ITC Properties 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 ITC Properties Group Limited stock after gaining 3.57%
(Updated on Jun 14, 2024)
The ITC Properties Group Limited stock price gained 3.57% on the last trading day (Friday, 14th Jun 2024), rising from HK$0.420 to HK$0.435. During the last trading day the stock fluctuated 8.75% from a day low at HK$0.400 to a day high of HK$0.435. The price has been going up and down for this period, and there has been a -7.45% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 140 thousand more shares were traded than the day before. In total, 220 thousand shares were bought and sold for approximately HK$95.59 thousand.
The stock lies in the middle of a 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 -22.29% during the next 3 months and, with a 90% probability hold a price between HK$0.323 and HK$0.380 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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0199.HK Signals & Forecast
There are mixed signals in the stock today. The ITC Properties Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.435 and HK$0.482. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 3.57%. 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). ITC Properties Group Limited 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ITC Properties Group Limited stock
ITC Properties Group Limited finds support from accumulated volume at HK$0.430 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0350 between high and low, or 8.75%. For the last week, the stock has had daily average volatility of 4.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0199.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect ITC Properties Group Limited to open at HK$0.423, and during the day (based on 14 day Average True Range), to move between HK$0.410 and HK$0.460, which gives a possible trading interval of +/-HK$0.0252 (+/-5.80%) up or down from last closing price. If ITC Properties Group Limited takes out the full calculated possible swing range there will be an estimated 11.59% 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$0.430 (1.15%) than the resistance at HK$0.470 (8.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ITC Properties Group Limited stock A Buy?
ITC Properties Group Limited 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: -1.260 Sell Candidate Unchanged
Predicted Opening Price for ITC Properties Group Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$0.423 ( 2.68%) | HK$0.435 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0199.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.458 | 5.36% |
| R2 | 0.445 | 2.29% |
| R1 | 0.437 | 0.392% |
| Price | 0.435 | |
| S1 | 0.410 | -5.76% |
| S2 | 0.402 | -7.65% |
| S3 | 0.388 | -10.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.520 | 19.54% |
| R2 | 0.480 | 10.34% |
| R1 | 0.470 | 8.05% |
| Price | 0.435 | |
| S1 | 0.430 | -1.15% |
| S2 | 0.420 | -3.45% |
| S3 | 0 | - |
0199 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2022 | Jul 14, 2022 | Jul 14, 2022 | HK$0.0500 | 4.85% |
| 2 | Dec 13, 2021 | Dec 13, 2021 | Dec 13, 2021 | HK$0.100 | 8.47% |
| 3 | Jul 16, 2020 | Jul 16, 2020 | Jul 16, 2020 | HK$0.0500 | 5.38% |
| 4 | Dec 12, 2019 | Dec 12, 2019 | Dec 12, 2019 | HK$0.0300 | 2.61% |
| 5 | Jul 16, 2019 | Jul 16, 2019 | Jul 16, 2019 | HK$0.120 | 7.14% |
FAQ
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