Bank of Communications Co., Ltd. Stock Forecast
Bank of Communications Co., Ltd. stock price ended at $6.94 on Tuesday, after gaining 1.02%.
(Updated on Jun 18, 2024)
The Bank of Communications Co., Ltd. stock price gained 1.02% on the last trading day (Tuesday, 18th Jun 2024), rising from $6.87 to $6.94. During the last trading day the stock fluctuated 3.11% from a day low at $6.75 to a day high of $6.96. The price has fallen in 5 of the last 10 days and is down by -2.12% for this period. Volume fell on the last day by -59 million shares and in total, 181 million shares were bought and sold for approximately $1.25 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.83 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 13.76% during the next 3 months and, with a 90% probability hold a price between $7.77 and $8.48 at the end of this 3-month period.
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601328.SS Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bank of Communications Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $7.04 and $7.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -5.71%. 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).
Support, Risk & Stop-loss for Bank of Communications Co., Ltd. stock
Bank of Communications Co., Ltd. finds support from accumulated volume at $6.87 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 $0.210 between high and low, or 3.11%. For the last week the stock has had daily average volatility of 2.88%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601328.SS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Bank of Communications Co., Ltd. to open at $6.88, and during the day (based on 14 day Average True Range), to move between $6.79 and $7.09, which gives a possible trading interval of +/-$0.147 (+/-2.12%) up or down from last closing price. If Bank of Communications Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.99 (0.72%) than the support at $6.87 (1.01%), 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 Bank of Communications Co., Ltd. stock A Buy?
The Bank of Communications Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Bank of Communications Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.629 Sell Candidate Unchanged
Predicted Opening Price for Bank of Communications Co., Ltd. of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $6.88 ( 0.82%) | $6.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601328.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.09 | 2.21% |
| R2 | 7.01 | 1.05% |
| R1 | 6.96 | 0.339% |
| Price | 6.94 | |
| S1 | 6.80 | -1.97% |
| S2 | 6.75 | -2.69% |
| S3 | 6.67 | -3.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.21 | 3.89% |
| R2 | 7.09 | 2.16% |
| R1 | 6.99 | 0.720% |
| Price | 6.94 | |
| S1 | 6.87 | -1.01% |
| S2 | 6.85 | -1.30% |
| S3 | 6.80 | -2.02% |
601328 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2023 | Jul 12, 2023 | Jul 12, 2023 | $0.373 | 6.87% |
| 2 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | $0.355 | 7.65% |
| 3 | Jul 13, 2021 | Jul 13, 2021 | Jul 13, 2021 | $0.317 | 7.09% |
| 4 | Jul 14, 2020 | Jul 14, 2020 | Jul 14, 2020 | $0.315 | 6.26% |
| 5 | Jul 09, 2019 | Jul 09, 2019 | Jul 09, 2019 | $0.300 | 5.20% |
FAQ
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