Forgame 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
Stronger technical forecast for Forgame Holdings Limited stock price after Friday trading.
(Updated on Jun 28, 2024)
The Forgame Holdings Limited stock price fell by -4.88% on the last day (Friday, 28th Jun 2024) from HK$0.82 to HK$0.780. During the last trading day the stock fluctuated 5.19% from a day low at HK$0.770 to a day high of HK$0.81. The price has been going up and down for this period, and there has been a -3.7% loss for the last 2 weeks. Volume has increased on the last day by 16 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, 16 thousand shares were bought and sold for approximately HK$12.48 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.767 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.67% during the next 3 months and, with a 90% probability hold a price between HK$0.80 and HK$0.92 at the end of this 3-month period.
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0484.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Forgame Holdings 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$0.82 and HK$0.81. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Forgame 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.
Support, Risk & Stop-loss for Forgame Holdings Limited stock
Forgame Holdings Limited finds support from accumulated volume at HK$0.770 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$0.0400 between high and low, or 5.19%. For the last week, the stock has had daily average volatility of 2.34%.
Our recommended stop-loss: HK$0.741 (-5.02%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (0484.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Forgame Holdings Limited to open at HK$0.787, and during the day (based on 14 day Average True Range), to move between HK$0.750 and HK$0.81, which gives a possible trading interval of +/-HK$0.0299 (+/-3.84%) up or down from last closing price. If Forgame Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.68% 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$0.790 (1.28%) than the support at HK$0.770 (1.28%), 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 Forgame Holdings Limited stock A Buy?
Forgame Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.000 Hold/Accumulate Upgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Forgame Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.787 ( 0.85%) | HK$0.780 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0484.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.83 | 5.98% |
| R2 | 0.81 | 4.02% |
| R1 | 0.80 | 2.81% |
| Price | 0.780 | |
| S1 | 0.771 | -1.10% |
| S2 | 0.762 | -2.31% |
| S3 | 0.747 | -4.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.85 | 8.97% |
| R2 | 0.80 | 2.56% |
| R1 | 0.790 | 1.28% |
| Price | 0.780 | |
| S1 | 0.770 | -1.28% |
| S2 | 0.740 | -5.13% |
| S3 | 0.730 | -6.41% |
FAQ
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