China Life Insurance Company Limited Stock Forecast
China Life Insurance Company Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 17, 2024)
The China Life Insurance Company Limited stock price fell by -0.556% on the last day (Monday, 17th Jun 2024) from HK$10.80 to HK$10.74. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 2.82% from a day low at HK$10.62 to a day high of HK$10.92. The price has fallen in 8 of the last 10 days and is down by -3.07% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -17 million shares and in total, 21 million shares were bought and sold for approximately HK$224.70 million.
Given the current short-term trend, the stock is expected to rise 27.83% during the next 3 months and, with a 90% probability hold a price between HK$13.73 and HK$17.94 at the end of this 3-month period.
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2628.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Life Insurance Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$11.00 and HK$11.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -17.38%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Life Insurance Company Limited stock
China Life Insurance Company Limited finds support from accumulated volume at HK$10.54 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$0.300 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: HK$10.04 (-6.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (2628.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect China Life Insurance Company Limited to open at HK$10.76, and during the day (based on 14 day Average True Range), to move between HK$10.36 and HK$11.12, which gives a possible trading interval of +/-HK$0.375 (+/-3.49%) 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 6.99% 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$10.54 (1.86%) than the resistance at HK$11.76 (9.50%), 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 Life Insurance Company Limited stock A Buy?
China Life Insurance Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.739 Hold/Accumulate Upgraded
Predicted Opening Price for China Life Insurance Company Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$10.76 ( 0.186%) | HK$10.74 |
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 | 11.06 | 2.98% |
| R2 | 10.95 | 1.91% |
| R1 | 10.87 | 1.25% |
| Price | 10.74 | |
| S1 | 10.65 | -0.88% |
| S2 | 10.57 | -1.54% |
| S3 | 10.46 | -2.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.00 | 21.04% |
| R2 | 12.38 | 15.27% |
| R1 | 11.76 | 9.50% |
| Price | 10.74 | |
| S1 | 10.54 | -1.86% |
| S2 | 10.04 | -6.52% |
| S3 | 9.39 | -12.57% |
2628 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2024 | Jul 03, 2024 | Aug 22, 2024 | HK$0.465 | 4.33% |
| 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
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