Shanghai Electric Power Co., Ltd. Stock Forecast
Green day on Friday for Shanghai Electric Power Co., Ltd.
(Updated on Jun 28, 2024)
The Shanghai Electric Power Co., Ltd. stock price gained 4.32% on the last trading day (Friday, 28th Jun 2024), rising from $9.48 to $9.89. During the last trading day the stock fluctuated 5.94% from a day low at $9.42 to a day high of $9.98. The price has fallen in 6 of the last 10 days and is down by -2.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 26 million more shares were traded than the day before. In total, 47 million shares were bought and sold for approximately $467.88 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 14.14% during the next 3 months and, with a 90% probability hold a price between $10.85 and $12.71 at the end of this 3-month period.
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600021.SS Signals & Forecast
There are mixed signals in the stock today. The Shanghai Electric Power Co., Ltd. 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 $9.92. On a fall, the stock will find some support from the short-term average at $9.70. 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 Tuesday, May 28, 2024, and so far it has fallen -6.87%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Shanghai Electric Power Co., Ltd. stock
Shanghai Electric Power Co., Ltd. finds support from accumulated volume at $9.60 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 $0.560 between high and low, or 5.94%. For the last week, the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600021.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shanghai Electric Power Co., Ltd. to open at $9.76, and during the day (based on 14 day Average True Range), to move between $9.61 and $10.17, which gives a possible trading interval of +/-$0.282 (+/-2.85%) up or down from last closing price. If Shanghai Electric Power Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.07 (1.82%) than the support at $9.60 (2.93%), 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 Electric Power Co., Ltd. stock A Buy?
Shanghai Electric Power Co., Ltd. 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: -2.181 Sell Candidate Unchanged
Predicted Opening Price for Shanghai Electric Power Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $9.76 ( 1.28%) | $9.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600021.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.32 | 4.38% |
| R2 | 10.11 | 2.22% |
| R1 | 9.98 | 0.88% |
| Price | 9.89 | |
| S1 | 9.55 | -3.44% |
| S2 | 9.42 | -4.78% |
| S3 | 9.20 | -6.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.62 | 7.38% |
| R2 | 10.29 | 4.04% |
| R1 | 10.07 | 1.82% |
| Price | 9.89 | |
| S1 | 9.60 | -2.93% |
| S2 | 9.23 | -6.67% |
| S3 | 9.22 | -6.77% |
600021 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Jun 21, 2024 | $0.200 | 2.06% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | $0.0350 | 0.322% |
| 3 | May 28, 2021 | May 28, 2021 | May 28, 2021 | $0.110 | 1.59% |
| 4 | May 28, 2020 | May 28, 2020 | May 28, 2020 | $0.130 | 1.76% |
| 5 | Jun 13, 2019 | Jun 13, 2019 | Jun 13, 2019 | $0.330 | 3.99% |
FAQ
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