Beijing-Shanghai High-Speed Railway Stock Forecast
Weaker technical forecast for Beijing-Shanghai High-Speed Railway as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)
The Beijing-Shanghai High-Speed Railway stock price fell by -0.192% on the last day (Friday, 21st Jun 2024) from $5.21 to $5.20. During the last trading day the stock fluctuated 0.97% from a day low at $5.17 to a day high of $5.22. The price has risen in 6 of the last 10 days and is up by 0.78% over the past 2 weeks. Volume has increased on the last day by 30 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 94 million shares were bought and sold for approximately $489.67 million.
The stock lies in the middle of a weak 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 2.83% during the next 3 months and, with a 90% probability hold a price between $5.20 and $5.49 at the end of this 3-month period.
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601816.SS Signals & Forecast
The Beijing-Shanghai High-Speed Railway stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.18 and $5.17. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -0.763%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, June 18, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, June 18, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -1.67% to $5.11 within 24 trading days since signal was issued (Friday, July 12, 2024).
Support, Risk & Stop-loss for Beijing-Shanghai High-Speed Railway stock
Beijing-Shanghai High-Speed Railway finds support from accumulated volume at $5.16 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 0.97%. For the last week the stock has had daily average volatility of 1.20%.
Our recommended stop-loss: $5.05 (-2.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (601816.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Beijing-Shanghai High-Speed Railway Co.,Ltd. to open at $5.20, and during the day (based on 14 day Average True Range), to move between $5.13 and $5.27, which gives a possible trading interval of +/-$0.0721 (+/-1.39%) up or down from last closing price. If Beijing-Shanghai High-Speed Railway Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.22 (0.38%) than the support at $5.16 (0.77%), 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 Beijing-Shanghai High-Speed Railway Co.,Ltd. stock A Buy?
Beijing-Shanghai High-Speed Railway 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.632 Hold/Accumulate Downgraded
Predicted Opening Price for Beijing-Shanghai High-Speed Railway Co.,Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $5.20 ( 0.0641%) | $5.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601816.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.25 | 0.90% |
| R2 | 5.23 | 0.530% |
| R1 | 5.22 | 0.303% |
| Price | 5.20 | |
| S1 | 5.18 | -0.431% |
| S2 | 5.17 | -0.658% |
| S3 | 5.15 | -1.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.26 | 1.15% |
| R2 | 5.24 | 0.769% |
| R1 | 5.22 | 0.385% |
| Price | 5.20 | |
| S1 | 5.16 | -0.769% |
| S2 | 5.13 | -1.35% |
| S3 | 5.09 | -2.12% |
601816 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | $0.0114 | 0.203% |
| 2 | Jul 29, 2022 | Jul 29, 2022 | Jul 29, 2022 | $0.0491 | 1.06% |
| 3 | Jul 30, 2021 | Jul 30, 2021 | Jul 30, 2021 | $0.0329 | 0.684% |
| 4 | Aug 19, 2020 | Aug 19, 2020 | Aug 19, 2020 | $0.0528 | 0.84% |
FAQ
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