Sinopec Kantons 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
Evaluation of Sinopec Kantons Holdings Limited stock downgraded after the last trading session.
(Updated on Jun 27, 2024)
The Sinopec Kantons Holdings Limited stock price fell by -1.76% on the last day (Thursday, 27th Jun 2024) from HK$3.97 to HK$3.90. During the last trading day the stock fluctuated 2.58% from a day low at HK$3.88 to a day high of HK$3.98. The price has fallen in 5 of the last 10 days and is down by -2.5% for this period. Volume has increased on the last day by 1 million 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, 3 million shares were bought and sold for approximately HK$12.71 million.
The stock lies in the middle of a weak 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 6.68% during the next 3 months and, with a 90% probability hold a price between HK$4.08 and HK$4.46 at the end of this 3-month period.
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0934.HK Signals & Forecast
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. The Sinopec Kantons Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$3.97 and HK$3.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.74%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sinopec Kantons Holdings Limited stock
Sinopec Kantons Holdings Limited finds support from accumulated volume at HK$3.84 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$0.100 between high and low, or 2.58%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0934.HK) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Sinopec Kantons Holdings Limited to open at HK$3.92, and during the day (based on 14 day Average True Range), to move between HK$3.79 and HK$4.01, which gives a possible trading interval of +/-HK$0.109 (+/-2.80%) up or down from last closing price. If Sinopec Kantons Holdings Limited takes out the full calculated possible swing range there will be an estimated 5.59% 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$3.84 (1.54%) than the resistance at HK$3.97 (1.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sinopec Kantons Holdings Limited stock A Buy?
The Sinopec Kantons Holdings Limited stock holds several negative signals and despite the positive trend, we believe Sinopec Kantons Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.813 Sell Candidate Downgraded
Predicted Opening Price for Sinopec Kantons Holdings Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| HK$3.92 ( 0.513%) | HK$3.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0934.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.02 | 3.08% |
| R2 | 3.98 | 2.10% |
| R1 | 3.96 | 1.49% |
| Price | 3.90 | |
| S1 | 3.88 | -0.467% |
| S2 | 3.86 | -1.07% |
| S3 | 3.82 | -2.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.00 | 2.56% |
| R2 | 3.98 | 2.05% |
| R1 | 3.97 | 1.79% |
| Price | 3.90 | |
| S1 | 3.84 | -1.54% |
| S2 | 3.78 | -3.08% |
| S3 | 3.72 | -4.62% |
0934 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 12, 2024 | Jun 12, 2024 | Jun 28, 2024 | HK$0.150 | 3.87% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | HK$0.100 | 3.18% |
| 3 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | HK$0.120 | 4.21% |
| 4 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | HK$0.0800 | 3.39% |
| 5 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.120 | 4.72% |
FAQ
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