China Fund Inc (The) Stock Forecast
China Fund Inc (The) stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)
The China Fund Inc (The) stock price gained 1.21% on the last trading day (Tuesday, 23rd Apr 2024), rising from $9.90 to $10.02. During the last trading day the stock fluctuated 0.400% from a day low at $10.01 to a day high of $10.05. The price has risen in 6 of the last 10 days but is still down by -1.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $143.30 thousand.
The stock lies in the middle of a 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 6.72% during the next 3 months and, with a 90% probability hold a price between $10.30 and $11.30 at the end of this 3-month period.
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CHN Signals & Forecast
The China Fund Inc (The) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.79 and $9.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.73%. Further rise is indicated until a new top pivot has been found. China Fund Inc (The) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 China Fund Inc (The) stock
China Fund Inc (The) finds support from accumulated volume at $9.71 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 $0.0400 between high and low, or 0.400%. For the last week the stock has had daily average volatility of 1.04%.
Our recommended stop-loss: $9.52 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (CHN) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect China Fund Inc (The) to open at $10.03, and during the day (based on 14 day Average True Range), to move between $9.88 and $10.16, which gives a possible trading interval of +/-$0.144 (+/-1.44%) up or down from last closing price. If China Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.04 (0.20%) than the support at $9.71 (3.09%), 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 China Fund Inc (The) 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 Fund Inc (The) 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: 1.862 Buy Candidate Upgraded
Predicted Opening Price for China Fund Inc (The) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $10.03 ( 0.0665%) | $10.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.07 | 0.466 % | |
| R2 | 10.05 | 0.313 % | ||
| R1 | 10.04 | 0.219 % | ||
| Current price: | 10.02 | |||
| Support | S1 | 10.01 | -0.0860 % | |
| S2 | 10.00 | -0.180 % | ||
| S3 | 9.99 | -0.333 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.23 | 2.10 % | |
| R2 | 10.06 | 0.399 % | ||
| R1 | 10.04 | 0.200 % | ||
| Current price | 10.02 | |||
| Support | S1 | 9.71 | -3.09% | |
| S2 | 9.66 | -3.59% | ||
| S3 | 9.24 | -7.78% |
CHN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Jan 10, 2024 | $0.0185 | 0.190% |
| 2 | Dec 16, 2022 | Dec 27, 2022 | Jan 10, 2023 | $0.675 | 4.55% |
| 3 | Dec 21, 2021 | Dec 27, 2021 | Jan 10, 2022 | $7.27 | 39.67% |
| 4 | Dec 21, 2020 | Dec 28, 2020 | Jan 08, 2021 | $2.31 | 7.76% |
| 5 | Dec 17, 2019 | Dec 27, 2019 | Jan 10, 2020 | $1.38 | 6.27% |
FAQ
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