Hangzhou Binjiang Real Estate Grp Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Big movements in Hangzhou Binjiang Real Estate Grp Co Ltd stock price on Friday moving 41.75% between high and low
(Updated on May 17, 2024)
The Hangzhou Binjiang Real Estate Grp Co Ltd stock price gained 9.96% on the last trading day (Friday, 17th May 2024), rising from ¥9.14 to ¥10.05. It has now gained 3 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 41.75% from a day low at ¥7.09 to a day high of ¥10.05. The price has risen in 7 of the last 10 days and is up by 49.78% 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, 127 million more shares were traded than the day before. In total, 252 million shares were bought and sold for approximately ¥2.53 billion.
Given the current horizontal trend, you can expect Hangzhou Binjiang Real Estate Grp Co Ltd stock with a 90% probability to be traded between ¥5.81 and ¥10.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002244.SZ Signals & Forecast
Mostly positive signals in the chart today. The Hangzhou Binjiang Real Estate Grp Co Ltd 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 ¥8.29 and ¥6.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 73.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Hangzhou Binjiang Real Estate Grp Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥8.31 and ¥7.97. 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, Hangzhou Binjiang Real Estate Grp Co Ltd finds support just below today's level at ¥8.31. If this is broken, then the next support from accumulated volume will be at ¥7.97 and ¥7.69.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ¥2.96 between high and low, or 41.75%. For the last week, the stock has had daily average volatility of 24.96%.
The Hangzhou Binjiang Real Estate Grp Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ¥9.73 (-3.18%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (002244.SZ) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hangzhou Binjiang Real Estate Grp Co Ltd to open at ¥9.06, and during the day (based on 14 day Average True Range), to move between ¥9.15 and ¥10.95, which gives a possible trading interval of +/-¥0.90 (+/-8.96%) up or down from last closing price. If Hangzhou Binjiang Real Estate Grp Co Ltd takes out the full calculated possible swing range there will be an estimated 17.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ¥8.31, some ¥1.74 (17.31%) from the current price of ¥10.05, our system finds the risk reward attractive.
Is Hangzhou Binjiang Real Estate Grp Co Ltd stock A Buy?
Hangzhou Binjiang Real Estate Grp Co Ltd holds several positive signals and is considered to be a good choice at current levels. We expect the Hangzhou Binjiang Real Estate Grp Co Ltd stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.563 Strong Buy Candidate Upgraded
Predicted Opening Price for Hangzhou Binjiang Real Estate Grp Co Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ¥9.06 ( 9.82%) | ¥10.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002244.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.02 | 19.64 % | |
| R2 | 10.89 | 8.38 % | ||
| R1 | 10.19 | 1.43 % | ||
| Current price: | 10.05 | |||
| Support | S1 | 7.93 | -21.07 % | |
| S2 | 7.23 | -28.02 % | ||
| S3 | 6.10 | -39.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.05 | |||
| Support | S1 | 8.31 | -17.31% | |
| S2 | 7.97 | -20.70% | ||
| S3 | 7.69 | -23.48% |
002244 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ¥0.250 | 2.37% |
| 2 | Jul 11, 2022 | Jul 11, 2022 | Jul 11, 2022 | ¥0.226 | 2.66% |
| 3 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | ¥0.226 | 5.08% |
| 4 | Jun 05, 2020 | Jun 05, 2020 | Jun 05, 2020 | ¥0.132 | 3.15% |
| 5 | May 17, 2019 | May 17, 2019 | May 17, 2019 | ¥0.0600 | 1.44% |
FAQ
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