Guangdong Provincial Expressway Stock Forecast
Weaker technical forecast for Guangdong Provincial Expressway as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Guangdong Provincial Expressway stock price gained 0.139% on the last trading day (Friday, 28th Jun 2024), rising from ¥7.22 to ¥7.23. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.417% from a day low at ¥7.20 to a day high of ¥7.23. The price has risen in 8 of the last 10 days and is up by 2.41% over the past 2 weeks. Volume fell on the last day by -217 thousand shares and in total, 275 thousand shares were bought and sold for approximately ¥1.99 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 has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ¥7.23, a level that may pose a second chance to hit a runner. According to fan-theory ¥7.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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200429.SZ Signals & Forecast
The Guangdong Provincial Expressway 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 ¥7.18 and ¥7.05. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.48%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Guangdong Provincial Expressway stock
Guangdong Provincial Expressway finds support from accumulated volume at ¥7.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ¥0.0300 between high and low, or 0.417%. For the last week the stock has had daily average volatility of 0.87%.
Our recommended stop-loss: ¥7.00 (-3.12%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (200429.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Guangdong Provincial Expressway Development Co., Ltd. to open at ¥7.22, and during the day (based on 14 day Average True Range), to move between ¥7.16 and ¥7.30, which gives a possible trading interval of +/-¥0.0653 (+/-0.90%) up or down from last closing price. If Guangdong Provincial Expressway Development Co., Ltd. takes out the full calculated possible swing range there will be an estimated 1.81% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥7.10, some ¥0.130 (1.80%) from the current price of ¥7.23, our system finds the risk reward attractive.
Is Guangdong Provincial Expressway Development Co., Ltd. stock A Buy?
Guangdong Provincial Expressway 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Guangdong Provincial Expressway Development Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ¥7.22 ( 0.138%) | ¥7.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 200429.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.25 | 0.277% |
| R2 | 7.24 | 0.118% |
| R1 | 7.23 | 0.0202% |
| Price | 7.23 | |
| S1 | 7.21 | -0.297% |
| S2 | 7.20 | -0.395% |
| S3 | 7.19 | -0.553% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 7.23 | |
| S1 | 7.10 | -1.80% |
| S2 | 6.89 | -4.70% |
| S3 | 6.86 | -5.12% |
200429 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ¥0.464 | 8.15% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | ¥0.664 | 12.00% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | ¥0.350 | 6.67% |
| 4 | Aug 06, 2020 | Aug 06, 2020 | Aug 06, 2020 | ¥0.462 | 10.50% |
| 5 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | ¥0.639 | 10.10% |
FAQ
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