China Oil And Gas 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:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=25a8ebeec01b7b81c6d8306e42bbbe090ea218b2)
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 China Oil And Gas Group Limited stock after losing 0%
(Updated on Jun 20, 2024)
No changes to the price of China Oil And Gas 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$0.205 to a day high of HK$0.205. The price has been going up and down for this period, and there has been a -3.76% loss for the last 2 weeks.
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$0.201 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 3.89% during the next 3 months and, with a 90% probability hold a price between HK$0.209 and HK$0.231 at the end of this 3-month period.
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0603.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 1.99%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Oil And Gas 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$0.205 and HK$0.208. 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).
Support, Risk & Stop-loss for China Oil And Gas Group Limited stock
China Oil And Gas Group Limited finds support from accumulated volume at HK$0.204 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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: HK$0.192 (-6.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (0603.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect China Oil And Gas Group Limited to open at HK$0.205, and during the day (based on 14 day Average True Range), to move between HK$0.200 and HK$0.210, which gives a possible trading interval of +/-HK$0.0051 (+/-2.47%) up or down from last closing price. If China Oil And Gas Group Limited takes out the full calculated possible swing range there will be an estimated 4.94% 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$0.206 (0.49%) than the support at HK$0.204 (0.49%), 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 China Oil And Gas Group Limited stock A Buy?
China Oil And Gas 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.
Current score: 0.411 Hold/Accumulate Unchanged
Predicted Opening Price for China Oil And Gas Group Limited of Friday, June 21, 2024
Fair opening price June 21, 2024 | Current price |
---|---|
HK$0.205 ( 0%) | HK$0.205 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0603.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.205 | - |
R2 | 0.205 | - |
R1 | 0.205 | - |
Price | 0.205 | |
S1 | 0.205 | - |
S2 | 0.205 | - |
S3 | 0.205 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.220 | 7.32% |
R2 | 0.208 | 1.46% |
R1 | 0.206 | 0.488% |
Price | 0.205 | |
S1 | 0.204 | -0.488% |
S2 | 0.203 | -0.98% |
S3 | 0.202 | -1.46% |
0603 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 04, 2019 | Jun 04, 2019 | Jun 24, 2019 | HK$0.0040 | 1.05% |
2 | Jun 15, 2018 | Jun 15, 2018 | Jul 06, 2018 | HK$0.0035 | 0.593% |
3 | Jun 05, 2014 | Jun 05, 2014 | Jun 05, 2014 | HK$0.0065 | 0.550% |
4 | May 03, 2013 | May 03, 2013 | May 03, 2013 | HK$0.0059 | 0.433% |
FAQ
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