China Pacific Insurance (Group) Co., Stock Forecast
Red day on Friday for China Pacific Insurance (Group) Co., stock after losing 0.0351%
(Updated on Jun 21, 2024)
The China Pacific Insurance (Group) Co., stock price fell by -0.0351% on the last day (Friday, 21st Jun 2024) from $28.48 to $28.47. During the last trading day the stock fluctuated 1.48% from a day low at $28.39 to a day high of $28.81. The price has fallen in 6 of the last 10 days but is still up by 0.42% over the past 2 weeks. Volume has increased on the last day by 717 thousand 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, 19 million shares were bought and sold for approximately $533.61 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $28.13 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 30.79% during the next 3 months and, with a 90% probability hold a price between $36.80 and $42.91 at the end of this 3-month period.
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601601.SS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -4.46%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The China Pacific Insurance (Group) Co., 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 $28.45 and $28.33. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for China Pacific Insurance (Group) Co., stock
On the downside, the stock finds support just below today's level from accumulated volume at $26.55 and $24.27. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Pacific Insurance (Group) Co., finds support just below today's level at $26.55. If this is broken, then the next support from accumulated volume will be at $24.27 and $23.63.
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 $0.420 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: $27.01 (-5.14%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (601601.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China Pacific Insurance (Group) Co., Ltd. to open at $28.56, and during the day (based on 14 day Average True Range), to move between $27.80 and $29.14, which gives a possible trading interval of +/-$0.665 (+/-2.34%) up or down from last closing price. If China Pacific Insurance (Group) Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $28.63 (0.56%) than the support at $26.55 (6.74%), 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 China Pacific Insurance (Group) 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 China Pacific Insurance (Group) Co., stock to perform well in the short-term.
Current score: 1.314 Buy Candidate Unchanged
Predicted Opening Price for China Pacific Insurance (Group) Co., Ltd. of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$28.56 ( 0.304%) | $28.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601601.SS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 28.98 | 1.78% |
R2 | 28.82 | 1.22% |
R1 | 28.72 | 0.87% |
Price | 28.47 | |
S1 | 28.40 | -0.259% |
S2 | 28.30 | -0.607% |
S3 | 28.14 | -1.17% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 29.80 | 4.67% |
R2 | 28.95 | 1.69% |
R1 | 28.63 | 0.562% |
Price | 28.47 | |
S1 | 26.55 | -6.74% |
S2 | 24.27 | -14.75% |
S3 | 23.63 | -17.00% |
601601 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | $1.02 | 3.89% |
2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | $1.00 | 4.61% |
3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | $0.100 | 0.345% |
4 | Jun 11, 2020 | Jun 11, 2020 | Jun 11, 2020 | $1.20 | 4.30% |
5 | Jul 23, 2019 | Jul 23, 2019 | Jul 23, 2019 | $1.00 | 2.69% |
FAQ
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