China Everbright Bank Company Limited Stock Forecast

China Everbright Bank Company Limited stock price up 0.306% on Thursday
(Updated on Jul 04, 2024)

601818.SS Signals & Forecast

Mostly positive signals in the chart today. The China Everbright Bank Company Limited 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 $3.21 and $3.19. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 6.15%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, June 28, 2024 in the long-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.

Support, Risk & Stop-loss for China Everbright Bank Company Limited stock

China Everbright Bank Company Limited finds support from accumulated volume at $3.14 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 $0.0400 between high and low, or 1.23%. For the last week the stock has had daily average volatility of 1.63%.

Our recommended stop-loss: $3.16 (-3.73%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (601818.SS) For The Upcoming Trading Day Of Friday 5th

For the upcoming trading day on Friday, 5th we expect China Everbright Bank Company Limited to open at $3.28, and during the day (based on 14 day Average True Range), to move between $3.24 and $3.32, which gives a possible trading interval of +/-$0.0446 (+/-1.36%) up or down from last closing price. If China Everbright Bank Company Limited takes out the full calculated possible swing range there will be an estimated 2.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $3.29 (0.30%) than the support at $3.14 (4.27%), 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 Everbright Bank Company Limited 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 China Everbright Bank Company Limited stock to perform well in the short-term.

Current score: 4.076 Buy Candidate Unchanged

Predicted Opening Price for China Everbright Bank Company Limited of Friday, July 5, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.