Mongolian Mining Corporation 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
Mongolian Mining Corporation stock price ended at HK$9.70 on Friday, after gaining 1.57%.
(Updated on May 03, 2024)
The Mongolian Mining Corporation stock price gained 1.57% on the last trading day (Friday, 3rd May 2024), rising from HK$9.55 to HK$9.70. During the last trading day the stock fluctuated 2.52% from a day low at HK$9.51 to a day high of HK$9.75. The price has fallen in 6 of the last 10 days and is down by -6.37% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 232 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$18.30 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -16.80% during the next 3 months and, with a 90% probability hold a price between HK$5.36 and HK$10.43 at the end of this 3-month period.
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0975.HK Signals & Forecast
The Mongolian Mining Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$9.93. On a fall, the stock will find some support from the long-term average at approximately HK$9.09. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 25.16%. 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 Mongolian Mining Corporation stock
Mongolian Mining Corporation finds support from accumulated volume at HK$9.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.240 between high and low, or 2.52%. For the last week, the stock has had daily average volatility of 5.75%.
Our recommended stop-loss: HK$9.33 (-3.86%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (0975.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mongolian Mining Corporation to open at HK$9.65, and during the day (based on 14 day Average True Range), to move between HK$9.03 and HK$10.37, which gives a possible trading interval of +/-HK$0.674 (+/-6.95%) up or down from last closing price. If Mongolian Mining Corporation takes out the full calculated possible swing range there will be an estimated 13.90% 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$9.81 (1.13%) than the support at HK$9.30 (4.12%), 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 Mongolian Mining Corporation stock A Buy?
Mongolian Mining Corporation 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: -0.195 Hold/Accumulate Unchanged
Predicted Opening Price for Mongolian Mining Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$9.65 ( 0.481%) | HK$9.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0975.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.89 | 1.99 % | |
| R2 | 9.80 | 1.05 % | ||
| R1 | 9.75 | 0.464 % | ||
| Current price: | 9.70 | |||
| Support | S1 | 9.56 | -1.43 % | |
| S2 | 9.51 | -2.01 % | ||
| S3 | 9.41 | -2.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.78 | 11.13 % | |
| R2 | 10.38 | 7.01 % | ||
| R1 | 9.81 | 1.13 % | ||
| Current price | 9.70 | |||
| Support | S1 | 9.30 | -4.12% | |
| S2 | 8.98 | -7.42% | ||
| S3 | 7.75 | -20.10% |
FAQ
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