China Taiping Insurance Holdings Co Ltd Stock Forecast
China Taiping Insurance Holdings Co Ltd stock upgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The China Taiping Insurance Holdings Co Ltd stock price gained 2.54% on the last trading day (Thursday, 28th Mar 2024), rising from HK$6.68 to HK$6.85. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.17% from a day low at HK$6.58 to a day high of HK$6.92. The price has risen in 5 of the last 10 days but is still down by -2% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately HK$63.67 million.
The stock lies in the middle of a wide and strong 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 10.78% during the next 3 months and, with a 90% probability hold a price between HK$6.91 and HK$8.19 at the end of this 3-month period.
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0966.HK Signals & Forecast
The China Taiping Insurance Holdings Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$6.70 and HK$6.81. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -5.52%. 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).
Support, Risk & Stop-loss for China Taiping Insurance Holdings Co Ltd stock
China Taiping Insurance Holdings Co Ltd finds support from accumulated volume at HK$6.58 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$0.340 between high and low, or 5.17%. For the last week, the stock has had daily average volatility of 4.58%.
Our recommended stop-loss: HK$6.51 (-4.92%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (0966.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect China Taiping Insurance Holdings Company Limited to open at HK$6.78, and during the day (based on 14 day Average True Range), to move between HK$6.59 and HK$7.11, which gives a possible trading interval of +/-HK$0.264 (+/-3.85%) up or down from last closing price. If China Taiping Insurance Holdings Company Limited takes out the full calculated possible swing range there will be an estimated 7.71% 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$6.87 (0.29%) than the support at HK$6.58 (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 Taiping Insurance Holdings Company Limited stock A Buy?
China Taiping Insurance Holdings Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.453 Hold/Accumulate Upgraded
Predicted Opening Price for China Taiping Insurance Holdings Company Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$6.78 ( 0.97%) | HK$6.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0966.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.12 | 3.99 % | |
R2 | 6.99 | 2.09 % | ||
R1 | 6.91 | 0.92 % | ||
Current price: | 6.85 | |||
Support | S1 | 6.65 | -2.87 % | |
S2 | 6.57 | -4.04 % | ||
S3 | 6.44 | -5.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.03 | 2.63 % | |
R2 | 6.95 | 1.46 % | ||
R1 | 6.87 | 0.292 % | ||
Current price | 6.85 | |||
Support | S1 | 6.58 | -3.94% | |
S2 | 6.53 | -4.67% | ||
S3 | 6.30 | -8.03% |
0966 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 10, 2024 | Jul 10, 2024 | Jul 23, 2024 | HK$0.300 | 4.39% |
2 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | HK$0.260 | 3.35% |
3 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | HK$0.460 | 5.19% |
4 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | HK$0.400 | 3.35% |
5 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | HK$0.300 | 1.94% |
FAQ
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