Lee & Man Chemical Company 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
Lee & Man Chemical Company Limited stock price down 0.255% on Friday
(Updated on Jun 14, 2024)
The Lee & Man Chemical Company Limited stock price fell by -0.255% on the last day (Friday, 14th Jun 2024) from HK$3.92 to HK$3.91. During the last trading day the stock fluctuated 0.513% from a day low at HK$3.90 to a day high of HK$3.92. The price has fallen in 4 of the last 10 days and is down by -0.76% for this period. Volume has increased on the last day by 120 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 146 thousand shares were bought and sold for approximately HK$570.86 thousand.
The stock lies in the middle of a wide and strong 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 27.25% during the next 3 months and, with a 90% probability hold a price between HK$4.77 and HK$5.64 at the end of this 3-month period.
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0746.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -5.56%. 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). Lee & Man Chemical Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Lee & Man Chemical Company 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$3.90 and HK$3.78. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Lee & Man Chemical Company Limited stock
Lee & Man Chemical Company Limited finds support from accumulated volume at HK$3.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0200 between high and low, or 0.513%. For the last week the stock has had daily average volatility of 0.718%.
Our recommended stop-loss: HK$3.72 (-4.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (0746.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Lee & Man Chemical Company Limited to open at HK$3.91, and during the day (based on 14 day Average True Range), to move between HK$3.84 and HK$3.98, which gives a possible trading interval of +/-HK$0.0723 (+/-1.85%) up or down from last closing price. If Lee & Man Chemical Company Limited takes out the full calculated possible swing range there will be an estimated 3.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$3.90 (0.26%) than the resistance at HK$3.93 (0.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lee & Man Chemical Company 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 Lee & Man Chemical Company Limited stock to perform well in the short-term.
Current score: 1.194 Buy Candidate Unchanged
Predicted Opening Price for Lee & Man Chemical Company Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$3.91 ( 0%) | HK$3.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0746.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.93 | 0.512% |
| R2 | 3.92 | 0.316% |
| R1 | 3.92 | 0.195% |
| Price | 3.91 | |
| S1 | 3.90 | -0.195% |
| S2 | 3.90 | -0.316% |
| S3 | 3.89 | -0.512% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.14 | 5.88% |
| R2 | 3.94 | 0.767% |
| R1 | 3.93 | 0.512% |
| Price | 3.91 | |
| S1 | 3.90 | -0.256% |
| S2 | 3.27 | -16.37% |
| S3 | 3.14 | -19.69% |
0746 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | Jun 05, 2024 | HK$0.140 | 3.66% |
| 2 | Aug 11, 2023 | Aug 11, 2023 | Sep 05, 2023 | HK$0.0500 | 1.55% |
| 3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | HK$0.170 | 3.41% |
| 4 | Aug 19, 2022 | Aug 19, 2022 | Aug 19, 2022 | HK$0.380 | 5.42% |
| 5 | May 16, 2022 | May 16, 2022 | May 16, 2022 | HK$0.320 | 4.99% |
FAQ
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