China Shenhua Energy Company Limited Stock Forecast
Evaluation of China Shenhua Energy Company Limited stock downgraded after the last trading session.
(Updated on May 02, 2024)
The China Shenhua Energy Company Limited stock price fell by -0.306% on the last day (Thursday, 2nd May 2024) from HK$32.70 to HK$32.60. During the last trading day the stock fluctuated 1.08% from a day low at HK$32.35 to a day high of HK$32.70. The price has risen in 6 of the last 10 days. 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 -15 million shares and in total, 6 million shares were bought and sold for approximately HK$187.38 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 7.18% during the next 3 months and, with a 90% probability hold a price between HK$32.87 and HK$36.60 at the end of this 3-month period.
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1088.HK Signals & Forecast
The China Shenhua Energy 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$32.11 and HK$31.40. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 11, 2024, and so far it has fallen -0.91%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Shenhua Energy Company Limited stock
China Shenhua Energy Company Limited finds support from accumulated volume at HK$31.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.350 between high and low, or 1.08%. For the last week the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: HK$31.24 (-4.17%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (1088.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect China Shenhua Energy Company Limited to open at HK$32.55, and during the day (based on 14 day Average True Range), to move between HK$31.68 and HK$33.52, which gives a possible trading interval of +/-HK$0.92 (+/-2.83%) up or down from last closing price. If China Shenhua Energy Company Limited takes out the full calculated possible swing range there will be an estimated 5.67% 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$32.70 (0.31%) than the support at HK$31.60 (3.07%), 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 Shenhua Energy Company 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 Shenhua Energy Company Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.404 Buy Candidate Downgraded
Predicted Opening Price for China Shenhua Energy Company Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$32.55 ( 0.153%) | HK$32.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1088.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.90 | 0.92 % | |
| R2 | 32.77 | 0.510 % | ||
| R1 | 32.68 | 0.257 % | ||
| Current price: | 32.60 | |||
| Support | S1 | 32.42 | -0.563 % | |
| S2 | 32.33 | -0.82 % | ||
| S3 | 32.20 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.90 | 0.92 % | |
| R2 | 32.75 | 0.460 % | ||
| R1 | 32.70 | 0.307 % | ||
| Current price | 32.60 | |||
| Support | S1 | 31.60 | -3.07% | |
| S2 | 31.25 | -4.14% | ||
| S3 | 30.25 | -7.21% |
1088 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Aug 21, 2024 | HK$2.45 | 7.55% |
| 2 | Jun 21, 2023 | Jun 21, 2023 | Jun 21, 2023 | HK$2.91 | 12.33% |
| 3 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | HK$3.13 | 13.80% |
| 4 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | HK$2.16 | 14.17% |
| 5 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | HK$1.26 | 9.87% |
FAQ
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