China Life Insurance Company Limited Stock Forecast
Green day on Wednesday for China Life Insurance Company Limited stock after gaining 0.708%
(Updated on Jun 26, 2024)
The China Life Insurance Company Limited stock price gained 0.708% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$11.30 to HK$11.38. During the last trading day the stock fluctuated 3.06% from a day low at HK$11.12 to a day high of HK$11.46. The price has been going up and down for this period, and there has been a 4.21% gain for the last 2 weeks. Volume fell on the last day by -4 million shares and in total, 25 million shares were bought and sold for approximately HK$285.34 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$10.95 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 23.17% during the next 3 months and, with a 90% probability hold a price between HK$13.48 and HK$17.52 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2628.HK Signals & Forecast
There are mixed signals in the stock today. The China Life Insurance Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$11.49. On a fall, the stock will find some support from the short-term average at HK$11.24. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -12.46%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for China Life Insurance Company Limited stock
China Life Insurance Company Limited finds support from accumulated volume at HK$11.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.340 (3.06%) between high and low. For the last week, the stock has had daily average volatility of 2.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2628.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Life Insurance Company Limited to open at HK$11.32, and during the day (based on 14 day Average True Range), to move between HK$11.03 and HK$11.73, which gives a possible trading interval of +/-HK$0.355 (+/-3.12%) up or down from last closing price. If China Life Insurance Company Limited takes out the full calculated possible swing range there will be an estimated 6.23% 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$11.22 (1.41%) than the resistance at HK$11.76 (3.34%), 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 Life Insurance Company Limited stock A Buy?
China Life Insurance Company Limited 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.
Current score: -2.754 Sell Candidate Unchanged
Predicted Opening Price for China Life Insurance Company Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$11.32 ( 0.527%) | HK$11.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2628.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.66 | 2.46% |
| R2 | 11.53 | 1.32% |
| R1 | 11.45 | 0.614% |
| Price | 11.38 | |
| S1 | 11.19 | -1.67% |
| S2 | 11.11 | -2.37% |
| S3 | 10.98 | -3.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.00 | 14.24% |
| R2 | 12.38 | 8.79% |
| R1 | 11.76 | 3.34% |
| Price | 11.38 | |
| S1 | 11.22 | -1.41% |
| S2 | 11.08 | -2.64% |
| S3 | 10.04 | -11.78% |
2628 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2024 | Jul 03, 2024 | Aug 22, 2024 | HK$0.465 | 4.09% |
| 2 | Jul 05, 2023 | Jul 05, 2023 | Jul 05, 2023 | HK$0.533 | 4.21% |
| 3 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | HK$0.762 | 6.10% |
| 4 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | HK$0.768 | 5.33% |
| 5 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | HK$0.800 | 4.14% |
FAQ
Click here for our free guide on how to buy China Life Insurance Company Limited Stock.
