China Yangtze Power Co., Ltd. Stock Forecast
China Yangtze Power Co., Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
No changes to the price of China Yangtze Power Co., Ltd. stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 1.73% from a day low at $28.38 to a day high of $28.87. The price has fallen in 5 of the last 10 days but is still up by 0.95% over the past 2 weeks.
The stock lies in the middle of a 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 15.05% during the next 3 months and, with a 90% probability hold a price between $31.32 and $33.39 at the end of this 3-month period.
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600900.SS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.83%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The China Yangtze Power Co., Ltd. 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 $28.39 and $27.05. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for China Yangtze Power Co., Ltd. stock
China Yangtze Power Co., Ltd. finds support from accumulated volume at $27.90 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 $0.490 (1.73%) between high and low. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $27.50 (-4.01%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (600900.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Yangtze Power Co., Ltd. to open at $28.63, and during the day (based on 14 day Average True Range), to move between $28.15 and $29.15, which gives a possible trading interval of +/-$0.499 (+/-1.74%) up or down from last closing price. If China Yangtze Power Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.70 (0.17%) than the support at $27.90 (2.62%), 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 China Yangtze Power 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 China Yangtze Power 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 Hold/Accumulate to a Buy candidate.
Current score: 1.398 Buy Candidate Upgraded
Predicted Opening Price for China Yangtze Power Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $28.63 ( 0.0582%) | $28.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600900.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.12 | 1.65% |
| R2 | 28.94 | 1.00% |
| R1 | 28.82 | 0.595% |
| Price | 28.65 | |
| S1 | 28.45 | -0.712% |
| S2 | 28.33 | -1.12% |
| S3 | 28.14 | -1.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 28.89 | 0.84% |
| R1 | 28.70 | 0.175% |
| Price | 28.65 | |
| S1 | 27.90 | -2.62% |
| S2 | 25.48 | -11.06% |
| S3 | 25.36 | -11.48% |
600900 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2023 | Jul 21, 2023 | Jul 21, 2023 | $0.85 | 3.95% |
| 2 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | $0.82 | 3.40% |
| 3 | Jul 16, 2021 | Jul 16, 2021 | Jul 16, 2021 | $0.700 | 3.63% |
| 4 | Jul 17, 2020 | Jul 17, 2020 | Jul 17, 2020 | $0.680 | 3.65% |
| 5 | Jul 18, 2019 | Jul 18, 2019 | Jul 18, 2019 | $0.680 | 3.84% |
FAQ
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