Industrial & Commercial Bank of China Stock Forecast
Industrial & Commercial Bank of China stock price down 0.181% on Friday
(Updated on Jun 21, 2024)
The Industrial & Commercial Bank of China stock price fell by -0.181% on the last day (Friday, 21st Jun 2024) from $5.52 to $5.51. During the last trading day the stock fluctuated 0.91% from a day low at $5.48 to a day high of $5.53. The price has risen in 6 of the last 10 days and is up by 0.92% over the past 2 weeks. Volume has increased on the last day by 11 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 225 million shares were bought and sold for approximately $1.24 billion.
The stock lies in the middle of a narrow and weak 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 2.91% during the next 3 months and, with a 90% probability hold a price between $5.62 and $5.83 at the end of this 3-month period.
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601398.SS Signals & Forecast
The Industrial & Commercial Bank of China 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 $5.48 and $5.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 2.61%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, April 01, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, April 01, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Industrial & Commercial Bank of China stock
Industrial & Commercial Bank of China finds support from accumulated volume at $5.50 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 $0.0500 between high and low, or 0.91%. For the last week the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: $5.30 (-3.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (601398.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Industrial & Commercial Bank of China Ltd. to open at $5.51, and during the day (based on 14 day Average True Range), to move between $5.44 and $5.58, which gives a possible trading interval of +/-$0.0651 (+/-1.18%) up or down from last closing price. If Industrial & Commercial Bank of China Ltd. takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.52 (0.18%) than the support at $5.50 (0.18%), 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 Industrial & Commercial Bank of China 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 Industrial & Commercial Bank of China stock to perform well in the short-term.
Current score: 2.631 Buy Candidate Unchanged
Predicted Opening Price for Industrial & Commercial Bank of China Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $5.51 ( 0.0605%) | $5.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601398.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.56 | 0.85% |
| R2 | 5.54 | 0.500% |
| R1 | 5.53 | 0.286% |
| Price | 5.51 | |
| S1 | 5.49 | -0.407% |
| S2 | 5.48 | -0.621% |
| S3 | 5.46 | -0.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 5.55 | 0.726% |
| R1 | 5.52 | 0.181% |
| Price | 5.51 | |
| S1 | 5.50 | -0.181% |
| S2 | 5.47 | -0.726% |
| S3 | 5.40 | -2.00% |
601398 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 17, 2023 | Jul 17, 2023 | Jul 17, 2023 | $0.304 | 6.64% |
| 2 | Jul 12, 2022 | Jul 12, 2022 | Jul 12, 2022 | $0.293 | 6.50% |
| 3 | Jul 06, 2021 | Jul 06, 2021 | Jul 06, 2021 | $0.266 | 5.37% |
| 4 | Jun 30, 2020 | Jun 30, 2020 | Jun 30, 2020 | $0.263 | 5.28% |
| 5 | Jul 03, 2019 | Jul 03, 2019 | Jul 03, 2019 | $0.251 | 4.42% |
FAQ
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