China Investment Development 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
High volatility in China Investment Development Limited stock price on Tuesday which ended trading at HK$0.600
(Updated on Apr 30, 2024)
The China Investment Development Limited stock price gained 3.45% on the last trading day (Tuesday, 30th Apr 2024), rising from HK$0.580 to HK$0.600. During the last trading day the stock fluctuated 15.25% from a day low at HK$0.590 to a day high of HK$0.680. The price has been going up and down for this period, and there has been a 3.45% gain for the last 2 weeks. Volume fell on the last day by -374 thousand shares and in total, 406 thousand shares were bought and sold for approximately HK$243.60 thousand. 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.
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 -29.53% during the next 3 months and, with a 90% probability hold a price between HK$0.340 and HK$0.452 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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0204.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 17.65%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Investment Development Limited 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 HK$0.643. On a fall, the stock will find some support from the short-term average at HK$0.574. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for China Investment Development Limited stock
China Investment Development Limited finds support from accumulated volume at HK$0.580 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0900 between high and low, or 15.25%. For the last week the stock has had daily average volatility of 13.27%.
Our recommended stop-loss: HK$0.579 (-3.54%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (0204.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect China Investment Development Limited to open at HK$0.623, and during the day (based on 14 day Average True Range), to move between HK$0.547 and HK$0.653, which gives a possible trading interval of +/-HK$0.0534 (+/-8.90%) up or down from last closing price. If China Investment Development Limited takes out the full calculated possible swing range there will be an estimated 17.80% 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$0.580 (3.33%) than the resistance at HK$0.670 (11.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Investment Development Limited stock A Buy?
China Investment Development Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.170 Hold/Accumulate Upgraded
Predicted Opening Price for China Investment Development Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$0.623 ( 3.89%) | HK$0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0204.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.713 | 18.89 % | |
| R2 | 0.679 | 13.16 % | ||
| R1 | 0.658 | 9.62 % | ||
| Current price: | 0.600 | |||
| Support | S1 | 0.589 | -1.84 % | |
| S2 | 0.568 | -5.38 % | ||
| S3 | 0.533 | -11.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.730 | 21.67 % | |
| R2 | 0.720 | 20.00 % | ||
| R1 | 0.670 | 11.67 % | ||
| Current price | 0.600 | |||
| Support | S1 | 0.580 | -3.33% | |
| S2 | 0.540 | -10.00% | ||
| S3 | 0.510 | -15.00% |
FAQ
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