Eastern Communications Co., Ltd. Stock Forecast
Eastern Communications Co., Ltd. stock price up 0.496% on Friday
(Updated on Jun 21, 2024)
The Eastern Communications Co., Ltd. stock price gained 0.496% on the last trading day (Friday, 21st Jun 2024), rising from $10.08 to $10.13. During the last trading day the stock fluctuated 2.62% from a day low at $9.92 to a day high of $10.18. The price has risen in 8 of the last 10 days and is up by 4.97% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 5 million shares were bought and sold for approximately $55.62 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 middle of a wide and 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 4.40% during the next 3 months and, with a 90% probability hold a price between $9.53 and $11.52 at the end of this 3-month period.
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600776.SS Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eastern Communications Co., Ltd. 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 $10.18 and $10.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -5.94%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Eastern Communications Co., Ltd. stock
Eastern Communications Co., Ltd. finds support from accumulated volume at $10.04 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 $0.260 between high and low, or 2.62%. For the last week the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (600776.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Eastern Communications Co., Ltd. to open at $10.08, and during the day (based on 14 day Average True Range), to move between $9.86 and $10.40, which gives a possible trading interval of +/-$0.270 (+/-2.67%) up or down from last closing price. If Eastern Communications Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.04 (0.89%) than the resistance at $10.74 (6.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eastern Communications Co., Ltd. stock A Buy?
The Eastern Communications Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Eastern Communications Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.552 Sell Candidate Unchanged
Predicted Opening Price for Eastern Communications Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $10.08 ( 0.526%) | $10.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600776.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.34 | 2.04% |
| R2 | 10.24 | 1.06% |
| R1 | 10.18 | 0.454% |
| Price | 10.13 | |
| S1 | 9.98 | -1.51% |
| S2 | 9.92 | -2.11% |
| S3 | 9.82 | -3.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.77 | 6.32% |
| R2 | 10.75 | 6.12% |
| R1 | 10.74 | 6.02% |
| Price | 10.13 | |
| S1 | 10.04 | -0.89% |
| S2 | 9.49 | -6.32% |
| S3 | 9.47 | -6.52% |
600776 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | $0.0550 | 0.373% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | $0.0400 | 0.383% |
| 3 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | $0.0400 | 0.298% |
| 4 | Jun 18, 2020 | Jun 18, 2020 | Jun 18, 2020 | $0.0400 | 0.261% |
| 5 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.0600 | 0.297% |
FAQ
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