China Power International Development Stock Forecast
China Power International Development stock price ended at HK$4.20 on Tuesday, after gaining 3.70%.
(Updated on Jul 02, 2024)
The China Power International Development stock price gained 3.70% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$4.05 to HK$4.20. During the last trading day the stock fluctuated 3.44% from a day low at HK$4.07 to a day high of HK$4.21. The price has risen in 7 of the last 10 days and is up by 11.7% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 33 million more shares were traded than the day before. In total, 79 million shares were bought and sold for approximately HK$329.73 million.
The stock has broken the strong 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 HK$4.14, a level that may pose a second chance to hit a runner. According to fan-theory HK$4.37 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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2380.HK Signals & Forecast
Mostly positive signals in the chart today. The China Power International Development 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$4.00 and HK$3.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 14.44%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for China Power International Development stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$3.78 and HK$3.50. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Power International Development finds support just below today's level at HK$3.78. If this is broken, then the next support from accumulated volume will be at HK$3.50 and HK$3.16.
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$0.140 between high and low, or 3.44%. For the last week, the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: HK$4.03 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (2380.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect China Power International Development Limited to open at HK$4.16, and during the day (based on 14 day Average True Range), to move between HK$4.08 and HK$4.32, which gives a possible trading interval of +/-HK$0.123 (+/-2.93%) up or down from last closing price. If China Power International Development Limited takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$3.78, some HK$0.420 (10.00%) from the current price of HK$4.20, our system finds the risk reward attractive.
Is China Power International Development Limited stock A Buy?
China Power International Development holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 8.963 Strong Buy Candidate Unchanged
Predicted Opening Price for China Power International Development Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$4.16 ( 0.95%) | HK$4.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2380.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.30 | 2.38% |
| R2 | 4.25 | 1.11% |
| R1 | 4.21 | 0.321% |
| Price | 4.20 | |
| S1 | 4.11 | -2.23% |
| S2 | 4.07 | -3.01% |
| S3 | 4.02 | -4.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 4.20 | |
| S1 | 3.78 | -10.00% |
| S2 | 3.50 | -16.67% |
| S3 | 3.16 | -24.76% |
2380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 28, 2024 | HK$0.146 | 3.59% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | HK$0.126 | 4.49% |
| 3 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0616 | 1.55% |
| 4 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | HK$0.156 | 9.10% |
| 5 | Mar 26, 2020 | Jun 15, 2020 | Jun 30, 2020 | HK$0.143 | 10.04% |
FAQ
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