China Conch Venture 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
China Conch Venture Holdings Limited stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The China Conch Venture Holdings Limited stock price gained 2.20% on the last trading day (Tuesday, 2nd Jul 2024), rising from HK$7.28 to HK$7.44. During the last trading day the stock fluctuated 6.32% from a day low at HK$7.28 to a day high of HK$7.74. The price has fallen in 6 of the last 10 days but is still up by 20.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 20 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately HK$271.34 million.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$7.35, a level that may pose a second chance to hit a runner. According to fan-theory HK$8.29 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0586.HK Signals & Forecast
Mostly positive signals in the chart today. The China Conch Venture 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$6.98 and HK$6.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 22.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for China Conch Venture Holdings Limited stock
China Conch Venture Holdings Limited finds support from accumulated volume at HK$7.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.460 between high and low, or 6.32%. For the last week, the stock has had daily average volatility of 7.63%.
The China Conch Venture Holdings Limited stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$7.19 (-3.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (0586.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect China Conch Venture Holdings Limited to open at HK$7.49, and during the day (based on 14 day Average True Range), to move between HK$7.14 and HK$7.74, which gives a possible trading interval of +/-HK$0.297 (+/-3.99%) up or down from last closing price. If China Conch Venture Holdings Limited takes out the full calculated possible swing range there will be an estimated 7.99% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$7.40, some HK$0.0400 (0.54%) from the current price of HK$7.44, our system finds the risk reward attractive.
Is China Conch Venture Holdings Limited stock A Buy?
China Conch Venture Holdings Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.219 Strong Buy Candidate Upgraded
Predicted Opening Price for China Conch Venture Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$7.49 ( 0.627%) | HK$7.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0586.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.95 | 6.81% |
| R2 | 7.77 | 4.45% |
| R1 | 7.66 | 2.99% |
| Price | 7.44 | |
| S1 | 7.31 | -1.73% |
| S2 | 7.20 | -3.19% |
| S3 | 7.03 | -5.56% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 7.44 | |
| S1 | 7.40 | -0.538% |
| S2 | 6.79 | -8.74% |
| S3 | 6.08 | -18.28% |
0586 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2024 | Jul 04, 2024 | Jul 26, 2024 | HK$0.200 | 2.69% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | HK$0.400 | 3.97% |
| 3 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | HK$0.700 | 4.05% |
| 4 | Jun 30, 2021 | Jun 30, 2021 | Jun 30, 2021 | HK$0.700 | 2.14% |
| 5 | Jul 07, 2020 | Jul 07, 2020 | Jul 07, 2020 | HK$0.650 | 1.87% |
FAQ
Click here for our free guide on how to buy China Conch Venture Holdings Limited Stock.
