Galaxy Entertainment Group Limited 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
Green day on Friday for Galaxy Entertainment Group Limited
(Updated on May 17, 2024)
The Galaxy Entertainment Group Limited stock price gained 1.92% on the last trading day (Friday, 17th May 2024), rising from HK$39.15 to HK$39.90. During the last trading day the stock fluctuated 3.85% from a day low at HK$39.00 to a day high of HK$40.50. The price has risen in 6 of the last 10 days and is up by 10.22% over the past 2 weeks. Volume fell on the last day by -7 million shares and in total, 22 million shares were bought and sold for approximately HK$862.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -15.59% during the next 3 months and, with a 90% probability hold a price between HK$26.51 and HK$33.68 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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0027.HK Signals & Forecast
Mostly positive signals in the chart today. The Galaxy Entertainment Group Limited 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 HK$37.91 and HK$37.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 18.57%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Galaxy Entertainment Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$36.80 and HK$36.00. 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, Galaxy Entertainment Group Limited finds support just below today's level at HK$36.80. If this is broken, then the next support from accumulated volume will be at HK$36.00 and HK$34.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$1.50 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: HK$38.19 (-4.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (0027.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Galaxy Entertainment Group Limited to open at HK$39.80, and during the day (based on 14 day Average True Range), to move between HK$38.55 and HK$41.25, which gives a possible trading interval of +/-HK$1.35 (+/-3.39%) up or down from last closing price. If Galaxy Entertainment Group Limited takes out the full calculated possible swing range there will be an estimated 6.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$40.25 (0.88%) than the support at HK$36.80 (7.77%), 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
Galaxy Entertainment Group Limited will release earnings BMO on Monday, May 20, 2024. We will update the financials statements for Galaxy Entertainment Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.58% in the first trading day after earnings release.
Is Galaxy Entertainment Group Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 4.292 Buy Candidate Unchanged
Predicted Opening Price for Galaxy Entertainment Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$39.80 ( 0.251%) | HK$39.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0027.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.30 | 3.51 % | |
| R2 | 40.73 | 2.07 % | ||
| R1 | 40.37 | 1.19 % | ||
| Current price: | 39.90 | |||
| Support | S1 | 39.23 | -1.69 % | |
| S2 | 38.87 | -2.57 % | ||
| S3 | 38.30 | -4.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.90 | 2.51 % | |
| R2 | 40.60 | 1.75 % | ||
| R1 | 40.25 | 0.88 % | ||
| Current price | 39.90 | |||
| Support | S1 | 36.80 | -7.77% | |
| S2 | 36.00 | -9.77% | ||
| S3 | 34.20 | -14.29% |
0027 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Apr 26, 2024 | HK$0.300 | 0.84% |
| 2 | Mar 25, 2022 | Mar 25, 2022 | Mar 25, 2022 | HK$0.300 | 0.651% |
| 3 | Mar 25, 2020 | Mar 25, 2020 | Mar 25, 2020 | HK$0.450 | 1.00% |
| 4 | Sep 24, 2019 | Sep 24, 2019 | Sep 24, 2019 | HK$0.460 | 0.93% |
| 5 | Mar 25, 2019 | Mar 25, 2019 | Mar 25, 2019 | HK$0.450 | 0.87% |
FAQ
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