Anhui Conch Cement Company Limited Stock Forecast
Green day on Friday for Anhui Conch Cement Company Limited
(Updated on Apr 26, 2024)
The Anhui Conch Cement Company Limited stock price gained 2.76% on the last trading day (Friday, 26th Apr 2024), rising from HK$17.38 to HK$17.86. During the last trading day the stock fluctuated 3.23% from a day low at HK$17.34 to a day high of HK$17.90. The price has risen in 6 of the last 10 days and is up by 3.24% 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, 2 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$166.82 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 7.21% during the next 3 months and, with a 90% probability hold a price between HK$17.75 and HK$19.98 at the end of this 3-month period.
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0914.HK Signals & Forecast
Mostly positive signals in the chart today. The Anhui Conch Cement 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$17.45 and HK$17.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 9.84%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Anhui Conch Cement Company Limited stock
Anhui Conch Cement Company Limited finds support from accumulated volume at HK$17.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.560 between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 2.36%.
Our recommended stop-loss: HK$17.12 (-4.14%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (0914.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Anhui Conch Cement Company Limited to open at HK$17.70, and during the day (based on 14 day Average True Range), to move between HK$17.42 and HK$18.30, which gives a possible trading interval of +/-HK$0.443 (+/-2.48%) up or down from last closing price. If Anhui Conch Cement Company Limited takes out the full calculated possible swing range there will be an estimated 4.96% 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$17.92 (0.34%) than the support at HK$17.44 (2.35%), 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 Anhui Conch Cement Company Limited stock A Buy?
Anhui Conch Cement Company Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.744 Strong Buy Candidate Unchanged
Predicted Opening Price for Anhui Conch Cement Company Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$17.70 ( 0.90%) | HK$17.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0914.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.26 | 2.24 % | |
| R2 | 18.05 | 1.04 % | ||
| R1 | 17.91 | 0.302 % | ||
| Current price: | 17.86 | |||
| Support | S1 | 17.49 | -2.09 % | |
| S2 | 17.35 | -2.83 % | ||
| S3 | 17.14 | -4.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 18.00 | 0.784 % | ||
| R1 | 17.92 | 0.336 % | ||
| Current price | 17.86 | |||
| Support | S1 | 17.44 | -2.35% | |
| S2 | 17.36 | -2.80% | ||
| S3 | 16.28 | -8.85% |
0914 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jul 03, 2024 | HK$1.04 | 5.81% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$1.64 | 8.04% |
| 3 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | HK$2.79 | 8.11% |
| 4 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$2.56 | 5.57% |
| 5 | Jun 02, 2020 | Jun 02, 2020 | Jun 02, 2020 | HK$2.18 | 3.89% |
FAQ
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