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
Weaker technical forecast for Huarong International Financial Holdings as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)
The Huarong International Financial Holdings stock price fell by -1.85% on the last day (Thursday, 20th Jun 2024) from HK$0.0540 to HK$0.0530. During the last trading day the stock fluctuated 3.85% from a day low at HK$0.0520 to a day high of HK$0.0540. The price has fallen in 5 of the last 10 days and is down by -1.85% for this period. Volume has increased on the last day by 183 thousand 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, 198 thousand shares were bought and sold for approximately HK$10.50 thousand.
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 5.46% during the next 3 months and, with a 90% probability hold a price between HK$0.0520 and HK$0.0628 at the end of this 3-month period.
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0993.HK Signals & Forecast
There are few to no technical positive signals at the moment. 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$0.0546 and HK$0.0557. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -10.17%. 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). Huarong International Financial Holdings gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Huarong International Financial Holdings stock
Huarong International Financial Holdings finds support from accumulated volume at HK$0.0520 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.0020 between high and low, or 3.85%. For the last week, the stock has had daily average volatility of 3.57%.
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 Friday 21st
For the upcoming trading day on Friday, 21st we expect Huarong International Financial Holdings Limited to open at HK$0.0530, and during the day (based on 14 day Average True Range), to move between HK$0.0501 and HK$0.0559, which gives a possible trading interval of +/-HK$0.0029 (+/-5.41%) 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 10.82% 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$0.0540 (1.89%) than the support at HK$0.0520 (1.89%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.520 Sell Candidate Downgraded
Predicted Opening Price for Huarong International Financial Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.0530 ( 0%) | HK$0.0530 |
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 | 0.0550 | 3.77% |
| R2 | 0.0542 | 2.33% |
| R1 | 0.0538 | 1.44% |
| Price | 0.0530 | |
| S1 | 0.0522 | -1.44% |
| S2 | 0.0518 | -2.33% |
| S3 | 0.0510 | -3.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0590 | 11.32% |
| R2 | 0.0550 | 3.77% |
| R1 | 0.0540 | 1.89% |
| Price | 0.0530 | |
| S1 | 0.0520 | -1.89% |
| S2 | 0.0500 | -5.66% |
| S3 | 0.0480 | -9.43% |
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% |
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