New China Life Insurance Company Ltd. Stock Forecast
New China Life Insurance Company Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The New China Life Insurance Company Ltd. stock price gained 3.07% on the last trading day (Friday, 26th Apr 2024), rising from HK$14.32 to HK$14.76. During the last trading day the stock fluctuated 3.91% from a day low at HK$14.32 to a day high of HK$14.88. The price has risen in 7 of the last 10 days and is up by 13.89% 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$130.36 million.
The stock lies the upper part of a wide and falling 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$15.05 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.54% during the next 3 months and, with a 90% probability hold a price between HK$11.83 and HK$14.07 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1336.HK Signals & Forecast
Mostly positive signals in the chart today. The New China Life Insurance Company 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$14.02 and HK$14.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.31%. 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 New China Life Insurance Company Ltd. stock
New China Life Insurance Company Ltd. finds support from accumulated volume at HK$14.32 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 3.91%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: HK$14.23 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (1336.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect New China Life Insurance Company Ltd. to open at HK$14.65, and during the day (based on 14 day Average True Range), to move between HK$14.31 and HK$15.21, which gives a possible trading interval of +/-HK$0.450 (+/-3.05%) up or down from last closing price. If New China Life Insurance Company Ltd. takes out the full calculated possible swing range there will be an estimated 6.10% 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$14.88 (0.81%) than the support at HK$14.32 (2.98%), 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 New China Life Insurance Company Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.537 Buy Candidate Upgraded
Predicted Opening Price for New China Life Insurance Company Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$14.65 ( 0.723%) | HK$14.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1336.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.21 | 3.07 % | |
| R2 | 15.00 | 1.62 % | ||
| R1 | 14.87 | 0.727 % | ||
| Current price: | 14.76 | |||
| Support | S1 | 14.44 | -2.17 % | |
| S2 | 14.31 | -3.07 % | ||
| S3 | 14.09 | -4.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.46 | 4.74 % | |
| R2 | 15.08 | 2.17 % | ||
| R1 | 14.88 | 0.81 % | ||
| Current price | 14.76 | |||
| Support | S1 | 14.32 | -2.98% | |
| S2 | 13.90 | -5.83% | ||
| S3 | 13.58 | -7.99% |
1336 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | HK$1.18 | 6.06% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$1.69 | 8.45% |
| 3 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | HK$1.67 | 7.09% |
| 4 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | HK$1.54 | 4.50% |
| 5 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | HK$0.88 | 2.39% |
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