DeTai New Energy 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
DeTai New Energy Group Limited stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 20, 2024)
No changes to the price of DeTai New Energy Group Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0110 to a day high of HK$0.0110. The price has been going up and down for this period, and there has been a -8.33% loss for the last 2 weeks.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect DeTai New Energy Group Limited stock with a 90% probability to be traded between HK$0.0102 and HK$0.0134 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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0559.HK Signals & Forecast
There are few to no technical positive signals at the moment. The DeTai New Energy 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$0.0113 and HK$0.0118. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen 0%. 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). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for DeTai New Energy Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0100. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.82%
Our recommended stop-loss: HK$0.0105 (-4.20%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (0559.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect DeTai New Energy Group Limited to open at HK$0.0110, and during the day (based on 14 day Average True Range), to move between HK$0.0101 and HK$0.0119, which gives a possible trading interval of +/-HK$0.0009 (+/-7.88%) up or down from last closing price. If DeTai New Energy Group Limited takes out the full calculated possible swing range there will be an estimated 15.76% 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$0.0100 (9.09%) than the resistance at HK$0.0120 (9.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DeTai New Energy Group Limited stock A Buy?
DeTai New Energy Group 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 DeTai New Energy Group Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0110 ( 0.00000000%) | HK$0.0110 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0559.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0110 | 0.00000000% |
| R2 | 0.0110 | 0.00000000% |
| R1 | 0.0110 | 0.00000000% |
| Price | 0.0110 | |
| S1 | 0.0110 | 0.00000000% |
| S2 | 0.0110 | 0.00000000% |
| S3 | 0.0110 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0.0130 | 18.18% |
| R1 | 0.0120 | 9.09% |
| Price | 0.0110 | |
| S1 | 0.0100 | -9.09% |
| S2 | 0 | - |
| S3 | 0 | - |
0559 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2007 | May 08, 2007 | May 08, 2007 | HK$0.0500 | 8.20% |
| 2 | Nov 21, 2006 | Nov 21, 2006 | Nov 21, 2006 | HK$0.125 | 20.16% |
| 3 | Jun 08, 2006 | Jun 08, 2006 | Jun 08, 2006 | HK$0.0500 | 10.87% |
FAQ
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