Singamas Container 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
Singamas Container Holdings Limited stock downgraded to Buy Candidate
(Updated on Jul 03, 2024)
The Singamas Container Holdings Limited stock price fell by -0.99% on the last day (Wednesday, 3rd Jul 2024) from HK$1.01 to HK$1.00. During the last trading day the stock fluctuated 5.10% from a day low at HK$0.98 to a day high of HK$1.03. The price has risen in 5 of the last 10 days and is up by 7.53% over the past 2 weeks. 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 -3 million shares and in total, 23 million shares were bought and sold for approximately HK$22.75 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$1.02 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 89.94% during the next 3 months and, with a 90% probability hold a price between HK$1.69 and HK$1.93 at the end of this 3-month period.
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0716.HK Signals & Forecast
The Singamas Container 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$0.98 and HK$0.83. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, July 02, 2024, and so far it has fallen -0.99%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Singamas Container Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.93 and HK$0.83. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Singamas Container Holdings Limited finds support just below today's level at HK$0.93. If this is broken, then the next support from accumulated volume will be at HK$0.83 and HK$0.790.
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$0.0500 between high and low, or 5.10%. For the last week, the stock has had daily average volatility of 6.14%.
The Singamas Container Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$0.97 (-3.40%) (This stock has high daily movements and this gives high risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (0716.HK) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Singamas Container Holdings Limited to open at HK$1.00, and during the day (based on 14 day Average True Range), to move between HK$0.95 and HK$1.05, which gives a possible trading interval of +/-HK$0.0510 (+/-5.10%) up or down from last closing price. If Singamas Container Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.21% 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$1.01 (1.00%) than the support at HK$0.93 (7.00%), 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 Singamas Container Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Singamas Container Holdings Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.647 Buy Candidate Downgraded
Predicted Opening Price for Singamas Container Holdings Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| HK$1.00 ( 0.333%) | HK$1.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0716.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.05 | 5.33% |
| R2 | 1.03 | 3.42% |
| R1 | 1.02 | 2.24% |
| Price | 1.00 | |
| S1 | 0.98 | -1.58% |
| S2 | 0.97 | -2.76% |
| S3 | 0.95 | -4.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1.01 | 1.00% |
| Price | 1.00 | |
| S1 | 0.93 | -7.00% |
| S2 | 0.83 | -17.00% |
| S3 | 0.790 | -21.00% |
0716 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Jul 19, 2024 | HK$0.0400 | 4.00% |
| 2 | Sep 11, 2023 | Sep 11, 2023 | Sep 11, 2023 | HK$0.170 | 32.08% |
| 3 | Jul 03, 2023 | Jul 03, 2023 | Jul 03, 2023 | HK$0.0200 | 3.17% |
| 4 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | HK$0.0400 | 5.63% |
| 5 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | HK$0.0500 | 5.15% |
FAQ
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