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 ended at HK$3.95 on Thursday, after losing 0%.
(Updated on Jun 20, 2024)
No changes to the price of Lee & Man Chemical Company 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$3.95 to a day high of HK$3.95. The price has risen in 5 of the last 10 days and is up by 3.13% over the past 2 weeks.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.88 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 28.26% during the next 3 months and, with a 90% probability hold a price between HK$4.98 and HK$5.79 at the end of this 3-month period.
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0746.HK Signals & Forecast
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$3.91 and HK$3.85. A breakdown below any of these levels will issue sell signals. 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 Wednesday, June 19, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Lee & Man Chemical Company Limited stock
Lee & Man Chemical Company Limited finds support from accumulated volume at HK$3.91 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 0.83%
Our recommended stop-loss: HK$3.79 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (0746.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Lee & Man Chemical Company Limited to open at HK$3.95, and during the day (based on 14 day Average True Range), to move between HK$3.89 and HK$4.01, which gives a possible trading interval of +/-HK$0.0636 (+/-1.61%) 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 3.22% 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$3.96 (0.25%) than the support at HK$3.91 (1.01%), 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 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: 1.889 Buy Candidate Unchanged
Predicted Opening Price for Lee & Man Chemical Company Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$3.95 ( 0.00000000%) | HK$3.95 |
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 | 3.95 | 0.00000000% |
| R2 | 3.95 | 0.00000000% |
| R1 | 3.95 | 0.00000000% |
| Price | 3.95 | |
| S1 | 3.95 | 0.00000000% |
| S2 | 3.95 | 0.00000000% |
| S3 | 3.95 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.14 | 4.81% |
| R2 | 4.12 | 4.30% |
| R1 | 3.96 | 0.253% |
| Price | 3.95 | |
| S1 | 3.91 | -1.01% |
| S2 | 3.90 | -1.27% |
| S3 | 3.14 | -20.51% |
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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