China Construction Bank Corporation Stock Forecast
China Construction Bank Corporation stock price ended at $7.22 on Friday, after losing 0.138%.
(Updated on Jun 21, 2024)
The China Construction Bank Corporation stock price fell by -0.138% on the last day (Friday, 21st Jun 2024) from $7.23 to $7.22. During the last trading day the stock fluctuated 0.695% from a day low at $7.19 to a day high of $7.24. The price has risen in 6 of the last 10 days and is up by 1.83% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 million shares and in total, 88 million shares were bought and sold for approximately $638.11 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 2.18% during the next 3 months and, with a 90% probability hold a price between $7.22 and $7.62 at the end of this 3-month period.
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601939.SS Signals & Forecast
The China Construction Bank Corporation 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 $7.16 and $7.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.70%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for China Construction Bank Corporation stock
China Construction Bank Corporation finds support from accumulated volume at $7.14 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 $0.0500 between high and low, or 0.695%. For the last week the stock has had daily average volatility of 1.21%.
Our recommended stop-loss: $6.89 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (601939.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect China Construction Bank Corporation to open at $7.22, and during the day (based on 14 day Average True Range), to move between $7.14 and $7.30, which gives a possible trading interval of +/-$0.0828 (+/-1.15%) up or down from last closing price. If China Construction Bank Corporation takes out the full calculated possible swing range there will be an estimated 2.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.24 (0.28%) than the support at $7.14 (1.11%), 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.
Earnings coming up
China Construction Bank Corporation will release earnings AMC on Friday, June 28, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.350. We will update the financials statements for China Construction Bank Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.58% in the first trading day after earnings release.
Is China Construction Bank Corporation 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 Construction Bank Corporation stock to perform well in the short-term.
Current score: 2.314 Buy Candidate Unchanged
Predicted Opening Price for China Construction Bank Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $7.22 ( 0.0462%) | $7.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601939.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.27 | 0.646% |
| R2 | 7.25 | 0.382% |
| R1 | 7.24 | 0.218% |
| Price | 7.22 | |
| S1 | 7.20 | -0.311% |
| S2 | 7.19 | -0.474% |
| S3 | 7.17 | -0.739% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.30 | 1.11% |
| R2 | 7.28 | 0.83% |
| R1 | 7.24 | 0.277% |
| Price | 7.22 | |
| S1 | 7.14 | -1.11% |
| S2 | 7.12 | -1.39% |
| S3 | 7.07 | -2.08% |
601939 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | $0.389 | 6.53% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | $0.364 | 6.37% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | $0.326 | 5.38% |
| 4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | $0.320 | 4.89% |
| 5 | Jul 10, 2019 | Jul 10, 2019 | Jul 10, 2019 | $0.306 | 4.38% |
FAQ
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