Huarong International Financial Holdings 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
Huarong International Financial Holdings stock price down 0% on Monday
(Updated on Jun 17, 2024)
No changes to the price of Huarong International Financial Holdings stock on the last trading day (Monday, 17th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0540 to a day high of HK$0.0540. The price has fallen in 4 of the last 10 days and is down by -1.82% for this period.
The stock lies in the middle of a wide and 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 3.91% during the next 3 months and, with a 90% probability hold a price between HK$0.0505 and HK$0.0622 at the end of this 3-month period.
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0993.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Huarong International Financial Holdings stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.0550 and HK$0.0557. A break-up above any of these levels will issue buy signals. 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.
A sell signal from a double top formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should fall by -5.56% to HK$0.0510 within 6 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Huarong International Financial Holdings stock
Huarong International Financial Holdings finds support from accumulated volume at HK$0.0530 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 3.16%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (0993.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Huarong International Financial Holdings Limited to open at HK$0.0540, and during the day (based on 14 day Average True Range), to move between HK$0.0509 and HK$0.0571, which gives a possible trading interval of +/-HK$0.0031 (+/-5.72%) up or down from last closing price. If Huarong International Financial Holdings Limited takes out the full calculated possible swing range there will be an estimated 11.45% 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$0.0550 (1.85%) than the support at HK$0.0530 (1.85%), 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 Huarong International Financial Holdings Limited stock A Buy?
The Huarong International Financial Holdings stock holds several negative signals and despite the positive trend, we believe Huarong International Financial Holdings will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.307 Sell Candidate Unchanged
Predicted Opening Price for Huarong International Financial Holdings Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$0.0540 ( 0%) | HK$0.0540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0993.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0540 | - |
| R2 | 0.0540 | - |
| R1 | 0.0540 | - |
| Price | 0.0540 | |
| S1 | 0.0540 | - |
| S2 | 0.0540 | - |
| S3 | 0.0540 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0590 | 9.26% |
| R2 | 0.0560 | 3.70% |
| R1 | 0.0550 | 1.85% |
| Price | 0.0540 | |
| S1 | 0.0530 | -1.85% |
| S2 | 0.0500 | -7.41% |
| S3 | 0.0480 | -11.11% |
0993 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 29, 2018 | May 29, 2018 | May 29, 2018 | HK$0.0170 | 0.98% |
| 2 | Aug 20, 2014 | Aug 20, 2014 | Aug 20, 2014 | HK$0.148 | 3.33% |
| 3 | Feb 14, 2008 | Feb 14, 2008 | Feb 14, 2008 | HK$0.278 | 1.45% |
| 4 | Sep 18, 2007 | Sep 18, 2007 | Sep 18, 2007 | HK$0.333 | 1.30% |
| 5 | Sep 22, 2006 | Sep 22, 2006 | Sep 22, 2006 | HK$0.333 | 3.00% |
FAQ
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