New China Life Insurance Company Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
New China Life Insurance Company Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 08, 2024)
The New China Life Insurance Company Ltd. stock price fell by -3.60% on the last day (Wednesday, 8th May 2024) from HK$16.10 to HK$15.52. During the last trading day the stock fluctuated 3.89% from a day low at HK$15.44 to a day high of HK$16.04. The price has risen in 6 of the last 10 days and is up by 12.46% 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, 8 million shares were bought and sold for approximately HK$117.19 million.
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 -2.30% during the next 3 months and, with a 90% probability hold a price between HK$12.41 and HK$15.79 at the end of this 3-month period.
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1336.HK Signals & Forecast
The New China Life Insurance Company Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$15.71. On a fall, the stock will find some support from the long-term average at approximately HK$14.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 -4.08%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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$0.600 between high and low, or 3.89%. For the last week, the stock has had daily average volatility of 3.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1336.HK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect New China Life Insurance Company Ltd. to open at HK$15.67, and during the day (based on 14 day Average True Range), to move between HK$15.02 and HK$16.02, which gives a possible trading interval of +/-HK$0.501 (+/-3.23%) 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 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$15.46 (0.39%) than the resistance at HK$15.78 (1.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is New China Life Insurance Company Ltd. stock A Buy?
New China Life Insurance Company Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.419 Sell Candidate Downgraded
Predicted Opening Price for New China Life Insurance Company Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| HK$15.67 ( 0.95%) | HK$15.52 |
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 | 16.27 | 4.81 % | |
| R2 | 16.04 | 3.33 % | ||
| R1 | 15.90 | 2.42 % | ||
| Current price: | 15.52 | |||
| Support | S1 | 15.44 | -0.532 % | |
| S2 | 15.30 | -1.44 % | ||
| S3 | 15.07 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.00 | 3.09 % | |
| R2 | 15.82 | 1.93 % | ||
| R1 | 15.78 | 1.68 % | ||
| Current price | 15.52 | |||
| Support | S1 | 15.46 | -0.387% | |
| S2 | 14.32 | -7.73% | ||
| S3 | 13.58 | -12.50% |
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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