Fountain Set (Holdings) 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
Red day on Thursday for Fountain Set (Holdings) Limited
(Updated on Jun 20, 2024)
The Fountain Set (Holdings) Limited stock price fell by -1.45% on the last day (Thursday, 20th Jun 2024) from HK$0.690 to HK$0.680. During the last trading day the stock fluctuated 2.94% from a day low at HK$0.680 to a day high of HK$0.700. The price has fallen in 5 of the last 10 days and is down by -6.85% for this period. Volume has increased on the last day by 22 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 130 thousand shares were bought and sold for approximately HK$88.40 thousand.
Given the current short-term trend, the stock is expected to rise 78.30% during the next 3 months and, with a 90% probability hold a price between HK$1.21 and HK$1.41 at the end of this 3-month period.
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0420.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -6.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Fountain Set (Holdings) Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The Fountain Set (Holdings) 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$0.680 and HK$0.661. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Fountain Set (Holdings) Limited stock
Fountain Set (Holdings) Limited finds support from accumulated volume at HK$0.670 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$0.0200 between high and low, or 2.94%. For the last week, the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: HK$0.659 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (0420.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Fountain Set (Holdings) Limited to open at HK$0.687, and during the day (based on 14 day Average True Range), to move between HK$0.663 and HK$0.697, which gives a possible trading interval of +/-HK$0.0175 (+/-2.57%) up or down from last closing price. If Fountain Set (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 5.14% 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$0.670 (1.47%) than the resistance at HK$0.700 (2.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Fountain Set (Holdings) Limited will release earnings BMO on Friday, June 28, 2024. We will update the financials statements for Fountain Set (Holdings) Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.03% in the first trading day after earnings release.
Is Fountain Set (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 Fountain Set (Holdings) Limited stock to perform well in the short-term.
Current score: 3.093 Buy Candidate Unchanged
Predicted Opening Price for Fountain Set (Holdings) Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.687 ( 0.98%) | HK$0.680 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0420.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.707 | 3.92% |
| R2 | 0.699 | 2.80% |
| R1 | 0.694 | 2.10% |
| Price | 0.680 | |
| S1 | 0.679 | -0.143% |
| S2 | 0.674 | -0.84% |
| S3 | 0.667 | -1.96% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.720 | 5.88% |
| R2 | 0.710 | 4.41% |
| R1 | 0.700 | 2.94% |
| Price | 0.680 | |
| S1 | 0.670 | -1.47% |
| S2 | 0.660 | -2.94% |
| S3 | 0.650 | -4.41% |
0420 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 16, 2024 | HK$0.0300 | 4.41% |
| 2 | May 13, 2022 | May 13, 2022 | May 13, 2022 | HK$0.160 | 13.68% |
| 3 | May 14, 2021 | May 14, 2021 | May 14, 2021 | HK$0.0700 | 6.03% |
| 4 | May 15, 2020 | May 15, 2020 | May 15, 2020 | HK$0.0116 | 1.09% |
| 5 | May 20, 2019 | May 20, 2019 | May 20, 2019 | HK$0.0133 | 1.12% |
FAQ
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