Agricultural Bank of China Limited Stock Forecast
Red day on Thursday for Agricultural Bank of China Limited
(Updated on Mar 28, 2024)
The Agricultural Bank of China Limited stock price fell by -0.302% on the last day (Thursday, 28th Mar 2024) from HK$3.31 to HK$3.30. During the last trading day the stock fluctuated 3.10% from a day low at HK$3.23 to a day high of HK$3.33. The price has fallen in 5 of the last 10 days but is still up by 1.85% over the past 2 weeks. Volume has increased on the last day by 3 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, 145 million shares were bought and sold for approximately HK$477.46 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$3.34 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.23% during the next 3 months and, with a 90% probability hold a price between HK$3.58 and HK$3.82 at the end of this 3-month period.
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1288.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.302%. 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 Agricultural Bank of China 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$3.29 and HK$3.23. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Agricultural Bank of China Limited stock
Agricultural Bank of China Limited finds support from accumulated volume at HK$3.23 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$0.100 between high and low, or 3.10%. For the last week the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: HK$3.20 (-3.05%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (1288.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Agricultural Bank of China Limited to open at HK$3.29, and during the day (based on 14 day Average True Range), to move between HK$3.23 and HK$3.37, which gives a possible trading interval of +/-HK$0.0728 (+/-2.21%) up or down from last closing price. If Agricultural Bank of China Limited takes out the full calculated possible swing range there will be an estimated 4.41% 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$3.31 (0.30%) than the support at HK$3.23 (2.12%), 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 Agricultural Bank of China 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 Agricultural Bank of China Limited stock to perform well in the short-term.
Current score: 1.807 Buy Candidate Unchanged
Predicted Opening Price for Agricultural Bank of China Limited of Tuesday, April 2, 2024
Fair opening price April 2, 2024 | Current price |
---|---|
HK$3.29 ( 0.404%) | HK$3.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1288.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.39 | 2.63 % | |
R2 | 3.35 | 1.47 % | ||
R1 | 3.32 | 0.754 % | ||
Current price: | 3.30 | |||
Support | S1 | 3.25 | -1.56 % | |
S2 | 3.22 | -2.28 % | ||
S3 | 3.19 | -3.43 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 3.31 | 0.303 % | ||
Current price | 3.30 | |||
Support | S1 | 3.23 | -2.12% | |
S2 | 3.13 | -5.15% | ||
S3 | 3.02 | -8.48% |
1288 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 10, 2023 | Jul 10, 2023 | Jul 10, 2023 | HK$0.241 | 9.24% |
2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.242 | 8.96% |
3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | HK$0.224 | 7.96% |
4 | Jul 02, 2020 | Jul 02, 2020 | Jul 02, 2020 | HK$0.199 | 6.82% |
5 | Jun 11, 2019 | Jun 11, 2019 | Jun 11, 2019 | HK$0.198 | 6.09% |
FAQ
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