Huanxi Media Group 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
Green day on Friday for Huanxi Media Group Limited stock after gaining 1.82%
(Updated on Apr 26, 2024)
The Huanxi Media Group Limited stock price gained 1.82% on the last trading day (Friday, 26th Apr 2024), rising from HK$0.550 to HK$0.560. During the last trading day the stock fluctuated 7.55% from a day low at HK$0.530 to a day high of HK$0.570. The price has risen in 4 of the last 10 days but is still down by -11.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately HK$3.90 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 -7.33% during the next 3 months and, with a 90% probability hold a price between HK$0.464 and HK$0.621 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
1003.HK Signals & Forecast
There are mixed signals in the stock today. The Huanxi Media Group Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.565. On a fall, the stock will find some support from the short-term average at HK$0.554. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.08%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Thursday, April 18, 2024 and based on theory for this formation the price should go up by 42.26% to HK$0.797 within 9 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Huanxi Media Group Limited stock
Huanxi Media Group Limited finds support from accumulated volume at HK$0.550 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$0.0400 between high and low, or 7.55%. For the last week, the stock has had daily average volatility of 8.85%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1003.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Huanxi Media Group Limited to open at HK$0.553, and during the day (based on 14 day Average True Range), to move between HK$0.512 and HK$0.608, which gives a possible trading interval of +/-HK$0.0485 (+/-8.65%) up or down from last closing price. If Huanxi Media Group Limited takes out the full calculated possible swing range there will be an estimated 17.31% 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$0.570 (1.79%) than the support at HK$0.550 (1.79%), 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 Huanxi Media Group Limited stock A Buy?
Huanxi Media Group Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.360 Sell Candidate Unchanged
Predicted Opening Price for Huanxi Media Group Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$0.553 ( 1.19%) | HK$0.560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1003.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.593 | 5.95 % | |
| R2 | 0.578 | 3.22 % | ||
| R1 | 0.569 | 1.54 % | ||
| Current price: | 0.560 | |||
| Support | S1 | 0.538 | -3.92 % | |
| S2 | 0.529 | -5.60 % | ||
| S3 | 0.513 | -8.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.590 | 5.36 % | |
| R2 | 0.580 | 3.57 % | ||
| R1 | 0.570 | 1.79 % | ||
| Current price | 0.560 | |||
| Support | S1 | 0.550 | -1.79% | |
| S2 | 0.540 | -3.57% | ||
| S3 | 0.530 | -5.36% |
FAQ
Click here for our free guide on how to buy Huanxi Media Group Limited Stock.
