China Development Bank Financial Leasing Stock Forecast
China Development Bank Financial Leasing stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Mar 28, 2024)
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
# | 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
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