Jiangsu Changshu Rural Commercial Bank Stock Forecast
Green day on Thursday for Jiangsu Changshu Rural Commercial Bank stock after gaining 1.77%
(Updated on Jun 27, 2024)
The Jiangsu Changshu Rural Commercial Bank stock price gained 1.77% on the last trading day (Thursday, 27th Jun 2024), rising from $7.33 to $7.46. It has now gained 3 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 3.56% from a day low at $7.30 to a day high of $7.56. The price has risen in 6 of the last 10 days and is up by 2.19% 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, 11 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately $243.26 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $7.27 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Jiangsu Changshu Rural Commercial Bank stock with a 90% probability to be traded between $7.40 and $9.17 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.
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601128.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 2.90%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Jiangsu Changshu Rural Commercial Bank stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.93. On a fall, the stock will find some support from the short-term average at $7.32. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Jiangsu Changshu Rural Commercial Bank stock
Jiangsu Changshu Rural Commercial Bank finds support from accumulated volume at $7.45 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 $0.260 (3.56%) between high and low. For the last week, the stock has had daily average volatility of 2.48%.
Our recommended stop-loss: $7.04 (-5.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (601128.SS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Jiangsu Changshu Rural Commercial Bank Co., Ltd. to open at $7.44, and during the day (based on 14 day Average True Range), to move between $7.25 and $7.67, which gives a possible trading interval of +/-$0.211 (+/-2.82%) up or down from last closing price. If Jiangsu Changshu Rural Commercial Bank Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.45 (0.13%) than the resistance at $7.50 (0.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jiangsu Changshu Rural Commercial Bank Co., Ltd. stock A Buy?
Jiangsu Changshu Rural Commercial Bank holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.198 Hold/Accumulate Unchanged
Predicted Opening Price for Jiangsu Changshu Rural Commercial Bank Co., Ltd. of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $7.44 ( 0.268%) | $7.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601128.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.70 | 3.22% |
| R2 | 7.60 | 1.89% |
| R1 | 7.54 | 1.06% |
| Price | 7.46 | |
| S1 | 7.34 | -1.60% |
| S2 | 7.28 | -2.42% |
| S3 | 7.18 | -3.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.95 | 6.57% |
| R2 | 7.56 | 1.34% |
| R1 | 7.50 | 0.536% |
| Price | 7.46 | |
| S1 | 7.45 | -0.134% |
| S2 | 7.41 | -0.670% |
| S3 | 7.30 | -2.14% |
601128 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | $0.250 | 3.24% |
| 2 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | $0.250 | 4.00% |
| 3 | Jun 08, 2022 | Jun 08, 2022 | Jun 08, 2022 | $0.200 | 3.10% |
| 4 | May 26, 2021 | May 26, 2021 | May 26, 2021 | $0.200 | 3.11% |
| 5 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | $0.200 | 2.75% |
FAQ
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