Agricultural Bank of China Stock Forecast
Evaluation of Agricultural Bank of China stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Agricultural Bank of China stock price fell by -0.0913% on the last day (Friday, 3rd May 2024) from $10.95 to $10.94. During the last trading day the stock fluctuated 0.637% from a day low at $10.87 to a day high of $10.94. The price has risen in 6 of the last 10 days but is still down by -1.8% for this period. Volume has increased on the last day by 3 thousand 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, 12 thousand shares were bought and sold for approximately $134.60 thousand.
The stock lies in the middle of a strong 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 12.87% during the next 3 months and, with a 90% probability hold a price between $12.08 and $12.90 at the end of this 3-month period.
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ACGBY Signals & Forecast
The Agricultural Bank of China stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $11.14. On a fall, the stock will find some support from the long-term average at approximately $10.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -3.36%. Further fall is indicated until a new bottom pivot has been found. Agricultural Bank of China gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Thursday, October 05, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, October 05, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Agricultural Bank of China stock
Agricultural Bank of China finds support from accumulated volume at $10.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0693 (0.637%) between high and low. For the last week, the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: $10.53 (-3.75%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (ACGBY) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Agricultural Bank of China to open at $10.92, and during the day (based on 14 day Average True Range), to move between $10.73 and $11.15, which gives a possible trading interval of +/-$0.206 (+/-1.88%) up or down from last closing price. If Agricultural Bank of China takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.14 (1.83%) than the support at $10.48 (4.20%), 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 Agricultural Bank of China stock A Buy?
Agricultural Bank of China holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.153 Hold/Accumulate Downgraded
Predicted Opening Price for Agricultural Bank of China of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$10.92 ( 0.211%) | $10.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACGBY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.99 | 0.422 % | |
R2 | 10.96 | 0.180 % | ||
R1 | 10.94 | 0.0308 % | ||
Current price: | 10.94 | |||
Support | S1 | 10.89 | -0.453 % | |
S2 | 10.87 | -0.603 % | ||
S3 | 10.85 | -0.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.25 | 2.83 % | |
R2 | 11.19 | 2.29 % | ||
R1 | 11.14 | 1.83 % | ||
Current price | 10.94 | |||
Support | S1 | 10.48 | -4.20% | |
S2 | 10.47 | -4.30% | ||
S3 | 10.45 | -4.48% |
ACGBY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 26, 2023 | Jul 07, 2023 | Aug 23, 2023 | $0.81 | 10.02% |
2 | Jun 30, 2022 | Jul 06, 2022 | Aug 23, 2023 | $0.81 | 10.09% |
3 | May 29, 2021 | Jun 08, 2021 | Jul 23, 2021 | $0.704 | 8.45% |
4 | Jun 12, 2020 | Jul 01, 2020 | Aug 17, 2020 | $0.643 | 7.15% |
5 | Apr 02, 2019 | Jun 10, 2019 | Jul 29, 2019 | $0.647 | 6.34% |
FAQ
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