Bank of Communications Co., Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Bank of Communications Co., Ltd. stock price ended at $7.33 on Wednesday, after gaining 0.687%.
(Updated on Jun 26, 2024)
The Bank of Communications Co., Ltd. stock price gained 0.687% on the last trading day (Wednesday, 26th Jun 2024), rising from $7.28 to $7.33. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.10% from a day low at $7.28 to a day high of $7.36. The price has risen in 8 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume fell on the last day by -18 million shares and in total, 135 million shares were bought and sold for approximately $990.82 million. 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 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 11.25% during the next 3 months and, with a 90% probability hold a price between $7.68 and $8.36 at the end of this 3-month period.
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601328.SS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -0.408%. 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). The Bank of Communications 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 $7.19 and $7.07. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Bank of Communications Co., Ltd. stock
Bank of Communications Co., Ltd. finds support from accumulated volume at $7.21 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 $0.0800 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.
Since the Bank of Communications Co., Ltd. has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $7.06 (-3.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 58 days ago.)
Trading Expectations (601328.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Bank of Communications Co., Ltd. to open at $7.32, and during the day (based on 14 day Average True Range), to move between $7.19 and $7.47, which gives a possible trading interval of +/-$0.136 (+/-1.85%) 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 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.36 (0.41%) than the support at $7.21 (1.64%), 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?
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 Bank of Communications Co., Ltd. stock to perform well in the short-term.
Current score: 3.662 Buy Candidate Unchanged
Predicted Opening Price for Bank of Communications Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $7.32 ( 0.0910%) | $7.33 |
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 | 7.40 | 1.00% |
| R2 | 7.37 | 0.584% |
| R1 | 7.35 | 0.326% |
| Price | 7.33 | |
| S1 | 7.29 | -0.508% |
| S2 | 7.27 | -0.765% |
| S3 | 7.24 | -1.18% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 7.36 | 0.409% |
| Price | 7.33 | |
| S1 | 7.21 | -1.64% |
| S2 | 7.15 | -2.46% |
| S3 | 6.80 | -7.23% |
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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