China Merchants Securities Co., Ltd. Stock Forecast
Red day on Thursday for China Merchants Securities Co., Ltd.
(Updated on Jun 27, 2024)
The China Merchants Securities Co., Ltd. stock price fell by -0.141% on the last day (Thursday, 27th Jun 2024) from $14.23 to $14.21. During the last trading day the stock fluctuated 0.85% from a day low at $14.14 to a day high of $14.26. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 11 million shares were bought and sold for approximately $158.91 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $14.07 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Merchants Securities Co., Ltd. stock with a 90% probability to be traded between $14.24 and $15.56 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
600999.SS Signals & Forecast
There are mixed signals in the stock today. The China Merchants Securities 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 $14.22 and $14.36. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.28%. 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).
Support, Risk & Stop-loss for China Merchants Securities Co., Ltd. stock
China Merchants Securities Co., Ltd. finds support from accumulated volume at $14.15 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 $0.120 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: $13.43 (-5.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (600999.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect China Merchants Securities Co., Ltd. to open at $14.20, and during the day (based on 14 day Average True Range), to move between $14.00 and $14.42, which gives a possible trading interval of +/-$0.209 (+/-1.47%) up or down from last closing price. If China Merchants Securities Co., Ltd. takes out the full calculated possible swing range there will be an estimated 2.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.15 (0.42%) than the resistance at $14.29 (0.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Merchants Securities Co., Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for China Merchants Securities Co., Ltd. stock to perform well in the short-term period.
Current score: 2.062 Buy Candidate Unchanged
Predicted Opening Price for China Merchants Securities Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $14.20 ( 0.0469%) | $14.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600999.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.32 | 0.798% |
| R2 | 14.28 | 0.475% |
| R1 | 14.25 | 0.276% |
| Price | 14.21 | |
| S1 | 14.16 | -0.370% |
| S2 | 14.13 | -0.569% |
| S3 | 14.08 | -0.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15.24 | 7.25% |
| R2 | 14.91 | 4.93% |
| R1 | 14.29 | 0.563% |
| Price | 14.21 | |
| S1 | 14.15 | -0.422% |
| S2 | 14.03 | -1.27% |
| S3 | 13.88 | -2.32% |
600999 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Jul 25, 2023 | Jul 25, 2023 | $0.185 | 1.30% |
| 2 | Aug 08, 2022 | Aug 08, 2022 | Aug 08, 2022 | $0.540 | 4.03% |
| 3 | Jul 30, 2021 | Jul 30, 2021 | Jul 30, 2021 | $0.437 | 2.64% |
| 4 | Dec 11, 2020 | Dec 11, 2020 | Dec 11, 2020 | $0.335 | 1.53% |
| 5 | Aug 27, 2019 | Aug 27, 2019 | Aug 27, 2019 | $0.219 | 1.34% |
FAQ
Click here for our free guide on how to buy China Merchants Securities Co., Ltd. Stock.
