China Construction Bank Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
China Construction Bank Corporation stock upgraded to Strong Buy Candidate.
(Updated on Jun 26, 2024)
The China Construction Bank Corporation stock price gained 0.412% on the last trading day (Wednesday, 26th Jun 2024), rising from $7.28 to $7.31. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.10% from a day low at $7.25 to a day high of $7.33. The price has risen in 7 of the last 10 days and is up by 2.38% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 million more shares were traded than the day before. In total, 91 million shares were bought and sold for approximately $667.53 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Construction Bank Corporation stock with a 90% probability to be traded between $7.22 and $7.61 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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601939.SS Signals & Forecast
Mostly positive signals in the chart today. 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 $7.23 and $7.13. 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 3.98%. 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 is rising along with the price. This is considered to be a good technical signal.
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 $0.0800 between high and low, or 1.10%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: $7.04 (-3.67%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (601939.SS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Construction Bank Corporation to open at $7.30, and during the day (based on 14 day Average True Range), to move between $7.23 and $7.39, which gives a possible trading interval of +/-$0.0792 (+/-1.08%) 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 2.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.35 (0.55%) than the support at $7.14 (2.33%), 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 Construction Bank Corporation stock A Buy?
China Construction Bank Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the China Construction Bank Corporation stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.441 Strong Buy Candidate Upgraded
Predicted Opening Price for China Construction Bank Corporation of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $7.30 ( 0.182%) | $7.31 |
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 | 7.38 | 0.91% |
| R2 | 7.35 | 0.494% |
| R1 | 7.33 | 0.236% |
| Price | 7.31 | |
| S1 | 7.27 | -0.600% |
| S2 | 7.25 | -0.86% |
| S3 | 7.22 | -1.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 7.35 | 0.547% |
| Price | 7.31 | |
| S1 | 7.14 | -2.33% |
| S2 | 7.12 | -2.60% |
| S3 | 7.07 | -3.28% |
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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