China Pacific Insurance (Group) Co., 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
China Pacific Insurance (Group) Co., stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Jul 04, 2024)
The China Pacific Insurance (Group) Co., stock price fell by -0.487% on the last day (Thursday, 4th Jul 2024) from $28.75 to $28.61. During the last trading day the stock fluctuated 2.59% from a day low at $28.54 to a day high of $29.28. The price has fallen in 6 of the last 10 days but is still up by 0.46% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -676 thousand shares and in total, 21 million shares were bought and sold for approximately $594.04 million.
The stock lies in the middle of a wide and 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 21.04% during the next 3 months and, with a 90% probability hold a price between $33.21 and $39.82 at the end of this 3-month period.
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601601.SS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Pacific Insurance (Group) Co., 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 $28.64. On a fall, the stock will find some support from the short-term average at $28.26. 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 -3.99%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Pacific Insurance (Group) Co., stock
China Pacific Insurance (Group) Co., finds support from accumulated volume at $27.74 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 $0.740 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601601.SS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect China Pacific Insurance (Group) Co., Ltd. to open at $28.81, and during the day (based on 14 day Average True Range), to move between $27.89 and $29.33, which gives a possible trading interval of +/-$0.721 (+/-2.52%) 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 5.04% 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 (0.07%) than the support at $27.74 (3.04%), 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?
China Pacific Insurance (Group) Co., 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.418 Sell Candidate Downgraded
Predicted Opening Price for China Pacific Insurance (Group) Co., Ltd. of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$28.81 ( 0.699%) | $28.61 |
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 | 29.55 | 3.29% |
R2 | 29.27 | 2.30% |
R1 | 29.09 | 1.69% |
Price | 28.61 | |
S1 | 28.53 | -0.289% |
S2 | 28.35 | -0.90% |
S3 | 28.07 | -1.89% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 29.80 | 4.16% |
R2 | 28.95 | 1.19% |
R1 | 28.63 | 0.0699% |
Price | 28.61 | |
S1 | 27.74 | -3.04% |
S2 | 24.27 | -15.17% |
S3 | 23.63 | -17.41% |
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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