Eastern Communications Co., Ltd. Stock Forecast
A very strong day for Eastern Communications Co., Ltd. stock price on Wednesday
(Updated on Jun 26, 2024)
The Eastern Communications Co., Ltd. stock price gained 5.64% on the last trading day (Wednesday, 26th Jun 2024), rising from $9.40 to $9.93. During the last trading day the stock fluctuated 6.77% from a day low at $9.31 to a day high of $9.94. The price has risen in 6 of the last 10 days but is still down by -0.7% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 233 thousand more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $83.28 million.
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 3.89% during the next 3 months and, with a 90% probability hold a price between $9.77 and $11.46 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
600776.SS Signals & Forecast
There are mixed signals in the stock today. 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 $9.98 and $10.14. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.64%. 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 Eastern Communications Co., Ltd. stock
Eastern Communications Co., Ltd. finds support from accumulated volume at $9.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.630 (6.77%) between high and low. For the last week, the stock has had daily average volatility of 4.34%.
Our recommended stop-loss: $9.52 (-4.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (600776.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Eastern Communications Co., Ltd. to open at $9.73, and during the day (based on 14 day Average True Range), to move between $9.61 and $10.25, which gives a possible trading interval of +/-$0.321 (+/-3.24%) 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 6.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.90 (0.30%) than the resistance at $10.74 (8.16%), 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?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eastern Communications Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.272 Buy Candidate Upgraded
Predicted Opening Price for Eastern Communications Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $9.73 ( 2.05%) | $9.93 |
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 | 10.36 | 4.30% |
| R2 | 10.12 | 1.87% |
| R1 | 9.97 | 0.376% |
| Price | 9.93 | |
| S1 | 9.49 | -4.47% |
| S2 | 9.34 | -5.97% |
| S3 | 9.10 | -8.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.77 | 8.46% |
| R2 | 10.75 | 8.26% |
| R1 | 10.74 | 8.16% |
| Price | 9.93 | |
| S1 | 9.90 | -0.302% |
| S2 | 9.49 | -4.43% |
| S3 | 9.47 | -4.63% |
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
Click here for our free guide on how to buy Eastern Communications Co., Ltd. Stock.
