Wai Yuen Tong Medicine 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
High volatility in Wai Yuen Tong Medicine Holdings Limited stock price on Thursday which ended trading at HK$0.335
(Updated on Jun 27, 2024)
The Wai Yuen Tong Medicine Holdings Limited stock price gained 37.86% on the last trading day (Thursday, 27th Jun 2024), rising from HK$0.243 to HK$0.335. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 38.18% from a day low at HK$0.275 to a day high of HK$0.380. The price has risen in 8 of the last 10 days and is up by 55.09% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately HK$6.24 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.236, a level that may pose a second chance to hit a runner.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
0897.HK Signals & Forecast
The Wai Yuen Tong Medicine 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$0.240 and HK$0.227. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 57.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Wai Yuen Tong Medicine Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.260 and HK$0.255. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$0.255 may give a huge drop in the stock price.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.105 between high and low, or 38.18%. For the last week, the stock has had daily average volatility of 10.44%.
The Wai Yuen Tong Medicine Holdings Limited stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$0.324 (-3.22%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (0897.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Wai Yuen Tong Medicine Holdings Limited to open at HK$0.330, and during the day (based on 14 day Average True Range), to move between HK$0.320 and HK$0.350, which gives a possible trading interval of +/-HK$0.0153 (+/-4.58%) up or down from last closing price. If Wai Yuen Tong Medicine Holdings Limited takes out the full calculated possible swing range there will be an estimated 9.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.260, some HK$0.0750 (22.39%) from the current price of HK$0.335, our system finds the risk reward attractive.
Is Wai Yuen Tong Medicine Holdings Limited stock A Buy?
Wai Yuen Tong Medicine Holdings Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Wai Yuen Tong Medicine Holdings Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$0.330 ( 1.49%) | HK$0.335 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0897.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.435 | 29.85% |
| R2 | 0.395 | 17.88% |
| R1 | 0.370 | 10.48% |
| Price | 0.335 | |
| S1 | 0.290 | -13.47% |
| S2 | 0.265 | -20.86% |
| S3 | 0.225 | -32.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.335 | |
| S1 | 0.260 | -22.39% |
| S2 | 0.255 | -23.88% |
| S3 | 0 | - |
0897 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2014 | Jul 21, 2014 | Jul 21, 2014 | HK$0.0508 | 1.21% |
| 2 | Aug 27, 2013 | Aug 27, 2013 | Aug 27, 2013 | HK$0.0508 | 1.46% |
| 3 | Aug 03, 2011 | Aug 03, 2011 | Aug 03, 2011 | HK$0.0508 | 2.13% |
FAQ
Click here for our free guide on how to buy Wai Yuen Tong Medicine Holdings Limited Stock.
