Ping An Insurance (Group) Co of China, Stock Forecast
Ping An Insurance (Group) Co of China, stock price ended at $41.67 on Friday, after gaining 0.385%.
(Updated on Jun 21, 2024)
The Ping An Insurance (Group) Co of China, stock price gained 0.385% on the last trading day (Friday, 21st Jun 2024), rising from $41.51 to $41.67. During the last trading day the stock fluctuated 1.21% from a day low at $41.32 to a day high of $41.82. The price has fallen in 6 of the last 10 days and is down by -1.84% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 39 million shares were bought and sold for approximately $1.60 billion.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $40.46 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.94% during the next 3 months and, with a 90% probability hold a price between $43.68 and $50.52 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.
601318.SS Signals & Forecast
There are mixed signals in the stock today. The Ping An Insurance (Group) Co of China, 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 $42.86. On a fall, the stock will find some support from the short-term average at $41.67. 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. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -8.34%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Ping An Insurance (Group) Co of China, stock
Ping An Insurance (Group) Co of China, finds support from accumulated volume at $40.56 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 $0.500 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601318.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Ping An Insurance (Group) Company of China, Ltd. to open at $41.60, and during the day (based on 14 day Average True Range), to move between $40.96 and $42.38, which gives a possible trading interval of +/-$0.706 (+/-1.69%) up or down from last closing price. If Ping An Insurance (Group) Company of China, Ltd. takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $40.56 (2.66%) than the resistance at $45.20 (8.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ping An Insurance (Group) Company of China, Ltd. stock A Buy?
Ping An Insurance (Group) Co of China, holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.158 Sell Candidate Unchanged
Predicted Opening Price for Ping An Insurance (Group) Company of China, Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $41.60 ( 0.160%) | $41.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601318.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 42.10 | 1.04% |
| R2 | 41.91 | 0.582% |
| R1 | 41.79 | 0.298% |
| Price | 41.67 | |
| S1 | 41.41 | -0.618% |
| S2 | 41.29 | -0.90% |
| S3 | 41.10 | -1.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.46 | 9.10% |
| R2 | 45.40 | 8.95% |
| R1 | 45.20 | 8.47% |
| Price | 41.67 | |
| S1 | 40.56 | -2.66% |
| S2 | 38.95 | -6.53% |
| S3 | 37.78 | -9.34% |
601318 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Oct 25, 2023 | Oct 25, 2023 | Oct 25, 2023 | $0.93 | 2.04% |
| 2 | Jun 14, 2023 | Jun 14, 2023 | Jun 14, 2023 | $1.50 | 3.12% |
| 3 | Oct 20, 2022 | Oct 20, 2022 | Oct 20, 2022 | $0.92 | 2.30% |
| 4 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | $1.50 | 3.31% |
| 5 | Oct 25, 2021 | Oct 25, 2021 | Oct 25, 2021 | $0.88 | 1.65% |
FAQ
Click here for our free guide on how to buy Ping An Insurance (Group) Company of China, Ltd. Stock.
