BANK OF CHINA LTD AD Stock Forecast
BANK OF CHINA LTD AD stock downgraded to Buy Candidate
(Updated on Apr 26, 2024)
The BANK OF CHINA LTD AD stock price fell by -0.759% on the last day (Friday, 26th Apr 2024) from $11.06 to $10.98. During the last trading day the stock fluctuated 3.58% from a day low at $10.90 to a day high of $11.29. The price has risen in 9 of the last 10 days and is up by 6.98% over the past 2 weeks. 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 -75 thousand shares and in total, 8 thousand shares were bought and sold for approximately $93.19 thousand.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $11.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.49% during the next 3 months and, with a 90% probability hold a price between $12.12 and $12.80 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 $10.86 and $10.39. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 25, 2024, and so far it has fallen -0.759%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BANK OF CHINA LTD AD stock
On the downside, the stock finds support just below today's level from accumulated volume at $10.21 and $10.15. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, BANK OF CHINA LTD AD finds support just below today's level at $10.21. If this is broken, then the next support from accumulated volume will be at $10.15 and $9.38.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.390 between high and low, or 3.58%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: $10.56 (-3.79%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (BACHY) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect BANK OF CHINA LTD AD to open at $11.06, and during the day (based on 14 day Average True Range), to move between $10.76 and $11.19, which gives a possible trading interval of +/-$0.214 (+/-1.95%) 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 3.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.06 (0.77%) than the support at $10.21 (6.98%), 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 BANK OF CHINA LTD AD 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 BANK OF CHINA LTD AD stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.065 Buy Candidate Downgraded
Predicted Opening Price for BANK OF CHINA LTD AD of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $11.06 ( 0.723%) | $10.98 |
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 | 11.45 | 4.28 % | |
| R2 | 11.30 | 2.92 % | ||
| R1 | 11.20 | 2.08 % | ||
| Current price: | 10.98 | |||
| Support | S1 | 10.91 | -0.635 % | |
| S2 | 10.81 | -1.47 % | ||
| S3 | 10.67 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 11.06 | 0.765 % | ||
| Current price | 10.98 | |||
| Support | S1 | 10.21 | -6.98% | |
| S2 | 10.15 | -7.53% | ||
| S3 | 9.38 | -14.54% |
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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