China Telecom Corporation Limited Stock Forecast
Red day on Thursday for China Telecom Corporation Limited
(Updated on May 09, 2024)
The China Telecom Corporation Limited stock price fell by -0.231% on the last day (Thursday, 9th May 2024) from HK$4.33 to HK$4.32. During the last trading day the stock fluctuated 1.86% from a day low at HK$4.31 to a day high of HK$4.39. The price has been going up and down for this period, and there has been a -2.26% loss for the last 2 weeks. Volume has increased on the last day by 4 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, 70 million shares were bought and sold for approximately HK$304.37 million.
The stock lies in the middle of a wide and weak 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 6.43% during the next 3 months and, with a 90% probability hold a price between HK$4.32 and HK$4.94 at the end of this 3-month period.
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0728.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -4.42%. 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. The China Telecom Corporation 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$4.28 and HK$4.24. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for China Telecom Corporation Limited stock
China Telecom Corporation Limited finds support from accumulated volume at HK$4.15 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 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: HK$4.16 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (0728.HK) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect China Telecom Corporation Limited to open at HK$4.34, and during the day (based on 14 day Average True Range), to move between HK$4.23 and HK$4.41, which gives a possible trading interval of +/-HK$0.0939 (+/-2.17%) up or down from last closing price. If China Telecom Corporation Limited takes out the full calculated possible swing range there will be an estimated 4.35% 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$4.36 (0.93%) than the support at HK$4.15 (3.94%), 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 Telecom Corporation 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 China Telecom Corporation Limited stock to perform well in the short-term.
Current score: 3.809 Buy Candidate Unchanged
Predicted Opening Price for China Telecom Corporation Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| HK$4.34 ( 0.463%) | HK$4.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0728.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.42 | 2.31 % | |
| R2 | 4.39 | 1.61 % | ||
| R1 | 4.37 | 1.17 % | ||
| Current price: | 4.32 | |||
| Support | S1 | 4.31 | -0.244 % | |
| S2 | 4.29 | -0.681 % | ||
| S3 | 4.26 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.52 | 4.63 % | |
| R2 | 4.39 | 1.62 % | ||
| R1 | 4.36 | 0.93 % | ||
| Current price | 4.32 | |||
| Support | S1 | 4.15 | -3.94% | |
| S2 | 4.07 | -5.79% | ||
| S3 | 4.06 | -6.02% |
0728 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jul 26, 2024 | HK$0.0972 | 2.25% |
| 2 | May 31, 2023 | May 31, 2023 | May 31, 2023 | HK$0.0851 | 2.19% |
| 3 | Aug 31, 2022 | Aug 31, 2022 | Aug 31, 2022 | HK$0.140 | 5.21% |
| 4 | May 31, 2022 | May 31, 2022 | May 31, 2022 | HK$0.197 | 7.07% |
| 5 | May 11, 2021 | May 11, 2021 | May 11, 2021 | HK$0.125 | 4.73% |
FAQ
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