China State Construction Engineering Stock Forecast
Green day on Friday for China State Construction Engineering stock after gaining 0.366%
(Updated on Jun 21, 2024)
The China State Construction Engineering stock price gained 0.366% on the last trading day (Friday, 21st Jun 2024), rising from $5.46 to $5.48. During the last trading day the stock fluctuated 0.92% from a day low at $5.45 to a day high of $5.50. The price has risen in 6 of the last 10 days but is still down by -1.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 132 million shares were bought and sold for approximately $725.58 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.42 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 9.57% during the next 3 months and, with a 90% probability hold a price between $5.94 and $6.66 at the end of this 3-month period.
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601668.SS Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China State Construction Engineering stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.50 and $5.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -6.96%. 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).
Support, Risk & Stop-loss for China State Construction Engineering stock
China State Construction Engineering finds support from accumulated volume at $5.36 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 0.92%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601668.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China State Construction Engineering Corporation Limited to open at $5.48, and during the day (based on 14 day Average True Range), to move between $5.38 and $5.58, which gives a possible trading interval of +/-$0.102 (+/-1.86%) up or down from last closing price. If China State Construction Engineering Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.72% 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 (0.73%) than the support at $5.36 (2.19%), 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 State Construction Engineering Corporation Limited stock A Buy?
The China State Construction Engineering stock holds several negative signals and despite the positive trend, we believe China State Construction Engineering will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.824 Sell Candidate Unchanged
Predicted Opening Price for China State Construction Engineering Corporation Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $5.48 ( 0.0608%) | $5.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601668.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.53 | 0.85% |
| R2 | 5.51 | 0.503% |
| R1 | 5.50 | 0.288% |
| Price | 5.48 | |
| S1 | 5.46 | -0.409% |
| S2 | 5.45 | -0.625% |
| S3 | 5.43 | -0.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.86 | 6.93% |
| R2 | 5.66 | 3.28% |
| R1 | 5.52 | 0.730% |
| Price | 5.48 | |
| S1 | 5.36 | -2.19% |
| S2 | 5.35 | -2.37% |
| S3 | 5.23 | -4.56% |
601668 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | $0.253 | 4.40% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | $0.250 | 4.70% |
| 3 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | $0.215 | 4.62% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.185 | 3.82% |
| 5 | Jun 14, 2019 | Jun 14, 2019 | Jun 14, 2019 | $0.168 | 2.93% |
FAQ
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