China Life Insurance Company Limited Stock Forecast
Red day on Friday for China Life Insurance Company Limited stock after losing 0.317%
(Updated on Jun 21, 2024)
The China Life Insurance Company Limited stock price fell by -0.317% on the last day (Friday, 21st Jun 2024) from $31.51 to $31.41. During the last trading day the stock fluctuated 1.54% from a day low at $31.20 to a day high of $31.68. The price has fallen in 7 of the last 10 days but is still up by 0.64% 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 -2 million shares and in total, 8 million shares were bought and sold for approximately $250.98 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 14.91% during the next 3 months and, with a 90% probability hold a price between $34.56 and $40.30 at the end of this 3-month period.
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601628.SS Signals & Forecast
There are mixed signals in the stock today. The China Life Insurance Company Limited 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 $31.65. On a fall, the stock will find some support from the short-term average at $31.25. 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 -5.68%. 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 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 Life Insurance Company Limited stock
China Life Insurance Company Limited finds support from accumulated volume at $30.81 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 $0.480 between high and low, or 1.54%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601628.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China Life Insurance Company Limited to open at $31.43, and during the day (based on 14 day Average True Range), to move between $30.70 and $32.12, which gives a possible trading interval of +/-$0.715 (+/-2.28%) up or down from last closing price. If China Life Insurance Company Limited takes out the full calculated possible swing range there will be an estimated 4.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $31.66 (0.80%) than the support at $30.81 (1.91%), 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.
Earnings coming up
China Life Insurance Company Limited will release earnings AMC on Thursday, June 27, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0561. We will update the financials statements for China Life Insurance Company Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.50% in the first trading day after earnings release.
Is China Life Insurance Company Limited stock A Buy?
China Life Insurance Company Limited 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.
Current score: -4.195 Sell Candidate Unchanged
Predicted Opening Price for China Life Insurance Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $31.43 ( 0.0637%) | $31.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601628.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.91 | 1.59% |
| R2 | 31.73 | 1.01% |
| R1 | 31.61 | 0.647% |
| Price | 31.41 | |
| S1 | 31.25 | -0.520% |
| S2 | 31.13 | -0.88% |
| S3 | 30.95 | -1.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.30 | 6.02% |
| R2 | 31.94 | 1.69% |
| R1 | 31.66 | 0.796% |
| Price | 31.41 | |
| S1 | 30.81 | -1.91% |
| S2 | 28.50 | -9.26% |
| S3 | 28.47 | -9.36% |
601628 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2023 | Jul 13, 2023 | Jul 13, 2023 | $0.490 | 1.45% |
| 2 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | $0.650 | 2.28% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | $0.640 | 2.05% |
| 4 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | $0.730 | 2.09% |
| 5 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | $0.160 | 0.597% |
FAQ
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