China Communications Construction Co Ltd Stock Forecast
China Communications Construction Co Ltd stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The China Communications Construction Co Ltd stock price gained 0.341% on the last trading day (Tuesday, 25th Jun 2024), rising from $8.79 to $8.82. During the last trading day the stock fluctuated 1.71% from a day low at $8.76 to a day high of $8.91. The price has been going up and down for this period, and there has been a -0.45% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately $288.57 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $8.73 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Communications Construction Co Ltd stock with a 90% probability to be traded between $8.79 and $9.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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601800.SS Signals & Forecast
There are mixed signals in the stock today. The China Communications Construction Co Ltd 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 $8.82 and $8.98. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.15%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for China Communications Construction Co Ltd stock
China Communications Construction Co Ltd finds support from accumulated volume at $8.78 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 $0.150 between high and low, or 1.71%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: $8.32 (-5.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (601800.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect China Communications Construction Company Limited to open at $8.83, and during the day (based on 14 day Average True Range), to move between $8.64 and $9.00, which gives a possible trading interval of +/-$0.178 (+/-2.02%) up or down from last closing price. If China Communications Construction Company Limited takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.78 (0.45%) than the resistance at $8.87 (0.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Communications Construction Company Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for China Communications Construction Co Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.157 Buy Candidate Upgraded
Predicted Opening Price for China Communications Construction Company Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $8.83 ( 0.113%) | $8.82 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601800.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.98 | 1.81% |
| R2 | 8.92 | 1.16% |
| R1 | 8.89 | 0.763% |
| Price | 8.82 | |
| S1 | 8.77 | -0.536% |
| S2 | 8.74 | -0.94% |
| S3 | 8.68 | -1.59% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.45 | 7.14% |
| R2 | 9.21 | 4.42% |
| R1 | 8.87 | 0.567% |
| Price | 8.82 | |
| S1 | 8.78 | -0.454% |
| S2 | 8.62 | -2.27% |
| S3 | 8.28 | -6.12% |
601800 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 18, 2023 | Jul 18, 2023 | Jul 18, 2023 | $0.217 | 2.02% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | $0.204 | 2.20% |
| 3 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | $0.181 | 2.77% |
| 4 | Jun 23, 2020 | Jun 23, 2020 | Jun 23, 2020 | $0.233 | 3.10% |
| 5 | Jul 05, 2019 | Jul 05, 2019 | Jul 05, 2019 | $0.231 | 2.05% |
FAQ
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