New China Life Insurance Company Ltd. Stock Forecast
Green day on Tuesday for New China Life Insurance Company Ltd.
(Updated on May 07, 2024)
The New China Life Insurance Company Ltd. stock price gained 0.625% on the last trading day (Tuesday, 7th May 2024), rising from HK$16.00 to HK$16.10. During the last trading day the stock fluctuated 2.26% from a day low at HK$15.94 to a day high of HK$16.30. The price has risen in 7 of the last 10 days and is up by 17.01% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 5 million shares were bought and sold for approximately HK$78.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very 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$16.16 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 -3.01% during the next 3 months and, with a 90% probability hold a price between HK$12.29 and HK$15.68 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
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. 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$15.60 and HK$14.18. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, May 03, 2024, and so far it has fallen -0.494%. Further fall is indicated until a new bottom pivot has been found.
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$15.46 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.360 between high and low, or 2.26%. For the last week, the stock has had daily average volatility of 3.56%.
The New China Life Insurance Company Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$15.64 (-2.84%) (This stock has high daily movements and this gives high risk. The RSI14 is 92 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (1336.HK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect New China Life Insurance Company Ltd. to open at HK$16.11, and during the day (based on 14 day Average True Range), to move between HK$15.61 and HK$16.59, which gives a possible trading interval of +/-HK$0.490 (+/-3.04%) 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 6.08% 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$16.18 (0.50%) than the support at HK$15.46 (3.98%), 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?
New China Life Insurance Company 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.
Current score: 0.461 Hold/Accumulate Unchanged
Predicted Opening Price for New China Life Insurance Company Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| HK$16.11 ( 0.0828%) | HK$16.10 |
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 | 16.47 | 2.32 % | |
| R2 | 16.34 | 1.46 % | ||
| R1 | 16.25 | 0.94 % | ||
| Current price: | 16.10 | |||
| Support | S1 | 15.98 | -0.771 % | |
| S2 | 15.89 | -1.30 % | ||
| S3 | 15.75 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 16.18 | 0.497 % | ||
| Current price | 16.10 | |||
| Support | S1 | 15.46 | -3.98% | |
| S2 | 14.32 | -11.06% | ||
| S3 | 13.58 | -15.65% |
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% |
FAQ
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