Shanghai Pudong Development Bank Co., Stock Forecast
Shanghai Pudong Development Bank Co., stock downgraded to Sell Candidate
(Updated on Jun 18, 2024)
The Shanghai Pudong Development Bank Co., stock price fell by -0.123% on the last day (Tuesday, 18th Jun 2024) from $8.10 to $8.09. During the last trading day the stock fluctuated 1.62% from a day low at $8.02 to a day high of $8.15. The price has fallen in 6 of the last 10 days and is down by -2.29% 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 -3 million shares and in total, 33 million shares were bought and sold for approximately $265.97 million.
Given the current short-term trend, the stock is expected to rise 21.48% during the next 3 months and, with a 90% probability hold a price between $9.83 and $10.83 at the end of this 3-month period.
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600000.SS Signals & Forecast
There are few to no technical positive signals at the moment. The Shanghai Pudong Development Bank Co., 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 $8.15 and $8.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.27%. 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 Shanghai Pudong Development Bank Co., stock
Shanghai Pudong Development Bank Co., finds support from accumulated volume at $7.85 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 $0.130 between high and low, or 1.62%. For the last week the stock has had daily average volatility of 1.72%.
Shanghai Pudong Development Bank Co., is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600000.SS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Shanghai Pudong Development Bank Co., Ltd. to open at $8.09, and during the day (based on 14 day Average True Range), to move between $7.94 and $8.24, which gives a possible trading interval of +/-$0.147 (+/-1.81%) up or down from last closing price. If Shanghai Pudong Development Bank Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.32 (2.84%) than the support at $7.85 (2.97%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Shanghai Pudong Development Bank Co., Ltd. stock A Buy?
The Shanghai Pudong Development Bank Co., stock holds several negative signals and despite the positive trend, we believe Shanghai Pudong Development Bank Co., 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: -2.808 Sell Candidate Downgraded
Predicted Opening Price for Shanghai Pudong Development Bank Co., Ltd. of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $8.09 ( 0.0412%) | $8.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600000.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.22 | 1.57% |
| R2 | 8.17 | 0.95% |
| R1 | 8.14 | 0.573% |
| Price | 8.09 | |
| S1 | 8.04 | -0.655% |
| S2 | 8.01 | -1.03% |
| S3 | 7.96 | -1.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.54 | 5.56% |
| R2 | 8.53 | 5.44% |
| R1 | 8.32 | 2.84% |
| Price | 8.09 | |
| S1 | 7.85 | -2.97% |
| S2 | 7.70 | -4.82% |
| S3 | 7.34 | -9.27% |
600000 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | $0.320 | 4.49% |
| 2 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | $0.410 | 5.59% |
| 3 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | $0.480 | 5.03% |
| 4 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | $0.600 | 5.54% |
| 5 | Jun 11, 2019 | Jun 11, 2019 | Jun 11, 2019 | $0.350 | 3.06% |
FAQ
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