CITIC Securities Company Limited Stock Forecast
CITIC Securities Company Limited stock price down 0.179% on Friday
(Updated on Apr 19, 2024)
The CITIC Securities Company Limited stock price fell by -0.179% on the last day (Friday, 19th Apr 2024) from HK$11.18 to HK$11.16. During the last trading day the stock fluctuated 1.99% from a day low at HK$11.06 to a day high of HK$11.28. The price has fallen in 7 of the last 10 days and is down by -10.58% for this period. 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 -8 million shares and in total, 11 million shares were bought and sold for approximately HK$126.29 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$10.73 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -23.52% during the next 3 months and, with a 90% probability hold a price between HK$8.21 and HK$10.11 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6030.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.01%. 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 CITIC Securities 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 HK$11.39 and HK$13.31. 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 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 CITIC Securities Company Limited stock
CITIC Securities Company Limited finds support from accumulated volume at HK$11.06 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.220 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 2.97%.
CITIC Securities Company Limited is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6030.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect CITIC Securities Company Limited to open at HK$11.17, and during the day (based on 14 day Average True Range), to move between HK$10.78 and HK$11.54, which gives a possible trading interval of +/-HK$0.382 (+/-3.42%) up or down from last closing price. If CITIC Securities Company Limited takes out the full calculated possible swing range there will be an estimated 6.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$11.18 (0.18%) than the support at HK$11.06 (0.90%), 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 CITIC Securities Company Limited stock A Buy?
CITIC Securities Company Limited holds several negative signals and is within a wide and 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: -2.768 Sell Candidate Unchanged
Predicted Opening Price for CITIC Securities Company Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$11.17 ( 0.0597%) | HK$11.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6030.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.39 | 2.03 % | |
| R2 | 11.30 | 1.28 % | ||
| R1 | 11.25 | 0.81 % | ||
| Current price: | 11.16 | |||
| Support | S1 | 11.08 | -0.693 % | |
| S2 | 11.03 | -1.16 % | ||
| S3 | 10.95 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.90 | 15.59 % | |
| R2 | 11.50 | 3.05 % | ||
| R1 | 11.18 | 0.179 % | ||
| Current price | 11.16 | |||
| Support | S1 | 11.06 | -0.90% | |
| S2 | 10.94 | -1.97% | ||
| S3 | 0 | . |
6030 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | HK$0.534 | 3.82% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | HK$0.633 | 3.61% |
| 3 | Jul 08, 2021 | Jul 08, 2021 | Jul 08, 2021 | HK$0.470 | 2.72% |
| 4 | Jul 05, 2021 | Jul 05, 2021 | Jul 05, 2021 | HK$0.400 | 2.16% |
| 5 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | HK$0.535 | 3.70% |
FAQ
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