China Everbright Bank Company Limited Stock Forecast

Evaluation of China Everbright Bank Company Limited stock downgraded after the last trading session.
(Updated on Jun 26, 2024)

601818.SS Signals & Forecast

There are mixed signals in the stock today. The China Everbright Bank Company Limited 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 $3.18. On a fall, the stock will find some support from the short-term average at $3.11. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 1.29%. Further rise is indicated until a new top pivot has been found. 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.

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

China Everbright Bank Company Limited finds support from accumulated volume at $3.12 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 $0.0200 between high and low, or 0.641%. For the last week the stock has had daily average volatility of 1.04%.

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 Thursday 27th

For the upcoming trading day on Thursday, 27th we expect China Everbright Bank Company Limited to open at $3.13, and during the day (based on 14 day Average True Range), to move between $3.09 and $3.17, which gives a possible trading interval of +/-$0.0412 (+/-1.32%) 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 2.64% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.12 (0.32%) than the resistance at $3.14 (0.32%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.254 Sell Candidate Downgraded

Predicted Opening Price for China Everbright Bank Company Limited of Thursday, June 27, 2024

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