198%) | HK$5.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0576.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.16 | 1.98 % | |
| R2 | 5.13 | 1.30 % | ||
| R1 | 5.10 | 0.88 % | ||
| Current price: | 5.06 | |||
| Support | S1 | 5.04 | -0.482 % | |
| S2 | 5.01 | -0.90 % | ||
| S3 | 4.98 | -1.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.98 | 18.18 % | |
| R2 | 5.92 | 17.00 % | ||
| R1 | 5.09 | 0.593 % | ||
| Current price | 5.06 | |||
| Support | S1 | 5.05 | -0.198% | |
| S2 | 5.02 | -0.791% | ||
| S3 | 4.97 | -1.78% |
0576 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2023 | May 08, 2023 | May 08, 2023 | HK$0.426 | 6.50% |
| 2 | Jul 05, 2022 | Jul 05, 2022 | Jul 05, 2022 | HK$0.439 | 6.21% |
| 3 | Jun 22, 2022 | Jun 22, 2022 | Jun 22, 2022 | HK$0.375 | 5.45% |
| 4 | Apr 23, 2021 | Apr 23, 2021 | Apr 23, 2021 | HK$0.423 | 6.26% |
| 5 | May 19, 2020 | May 19, 2020 | May 19, 2020 | HK$0.388 | 6.78% |
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