BANK OF CHINA LTD AD Stock Forecast
Green day on Friday for BANK OF CHINA LTD AD stock after gaining 0.376%
(Updated on Apr 19, 2024)
The BANK OF CHINA LTD AD stock price gained 0.376% on the last trading day (Friday, 19th Apr 2024), rising from $10.64 to $10.68. It has now gained 5 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 3.24% from a day low at $10.36 to a day high of $10.69. The price has risen in 8 of the last 10 days and is up by 3.69% 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, 107 thousand more shares were traded than the day before. In total, 157 thousand shares were bought and sold for approximately $1.68 million.
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 14.30% during the next 3 months and, with a 90% probability hold a price between $11.85 and $12.46 at the end of this 3-month period.
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BACHY Signals & Forecast
The BANK OF CHINA LTD AD 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 $10.42 and $10.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 5.74%. 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).
Support, Risk & Stop-loss for BANK OF CHINA LTD AD stock
BANK OF CHINA LTD AD finds support from accumulated volume at $10.21 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 $0.335 between high and low, or 3.24%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: $10.13 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (BACHY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect BANK OF CHINA LTD AD to open at $10.58, and during the day (based on 14 day Average True Range), to move between $10.49 and $10.87, which gives a possible trading interval of +/-$0.191 (+/-1.79%) up or down from last closing price. If BANK OF CHINA LTD AD takes out the full calculated possible swing range there will be an estimated 3.58% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.21, some $0.470 (4.40%) from the current price of $10.68, our system finds the risk reward attractive.
Is BANK OF CHINA LTD AD stock A Buy?
BANK OF CHINA LTD AD holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.399 Strong Buy Candidate Unchanged
Predicted Opening Price for BANK OF CHINA LTD AD of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $10.58 ( 0.98%) | $10.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BACHY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.91 | 2.15 % | |
| R2 | 10.78 | 0.96 % | ||
| R1 | 10.70 | 0.215 % | ||
| Current price: | 10.68 | |||
| Support | S1 | 10.45 | -2.18 % | |
| S2 | 10.37 | -2.92 % | ||
| S3 | 10.24 | -4.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.68 | |||
| Support | S1 | 10.21 | -4.40% | |
| S2 | 10.15 | -4.96% | ||
| S3 | 9.38 | -12.17% |
BACHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2023 | Jul 05, 2023 | Aug 21, 2023 | $0.84 | 10.22% |
| 2 | Jun 30, 2022 | Jul 06, 2022 | Aug 25, 2022 | $0.87 | 9.89% |
| 3 | Mar 30, 2021 | May 26, 2021 | Jul 15, 2021 | $0.749 | 8.43% |
| 4 | Jun 15, 2020 | Jul 06, 2020 | Aug 24, 2020 | $0.675 | 8.12% |
| 5 | May 22, 2019 | May 22, 2019 | Jul 03, 2019 | $0.684 | 6.50% |
FAQ
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