New Times Energy Corporation 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
Stronger technical forecast for New Times Energy Corporation Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)
No changes to the price of New Times Energy Corporation Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 7.89% from a day low at HK$0.0760 to a day high of HK$0.0820. The price has fallen in 5 of the last 10 days but is still up by 1.25% over the past 2 weeks.
The stock lies in the middle of a very wide and strong 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 35.84% during the next 3 months and, with a 90% probability hold a price between HK$0.104 and HK$0.135 at the end of this 3-month period.
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0166.HK Signals & Forecast
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. The New Times Energy Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.0843 and HK$0.0831. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -16.49%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for New Times Energy Corporation Limited stock
New Times Energy Corporation Limited finds support from accumulated volume at HK$0.0800 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0060 between high and low, or 7.89%. For the last week the stock has had daily average volatility of 7.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0166.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect New Times Energy Corporation Limited to open at HK$0.0797, and during the day (based on 14 day Average True Range), to move between HK$0.0718 and HK$0.0902, which gives a possible trading interval of +/-HK$0.0092 (+/-11.41%) up or down from last closing price. If New Times Energy Corporation Limited takes out the full calculated possible swing range there will be an estimated 22.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.0800 (1.23%) than the resistance at HK$0.0840 (3.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is New Times Energy Corporation Limited stock A Buy?
The New Times Energy Corporation Limited stock holds several negative signals and despite the positive trend, we believe New Times Energy Corporation Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.507 Sell Candidate Upgraded
Predicted Opening Price for New Times Energy Corporation Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0797 ( 1.65%) | HK$0.0810 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0166.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0857 | 5.76% |
| R2 | 0.0834 | 2.93% |
| R1 | 0.0820 | 1.18% |
| Price | 0.0810 | |
| S1 | 0.0774 | -4.48% |
| S2 | 0.0760 | -6.22% |
| S3 | 0.0737 | -9.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0970 | 19.75% |
| R2 | 0.0870 | 7.41% |
| R1 | 0.0840 | 3.70% |
| Price | 0.0810 | |
| S1 | 0.0800 | -1.23% |
| S2 | 0.0700 | -13.58% |
| S3 | 0.0630 | -22.22% |
FAQ
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