Power Construction Corp of China, Ltd Stock Forecast
On Tuesday, Power Construction Corp of China, Ltd stock price gained an impressive 6.13%
(Updated on Jun 18, 2024)
The Power Construction Corp of China, Ltd stock price gained 6.13% on the last trading day (Tuesday, 18th Jun 2024), rising from $5.22 to $5.54. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 8.86% from a day low at $5.19 to a day high of $5.65. The price has fallen in 5 of the last 10 days but is still up by 4.33% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 200 million more shares were traded than the day before. In total, 365 million shares were bought and sold for approximately $2.02 billion.
The stock lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $5.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.77% during the next 3 months and, with a 90% probability hold a price between $5.56 and $5.98 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
601669.SS Signals & Forecast
The Power Construction Corp of China, Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.26 and $5.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 7.78%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, April 12, 2024 with a target of $5.16. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Power Construction Corp of China, Ltd stock
Power Construction Corp of China, Ltd finds support from accumulated volume at $5.34 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 $0.460 between high and low, or 8.86%. For the last week the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: $5.24 (-5.49%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (601669.SS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Power Construction Corporation of China, Ltd to open at $5.46, and during the day (based on 14 day Average True Range), to move between $5.40 and $5.68, which gives a possible trading interval of +/-$0.138 (+/-2.49%) up or down from last closing price. If Power Construction Corporation of China, Ltd takes out the full calculated possible swing range there will be an estimated 4.99% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $5.34, some $0.200 (3.61%) from the current price of $5.54, our system finds the risk reward attractive.
Is Power Construction Corporation 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 Power Construction Corp of China, Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.088 Buy Candidate Upgraded
Predicted Opening Price for Power Construction Corporation of China, Ltd of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| $5.46 ( 1.44%) | $5.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601669.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.92 | 6.86% |
| R2 | 5.74 | 3.69% |
| R1 | 5.64 | 1.73% |
| Price | 5.54 | |
| S1 | 5.28 | -4.62% |
| S2 | 5.18 | -6.58% |
| S3 | 5.00 | -9.75% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 5.54 | |
| S1 | 5.34 | -3.61% |
| S2 | 5.23 | -5.60% |
| S3 | 5.10 | -7.94% |
601669 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 11, 2023 | Jul 11, 2023 | Jul 11, 2023 | $0.120 | 2.10% |
| 2 | Jul 25, 2022 | Jul 25, 2022 | Jul 25, 2022 | $0.0996 | 1.35% |
| 3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | $0.0926 | 2.41% |
| 4 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | $0.0398 | 0.92% |
| 5 | Jul 24, 2019 | Jul 24, 2019 | Jul 24, 2019 | $0.0978 | 1.96% |
FAQ
Click here for our free guide on how to buy Power Construction Corporation of China, Ltd Stock.
