Man Yue Technology 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
A very strong day for Man Yue Technology Holdings Limited stock price on Tuesday
(Updated on May 28, 2024)
The Man Yue Technology Holdings Limited stock price gained 5.75% on the last trading day (Tuesday, 28th May 2024), rising from HK$0.435 to HK$0.460. During the last trading day the stock fluctuated 5.75% from a day low at HK$0.435 to a day high of HK$0.460. The price has risen in 6 of the last 10 days and is up by 16.46% over the past 2 weeks. Volume fell on the last day by -426 thousand shares and in total, 54 thousand shares were bought and sold for approximately HK$24.84 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very 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$0.488 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.55% during the next 3 months and, with a 90% probability hold a price between HK$0.450 and HK$0.632 at the end of this 3-month period.
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0894.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -4.17%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The Man Yue Technology 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$0.455 and HK$0.382. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Man Yue Technology Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.390 and HK$0.385. 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, Man Yue Technology Holdings Limited finds support just below today's level at HK$0.390. If this is broken, then the next support from accumulated volume will be at HK$0.385 and HK$0.370.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0250 between high and low, or 5.75%. For the last week the stock has had daily average volatility of 8.22%.
Our recommended stop-loss: HK$0.441 (-4.17%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (0894.HK) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Man Yue Technology Holdings Limited to open at HK$0.452, and during the day (based on 14 day Average True Range), to move between HK$0.421 and HK$0.499, which gives a possible trading interval of +/-HK$0.0392 (+/-8.52%) up or down from last closing price. If Man Yue Technology Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.03% 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$0.465 (1.09%) than the support at HK$0.390 (15.22%), 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 Man Yue Technology 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 Man Yue Technology Holdings Limited stock to perform well in the short-term.
Current score: 2.301 Buy Candidate Unchanged
Predicted Opening Price for Man Yue Technology Holdings Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| HK$0.452 ( 1.81%) | HK$0.460 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0894.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.477 | 3.62 % | |
| R2 | 0.467 | 1.55 % | ||
| R1 | 0.461 | 0.264 % | ||
| Current price: | 0.460 | |||
| Support | S1 | 0.442 | -3.89 % | |
| S2 | 0.436 | -5.17 % | ||
| S3 | 0.427 | -7.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.480 | 4.35 % | ||
| R1 | 0.465 | 1.09 % | ||
| Current price | 0.460 | |||
| Support | S1 | 0.390 | -15.22% | |
| S2 | 0.385 | -16.30% | ||
| S3 | 0.370 | -19.57% |
0894 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2015 | May 14, 2015 | May 14, 2015 | HK$0.0100 | 0.746% |
| 2 | Sep 08, 2014 | Sep 08, 2014 | Sep 08, 2014 | HK$0.0150 | 0.81% |
| 3 | May 12, 2014 | May 12, 2014 | May 12, 2014 | HK$0.0150 | 0.721% |
| 4 | Sep 10, 2013 | Sep 10, 2013 | Sep 10, 2013 | HK$0.0200 | 2.11% |
| 5 | May 06, 2013 | May 06, 2013 | May 06, 2013 | HK$0.0250 | 2.27% |
FAQ
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