Hongkong Chinese 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
Hongkong Chinese Limited stock downgraded to Sell Candidate
(Updated on Jun 17, 2024)
No changes to the price of Hongkong Chinese Limited stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.290 to a day high of HK$0.290. The price has been going up and down for this period, and there has been a -10.77% loss for the last 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.41% during the next 3 months and, with a 90% probability hold a price between HK$0.270 and HK$0.334 at the end of this 3-month period.
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0655.HK Signals & Forecast
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 Hongkong Chinese 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$0.294 and HK$0.291. 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 -10.77%. 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).
Support, Risk & Stop-loss for Hongkong Chinese Limited stock
Hongkong Chinese Limited finds support from accumulated volume at HK$0.280 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 1.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0655.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Hongkong Chinese Limited to open at HK$0.290, and during the day (based on 14 day Average True Range), to move between HK$0.280 and HK$0.300, which gives a possible trading interval of +/-HK$0.0097 (+/-3.33%) up or down from last closing price. If Hongkong Chinese Limited takes out the full calculated possible swing range there will be an estimated 6.67% 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$0.295 (1.72%) than the support at HK$0.280 (3.45%), 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 Hongkong Chinese Limited stock A Buy?
The Hongkong Chinese Limited stock holds several negative signals and despite the positive trend, we believe Hongkong Chinese Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.593 Sell Candidate Downgraded
Predicted Opening Price for Hongkong Chinese Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$0.290 ( 0%) | HK$0.290 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0655.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.290 | - |
| R2 | 0.290 | - |
| R1 | 0.290 | - |
| Price | 0.290 | |
| S1 | 0.290 | - |
| S2 | 0.290 | - |
| S3 | 0.290 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.325 | 12.07% |
| R2 | 0.315 | 8.62% |
| R1 | 0.295 | 1.72% |
| Price | 0.290 | |
| S1 | 0.280 | -3.45% |
| S2 | 0.275 | -5.17% |
| S3 | 0.260 | -10.34% |
0655 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 11, 2024 | Jun 11, 2024 | Jun 24, 2024 | HK$0.0100 | 3.45% |
| 2 | Sep 30, 2022 | Sep 30, 2022 | Sep 30, 2022 | HK$0.0100 | 1.79% |
| 3 | Jun 13, 2022 | Jun 13, 2022 | Jun 13, 2022 | HK$0.0125 | 2.08% |
| 4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | HK$0.0075 | 1.12% |
| 5 | Jan 04, 2021 | Jan 04, 2021 | Jan 04, 2021 | HK$0.0100 | 1.52% |
FAQ
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