China Southern Power Grid Technology Stock Forecast
China Southern Power Grid Technology stock upgraded to Buy Candidate.
(Updated on Jun 28, 2024)
The China Southern Power Grid Technology stock price gained 4.48% on the last trading day (Friday, 28th Jun 2024), rising from $28.36 to $29.63. During the last trading day the stock fluctuated 7.62% from a day low at $28.10 to a day high of $30.24. The price has fallen in 6 of the last 10 days and is down by -4.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 5 million shares were bought and sold for approximately $155.78 million.
The stock lies in the middle of a wide and 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 8.86% during the next 3 months and, with a 90% probability hold a price between $30.92 and $35.06 at the end of this 3-month period.
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688248.SS Signals & Forecast
The China Southern Power Grid Technology 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 $29.53 and $29.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 4.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Thursday, June 27, 2024 and based on theory for this formation the price should go up by 12.94% to $33.46 within 13 trading days since signal was issued (Tuesday, July 16, 2024).
Support, Risk & Stop-loss for China Southern Power Grid Technology stock
China Southern Power Grid Technology finds support from accumulated volume at $29.33 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 $2.14 between high and low, or 7.62%. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: $28.18 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (688248.SS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect China Southern Power Grid Technology Co.,Ltd to open at $29.32, and during the day (based on 14 day Average True Range), to move between $28.23 and $31.03, which gives a possible trading interval of +/-$1.40 (+/-4.72%) up or down from last closing price. If China Southern Power Grid Technology Co.,Ltd takes out the full calculated possible swing range there will be an estimated 9.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $29.33 (1.01%) than the resistance at $30.32 (2.33%), 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 Southern Power Grid Technology Co.,Ltd 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 Southern Power Grid Technology stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.558 Buy Candidate Upgraded
Predicted Opening Price for China Southern Power Grid Technology Co.,Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $29.32 ( 1.03%) | $29.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 688248.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.46 | 6.19% |
| R2 | 30.65 | 3.43% |
| R1 | 30.14 | 1.72% |
| Price | 29.63 | |
| S1 | 28.51 | -3.79% |
| S2 | 28.00 | -5.50% |
| S3 | 27.18 | -8.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.14 | 5.10% |
| R2 | 30.81 | 3.98% |
| R1 | 30.32 | 2.33% |
| Price | 29.63 | |
| S1 | 29.33 | -1.01% |
| S2 | 28.70 | -3.14% |
| S3 | 28.48 | -3.88% |
688248 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | $0.125 | 0.326% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | $0.0850 | 0.337% |
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