China Merchants Energy Shipping Co., Stock Forecast
Red day on Tuesday for China Merchants Energy Shipping Co., stock after losing 0.83%
(Updated on Jun 25, 2024)
The China Merchants Energy Shipping Co., stock price fell by -0.83% on the last day (Tuesday, 25th Jun 2024) from $8.47 to $8.40. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.16% from a day low at $8.35 to a day high of $8.53. The price has fallen in 6 of the last 10 days and is down by -3.23% for this period. Volume has increased on the last day by 4 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, 25 million shares were bought and sold for approximately $207.40 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $8.36 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.58% during the next 3 months and, with a 90% probability hold a price between $9.08 and $11.09 at the end of this 3-month period.
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601872.SS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Merchants Energy Shipping Co., 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 $8.44 and $8.97. A break-up above any of these levels will issue buy signals. 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 Merchants Energy Shipping Co., stock
China Merchants Energy Shipping Co., finds support from accumulated volume at $8.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.180 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601872.SS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect China Merchants Energy Shipping Co., Ltd. to open at $8.43, and during the day (based on 14 day Average True Range), to move between $8.05 and $8.75, which gives a possible trading interval of +/-$0.351 (+/-4.18%) up or down from last closing price. If China Merchants Energy Shipping Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.36 (0.48%) than the resistance at $8.68 (3.33%), 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 Merchants Energy Shipping Co., Ltd. stock A Buy?
The China Merchants Energy Shipping Co., stock holds several negative signals and despite the positive trend, we believe China Merchants Energy Shipping Co., will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.300 Sell Candidate Unchanged
Predicted Opening Price for China Merchants Energy Shipping Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $8.43 ( 0.317%) | $8.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601872.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.61 | 2.46% |
| R2 | 8.54 | 1.64% |
| R1 | 8.50 | 1.14% |
| Price | 8.40 | |
| S1 | 8.36 | -0.501% |
| S2 | 8.32 | -1.01% |
| S3 | 8.25 | -1.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.30 | 10.71% |
| R2 | 8.87 | 5.60% |
| R1 | 8.68 | 3.33% |
| Price | 8.40 | |
| S1 | 8.36 | -0.476% |
| S2 | 8.28 | -1.43% |
| S3 | 7.96 | -5.24% |
601872 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | $0.190 | 3.26% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | $0.110 | 1.94% |
| 3 | Jun 24, 2021 | Jun 24, 2021 | Jun 24, 2021 | $0.103 | 2.22% |
| 4 | Jun 24, 2020 | Jun 24, 2020 | Jun 24, 2020 | $0.0833 | 1.76% |
| 5 | Jul 17, 2019 | Jul 17, 2019 | Jul 17, 2019 | $0.0483 | 1.38% |
FAQ
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