Shenzhen Expressway Corporation Limited Stock Forecast
Shenzhen Expressway Corporation Limited stock price up 1.38% on Tuesday
(Updated on Jul 02, 2024)
The Shenzhen Expressway Corporation Limited stock price gained 1.38% on the last trading day (Tuesday, 2nd Jul 2024), rising from $10.86 to $11.01. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.04% from a day low at $10.81 to a day high of $11.03. The price has risen in 7 of the last 10 days and is up by 5.16% 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, 381 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $47.55 million.
The stock lies in the middle of a weak 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 3.63% during the next 3 months and, with a 90% probability hold a price between $10.72 and $11.59 at the end of this 3-month period.
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600548.SS Signals & Forecast
Mostly positive signals in the chart today. The Shenzhen Expressway Corporation Limited 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 $10.63 and $10.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 7.21%. 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 Shenzhen Expressway Corporation Limited stock
Shenzhen Expressway Corporation Limited finds support from accumulated volume at $10.47 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 $0.220 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: $10.46 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (600548.SS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Shenzhen Expressway Corporation Limited to open at $10.95, and during the day (based on 14 day Average True Range), to move between $10.80 and $11.22, which gives a possible trading interval of +/-$0.214 (+/-1.94%) up or down from last closing price. If Shenzhen Expressway Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.02 (0.09%) than the support at $10.47 (4.90%), 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 Shenzhen Expressway Corporation Limited stock A Buy?
Shenzhen Expressway Corporation Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". 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: 8.207 Strong Buy Candidate Unchanged
Predicted Opening Price for Shenzhen Expressway Corporation Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $10.95 ( 0.545%) | $11.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600548.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.17 | 1.45% |
| R2 | 11.09 | 0.690% |
| R1 | 11.03 | 0.218% |
| Price | 11.01 | |
| S1 | 10.87 | -1.31% |
| S2 | 10.81 | -1.78% |
| S3 | 10.73 | -2.54% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 11.02 | 0.0908% |
| Price | 11.01 | |
| S1 | 10.47 | -4.90% |
| S2 | 10.39 | -5.63% |
| S3 | 10.09 | -8.36% |
600548 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2023 | May 31, 2023 | May 31, 2023 | $0.462 | 5.12% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | $0.620 | 7.11% |
| 3 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | $0.430 | 4.77% |
| 4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.520 | 5.47% |
| 5 | Jun 06, 2019 | Jun 06, 2019 | Jun 06, 2019 | $0.350 | 3.71% |
FAQ
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