China Everbright Bank Company Limited Stock Forecast
China Everbright Bank Company Limited stock price down 0.323% on Friday
(Updated on Jun 21, 2024)
The China Everbright Bank Company Limited stock price fell by -0.323% on the last day (Friday, 21st Jun 2024) from $3.10 to $3.09. During the last trading day the stock fluctuated 0.97% from a day low at $3.08 to a day high of $3.11. The price has fallen in 6 of the last 10 days and is down by -2.83% for this period. Volume has increased on the last day by 48 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, 121 million shares were bought and sold for approximately $373.61 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 $3.04 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect China Everbright Bank Company Limited stock with a 90% probability to be traded between $3.07 and $3.33 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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601818.SS Signals & Forecast
There are few to no technical positive signals at the moment. The China Everbright Bank Company Limited 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 $3.11 and $3.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -6.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Everbright Bank Company Limited stock
China Everbright Bank Company Limited finds support from accumulated volume at $3.08 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 $0.0300 between high and low, or 0.97%. For the last week the stock has had daily average volatility of 1.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601818.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China Everbright Bank Company Limited to open at $3.09, and during the day (based on 14 day Average True Range), to move between $3.05 and $3.13, which gives a possible trading interval of +/-$0.0432 (+/-1.40%) 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 2.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.08 (0.32%) than the resistance at $3.11 (0.65%), 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 Everbright Bank Company Limited stock A Buy?
China Everbright Bank Company Limited holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.809 Sell Candidate Unchanged
Predicted Opening Price for China Everbright Bank Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $3.09 ( 0.108%) | $3.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601818.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.12 | 1.08% |
| R2 | 3.11 | 0.708% |
| R1 | 3.10 | 0.479% |
| Price | 3.09 | |
| S1 | 3.08 | -0.263% |
| S2 | 3.07 | -0.492% |
| S3 | 3.06 | -0.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.14 | 1.62% |
| R2 | 3.12 | 0.97% |
| R1 | 3.11 | 0.647% |
| Price | 3.09 | |
| S1 | 3.08 | -0.324% |
| S2 | 3.07 | -0.647% |
| S3 | 3.06 | -0.97% |
601818 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2023 | Jul 19, 2023 | Jul 19, 2023 | $0.190 | 6.46% |
| 2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | $0.201 | 6.66% |
| 3 | Jul 21, 2021 | Jul 21, 2021 | Jul 21, 2021 | $0.210 | 6.12% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.214 | 5.96% |
| 5 | Jun 26, 2019 | Jun 26, 2019 | Jun 26, 2019 | $0.161 | 4.20% |
FAQ
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