Alibaba Pictures 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
Weaker technical forecast for Alibaba Pictures Group Limited as stock downgraded to Sell Candidate.
(Updated on Apr 30, 2024)
The Alibaba Pictures Group Limited stock price fell by -1.05% on the last day (Tuesday, 30th Apr 2024) from HK$0.475 to HK$0.470. During the last trading day the stock fluctuated 5.49% from a day low at HK$0.455 to a day high of HK$0.480. The price has risen in 6 of the last 10 days and is up by 11.9% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -54 million shares and in total, 44 million shares were bought and sold for approximately HK$20.56 million.
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 5.09% during the next 3 months and, with a 90% probability hold a price between HK$0.439 and HK$0.512 at the end of this 3-month period.
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1060.HK Signals & Forecast
The Alibaba Pictures Group Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$0.449 and HK$0.448. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -1.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Monday, April 29, 2024 and based on theory for this formation the price should fall by -11.70% to HK$0.415 within 24 trading days since signal was issued (Thursday, May 02, 2024).
Support, Risk & Stop-loss for Alibaba Pictures Group Limited stock
Alibaba Pictures Group Limited finds support from accumulated volume at HK$0.460 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$0.0250 between high and low, or 5.49%. For the last week, the stock has had daily average volatility of 5.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1060.HK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Alibaba Pictures Group Limited to open at HK$0.468, and during the day (based on 14 day Average True Range), to move between HK$0.452 and HK$0.488, which gives a possible trading interval of +/-HK$0.0179 (+/-3.80%) up or down from last closing price. If Alibaba Pictures Group Limited takes out the full calculated possible swing range there will be an estimated 7.60% 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$0.475 (1.06%) than the support at HK$0.460 (2.13%), 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 Alibaba Pictures Group Limited stock A Buy?
Alibaba Pictures 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. 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: -1.938 Sell Candidate Downgraded
Predicted Opening Price for Alibaba Pictures Group Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| HK$0.468 ( 0.355%) | HK$0.470 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1060.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.493 | 4.96 % | |
| R2 | 0.484 | 2.93 % | ||
| R1 | 0.478 | 1.68 % | ||
| Current price: | 0.470 | |||
| Support | S1 | 0.459 | -2.39 % | |
| S2 | 0.453 | -3.64 % | ||
| S3 | 0.443 | -5.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.475 | 1.06 % | ||
| Current price | 0.470 | |||
| Support | S1 | 0.460 | -2.13% | |
| S2 | 0.455 | -3.19% | ||
| S3 | 0.450 | -4.26% |
1060 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2004 | May 11, 2004 | Jun 24, 2004 | HK$0.0400 | 8.33% |
| 2 | Mar 20, 2003 | May 02, 2003 | Jun 27, 2003 | HK$0.0300 | 6.12% |
FAQ
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