Chaoda Modern Agriculture (Holdings) Ltd 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
Volatile ride for Chaoda Modern Agriculture (Holdings) Ltd stock price on Thursday moving between HK$0.0280 and HK$0.0310
(Updated on Jun 20, 2024)
The Chaoda Modern Agriculture (Holdings) Ltd stock price fell by -9.68% on the last day (Thursday, 20th Jun 2024) from HK$0.0310 to HK$0.0280. During the last trading day the stock fluctuated 10.71% from a day low at HK$0.0280 to a day high of HK$0.0310. The price has fallen in 5 of the last 10 days and is down by -15.15% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 million shares and in total, 164 thousand shares were bought and sold for approximately HK$4.59 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.71% during the next 3 months and, with a 90% probability hold a price between HK$0.0201 and HK$0.0264 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0682.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Chaoda Modern Agriculture (Holdings) Ltd 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$0.0299 and HK$0.0313. 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 05, 2024, and so far it has fallen -15.15%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chaoda Modern Agriculture (Holdings) Ltd 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0030 between high and low, or 10.71%. For the last week the stock has had daily average volatility of 5.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0682.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Chaoda Modern Agriculture (Holdings) Limited to open at HK$0.0290, and during the day (based on 14 day Average True Range), to move between HK$0.0253 and HK$0.0307, which gives a possible trading interval of +/-HK$0.0027 (+/-9.56%) up or down from last closing price. If Chaoda Modern Agriculture (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 19.12% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.0310, some HK$0.0030 (10.71%) from the current price of HK$0.0280, our system finds the risk reward not very attractive.
Is Chaoda Modern Agriculture (Holdings) Limited stock A Buy?
Chaoda Modern Agriculture (Holdings) Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -4.886 Sell Candidate Downgraded
Predicted Opening Price for Chaoda Modern Agriculture (Holdings) Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0290 ( 3.57%) | HK$0.0280 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0682.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0320 | 14.29% |
| R2 | 0.0309 | 10.19% |
| R1 | 0.0301 | 7.66% |
| Price | 0.0280 | |
| S1 | 0.0279 | -0.521% |
| S2 | 0.0271 | -3.05% |
| S3 | 0.0260 | -7.14% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0330 | 17.86% |
| R2 | 0.0320 | 14.29% |
| R1 | 0.0310 | 10.71% |
| Price | 0.0280 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
0682 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 11, 2011 | Mar 11, 2011 | Mar 11, 2011 | HK$0.0300 | 0.659% |
| 2 | Nov 24, 2010 | Nov 24, 2010 | Nov 24, 2010 | HK$0.0600 | 0.96% |
| 3 | Nov 23, 2009 | Nov 23, 2009 | Nov 23, 2009 | HK$0.0500 | 0.698% |
| 4 | Dec 04, 2008 | Dec 04, 2008 | Dec 04, 2008 | HK$0.0320 | 0.711% |
| 5 | Nov 22, 2007 | Nov 22, 2007 | Nov 22, 2007 | HK$0.0560 | 0.80% |
FAQ
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