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AI Analysis of 1606.HK
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China Development Bank Financial Leasing stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The China Development Bank Financial Leasing stock price fell by -2.44% on the last day (Thursday, 28th Mar 2024) from HK$2.05 to HK$2.00. During the last trading day the stock fluctuated 2.50% from a day low at HK$2.00 to a day high of HK$2.05. The price has fallen in 5 of the last 10 days and is down by -3.38% for this period. Volume has increased on the last day by 718 thousand 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, 3 million shares were bought and sold for approximately HK$5.72 million.

Given the current short-term trend, the stock is expected to rise 64.82% during the next 3 months and, with a 90% probability hold a price between HK$3.30 and HK$4.14 at the end of this 3-month period.

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1606.HK Signals & Forecast

There are few to no technical positive signals at the moment. The China Development Bank Financial Leasing stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$2.08 and HK$2.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -13.79%. 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.

Support, Risk & Stop-loss for China Development Bank Financial Leasing stock

China Development Bank Financial Leasing finds support from accumulated volume at HK$1.97 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$0.0500 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 3.35%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (1606.HK) For The Upcoming Trading Day Of Tuesday 2nd

For the upcoming trading day on Tuesday, 2nd we expect China Development Bank Financial Leasing Co., Ltd. to open at HK$2.02, and during the day (based on 14 day Average True Range), to move between HK$1.90 and HK$2.10, which gives a possible trading interval of +/-HK$0.101 (+/-5.06%) up or down from last closing price. If China Development Bank Financial Leasing Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.11% 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$1.97 (1.50%) than the resistance at HK$2.07 (3.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is China Development Bank Financial Leasing Co., Ltd. stock A Buy?

The China Development Bank Financial Leasing stock holds several negative signals and despite the positive trend, we believe China Development Bank Financial Leasing will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -4.833 Sell Candidate Downgraded

Predicted Opening Price for China Development Bank Financial Leasing Co., Ltd. of Tuesday, April 2, 2024

Fair opening price April 2, 2024 Current price
HK$2.02 ( 0.83%) HK$2.00

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for 1606.HK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 2.07 3.33 %
R2 2.05 2.38 %
R1 2.04 1.79 %
Current price: 2.00
Support S1 2.00 -0.122 %
S2 1.99 -0.712 %
S3 1.97 -1.67 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 2.13 6.50 %
R2 2.10 5.00 %
R1 2.07 3.50 %
Current price 2.00
Support S1 1.97 -1.50%
S2 1.86 -7.00%
S3 1.77 -11.50%

1606 Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jun 30, 2023 Jun 30, 2023 Jun 30, 2023 HK$0.0867 8.34%
2 Jun 30, 2022 Jun 30, 2022 Jun 30, 2022 HK$0.109 10.49%
3 Jul 02, 2021 Jul 02, 2021 Jul 02, 2021 HK$0.0931 8.24%
4 Mar 27, 2020 Jul 16, 2020 Aug 24, 2020 HK$0.114 9.78%
5 Mar 28, 2019 Jul 03, 2019 Aug 09, 2019 HK$0.102 6.47%

FAQ

What is the symbol for China Development Bank Financial Leasing Co., Ltd. Stock and on which exchange is it traded?
The symbol for China Development Bank Financial Leasing Co., Ltd. is 1606.HK and it is traded on the HKEX (Hong Kong Stock Exchange).

Should I buy or sell China Development Bank Financial Leasing Co., Ltd. Stock?
The China Development Bank Financial Leasing stock holds several negative signals and despite the positive trend, we believe China Development Bank Financial Leasing will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

How to buy China Development Bank Financial Leasing Co., Ltd. Stock?
China Development Bank Financial Leasing Co., Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy China Development Bank Financial Leasing Co., Ltd. Stock.

What's the current price of China Development Bank Financial Leasing Co., Ltd. Stock?
As of the end of day on the 2024-03-28, the price of an China Development Bank Financial Leasing Co., Ltd. (1606.HK) share was HK$2.00.

What is the 52-week high and low for China Development Bank Financial Leasing Co., Ltd. Stock?
The 52-week high for China Development Bank Financial Leasing Co., Ltd. Stock is HK$2.38 and the 52-week low is HK$1.00.

What is the market capitalization of China Development Bank Financial Leasing Co., Ltd. Stock?
As of the 2024-03-28, the market capitalization of China Development Bank Financial Leasing Co., Ltd. is 26.413B.
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