China Communications Construction Co Ltd Stock Forecast
China Communications Construction Co Ltd stock price up 2.29% on Friday
(Updated on Jun 28, 2024)
The China Communications Construction Co Ltd stock price gained 2.29% on the last trading day (Friday, 28th Jun 2024), rising from $8.74 to $8.94. During the last trading day the stock fluctuated 3.44% from a day low at $8.71 to a day high of $9.01. The price has fallen in 6 of the last 10 days but is still up by 1.82% 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, 27 million more shares were traded than the day before. In total, 54 million shares were bought and sold for approximately $480.15 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Communications Construction Co Ltd stock with a 90% probability to be traded between $8.53 and $9.20 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
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.52%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Communications Construction Co Ltd 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 $8.96. On a fall, the stock will find some support from the short-term average at $8.82. 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.
Support, Risk & Stop-loss for China Communications Construction Co Ltd stock
China Communications Construction Co Ltd finds support from accumulated volume at $8.89 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 $0.300 between high and low, or 3.44%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: $8.52 (-4.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (601800.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect China Communications Construction Company Limited to open at $8.89, and during the day (based on 14 day Average True Range), to move between $8.76 and $9.12, which gives a possible trading interval of +/-$0.184 (+/-2.06%) 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 4.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.89 (0.56%) than the resistance at $9.21 (3.02%), 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?
China Communications Construction Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.540 Hold/Accumulate Unchanged
Predicted Opening Price for China Communications Construction Company Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $8.89 ( 0.597%) | $8.94 |
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 | 9.19 | 2.76% |
| R2 | 9.07 | 1.48% |
| R1 | 9.00 | 0.685% |
| Price | 8.94 | |
| S1 | 8.77 | -1.88% |
| S2 | 8.70 | -2.67% |
| S3 | 8.59 | -3.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.45 | 5.70% |
| R2 | 9.38 | 4.92% |
| R1 | 9.21 | 3.02% |
| Price | 8.94 | |
| S1 | 8.89 | -0.559% |
| S2 | 8.87 | -0.783% |
| S3 | 8.62 | -3.58% |
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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