China Energy Development Holdings 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
China Energy Development Holdings Ltd stock price ended at HK$0.109 on Friday, after losing 3.54%.
(Updated on May 10, 2024)
The China Energy Development Holdings Ltd stock price fell by -3.54% on the last day (Friday, 10th May 2024) from HK$0.113 to HK$0.109. During the last trading day the stock fluctuated 7.41% from a day low at HK$0.108 to a day high of HK$0.116. The price has been going up and down for this period, and there has been a 34.57% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -3 million shares and in total, 2 million shares were bought and sold for approximately HK$211.24 thousand.
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 21.73% during the next 3 months and, with a 90% probability hold a price between HK$0.0981 and HK$0.150 at the end of this 3-month period.
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0228.HK Signals & Forecast
The China Energy Development Holdings Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$0.113. On a fall, the stock will find some support from the long-term average at approximately HK$0.0896. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -9.92%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for China Energy Development Holdings Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0880 and HK$0.0860. 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, China Energy Development Holdings Ltd finds support just below today's level at HK$0.0880. If this is broken, then the next support from accumulated volume will be at HK$0.0860 and HK$0.0830.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0080 between high and low, or 7.41%. For the last week the stock has had daily average volatility of 8.69%.
Our recommended stop-loss: HK$0.103 (-5.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (0228.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect China Energy Development Holdings Limited to open at HK$0.111, and during the day (based on 14 day Average True Range), to move between HK$0.0987 and HK$0.119, which gives a possible trading interval of +/-HK$0.0103 (+/-9.42%) up or down from last closing price. If China Energy Development Holdings Limited takes out the full calculated possible swing range there will be an estimated 18.84% 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$0.110 (0.92%) than the support at HK$0.0880 (19.27%), 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.
Is China Energy Development Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Energy Development Holdings Ltd stock to perform well in the short-term.
Current score: 3.208 Buy Candidate Unchanged
Predicted Opening Price for China Energy Development Holdings Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$0.111 ( 1.83%) | HK$0.109 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0228.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.119 | 9.17 % | |
| R2 | 0.116 | 6.37 % | ||
| R1 | 0.114 | 4.64 % | ||
| Current price: | 0.109 | |||
| Support | S1 | 0.108 | -0.97 % | |
| S2 | 0.106 | -2.70 % | ||
| S3 | 0.103 | -5.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.121 | 11.01 % | |
| R2 | 0.117 | 7.34 % | ||
| R1 | 0.110 | 0.92 % | ||
| Current price | 0.109 | |||
| Support | S1 | 0.0880 | -19.27% | |
| S2 | 0.0860 | -21.10% | ||
| S3 | 0.0830 | -23.85% |
FAQ
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