Chu Kong Shipping Enterprises (Group) Co 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 Chu Kong Shipping Enterprises (Group) Co stock price after Friday trading.
(Updated on Jun 28, 2024)
The Chu Kong Shipping Enterprises (Group) Co stock price fell by -1.32% on the last day (Friday, 28th Jun 2024) from HK$0.760 to HK$0.750. During the last trading day the stock fluctuated 0% from a day low at HK$0.750 to a day high of HK$0.750. The price has been going up and down for this period, and there has been a -1.32% loss for the last 2 weeks. 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, 22 thousand shares were bought and sold for approximately HK$16.50 thousand.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.745 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.90% during the next 3 months and, with a 90% probability hold a price between HK$0.716 and HK$0.797 at the end of this 3-month period.
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0560.HK Signals & Forecast
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 Chu Kong Shipping Enterprises (Group) Co 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$0.761 and HK$0.790. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -10.71%. Further fall is indicated until a new bottom pivot has been found. Chu Kong Shipping Enterprises (Group) Co 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 Chu Kong Shipping Enterprises (Group) Co stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.80%.
Our recommended stop-loss: HK$0.710 (-5.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (0560.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Chu Kong Shipping Enterprises (Group) Company Limited to open at HK$0.750, and during the day (based on 14 day Average True Range), to move between HK$0.736 and HK$0.764, which gives a possible trading interval of +/-HK$0.0141 (+/-1.89%) up or down from last closing price. If Chu Kong Shipping Enterprises (Group) Company Limited takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.770, some HK$0.0200 (2.67%) from the current price of HK$0.750, our system finds the risk reward not very attractive.
Is Chu Kong Shipping Enterprises (Group) Company Limited stock A Buy?
Chu Kong Shipping Enterprises (Group) Co 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 Chu Kong Shipping Enterprises (Group) Company Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.750 ( 0%) | HK$0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0560.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.750 | - |
| R2 | 0.750 | - |
| R1 | 0.750 | - |
| Price | 0.750 | |
| S1 | 0.750 | - |
| S2 | 0.750 | - |
| S3 | 0.750 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.82 | 9.33% |
| R2 | 0.790 | 5.33% |
| R1 | 0.770 | 2.67% |
| Price | 0.750 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
0560 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 28, 2024 | HK$0.0500 | 6.67% |
| 2 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | HK$0.0200 | 2.02% |
| 3 | Jun 06, 2022 | Jun 06, 2022 | Jun 06, 2022 | HK$0.0200 | 2.06% |
| 4 | May 24, 2021 | May 24, 2021 | May 24, 2021 | HK$0.0200 | 1.87% |
| 5 | May 25, 2020 | May 25, 2020 | May 25, 2020 | HK$0.0300 | 3.70% |
FAQ
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