Shenzhen Hongtao Group 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
Strong day for Shenzhen Hongtao Group Co Ltd stock price on Monday rising 5.38% to ¥0.98
(Updated on May 20, 2024)
The Shenzhen Hongtao Group Co Ltd stock price gained 5.38% on the last trading day (Monday, 20th May 2024), rising from ¥0.93 to ¥0.98. 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 5.38% from a day low at ¥0.93 to a day high of ¥0.98. The price has fallen in 7 of the last 10 days and is down by -17.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 129 million more shares were traded than the day before. In total, 135 million shares were bought and sold for approximately ¥131.97 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -37.77% during the next 3 months and, with a 90% probability hold a price between ¥0.502 and ¥0.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002325.SZ Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 15.29%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Hongtao Group Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥1.33. On a fall, the stock will find some support from the short-term average at ¥0.92. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Shenzhen Hongtao Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥0.89 and ¥0.88. 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, Shenzhen Hongtao Group Co Ltd finds support just below today's level at ¥0.89. If this is broken, then the next support from accumulated volume will be at ¥0.88 and ¥0.85.
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 ¥0.0500 between high and low, or 5.38%. For the last week, the stock has had daily average volatility of 12.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002325.SZ) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Shenzhen Hongtao Group Co Ltd to open at ¥0.96, and during the day (based on 14 day Average True Range), to move between ¥0.85 and ¥1.11, which gives a possible trading interval of +/-¥0.134 (+/-13.71%) up or down from last closing price. If Shenzhen Hongtao Group Co Ltd takes out the full calculated possible swing range there will be an estimated 27.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥1.02 (4.08%) than the support at ¥0.89 (9.18%), 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.
Earnings coming up
Shenzhen Hongtao Group Co Ltd will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Shenzhen Hongtao Group Co Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.73% in the first trading day after earnings release.
Is Shenzhen Hongtao Group Co Ltd stock A Buy?
Shenzhen Hongtao Group Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.820 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Hongtao Group Co Ltd of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ¥0.96 ( 1.70%) | ¥0.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002325.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.01 | 3.40 % | |
| R2 | 0.99 | 1.45 % | ||
| R1 | 0.98 | 0.248 % | ||
| Current price: | 0.98 | |||
| Support | S1 | 0.94 | -3.65 % | |
| S2 | 0.93 | -4.85 % | ||
| S3 | 0.91 | -6.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.22 | 24.49 % | |
| R2 | 1.21 | 23.47 % | ||
| R1 | 1.02 | 4.08 % | ||
| Current price | 0.98 | |||
| Support | S1 | 0.89 | -9.18% | |
| S2 | 0.88 | -10.20% | ||
| S3 | 0.85 | -13.27% |
002325 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2020 | Jul 21, 2020 | Jul 21, 2020 | ¥0.0200 | 0.599% |
| 2 | Jul 26, 2019 | Jul 26, 2019 | Jul 26, 2019 | ¥0.0100 | 0.331% |
| 3 | Jul 13, 2018 | Jul 13, 2018 | Jul 13, 2018 | ¥0.0200 | 0.561% |
| 4 | Jul 21, 2017 | Jul 21, 2017 | Jul 21, 2017 | ¥0.0200 | 0.315% |
| 5 | Jun 01, 2016 | Jun 01, 2016 | Jun 01, 2016 | ¥0.0317 | 0.384% |
FAQ
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