China Yurun Food 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
Evaluation of China Yurun Food Group Limited stock downgraded after the last trading session.
(Updated on May 17, 2024)
The China Yurun Food Group Limited stock price fell by -3.45% on the last day (Friday, 17th May 2024) from HK$0.174 to HK$0.168. During the last trading day the stock fluctuated 3.03% from a day low at HK$0.165 to a day high of HK$0.170. The price has risen in 6 of the last 10 days and is up by 1.82% over the past 2 weeks. Volume has increased on the last day by 35 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, 1 million shares were bought and sold for approximately HK$212.69 thousand.
The stock lies in the middle of a 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 -5.70% during the next 3 months and, with a 90% probability hold a price between HK$0.137 and HK$0.167 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1068.HK Signals & Forecast
The China Yurun Food Group Limited 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$0.171. On a fall, the stock will find some support from the long-term average at approximately HK$0.164. 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. 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 Tuesday, May 14, 2024, and so far it has fallen -5.08%. Further fall is indicated until a new bottom pivot has been found. China Yurun Food Group Limited 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".
Support, Risk & Stop-loss for China Yurun Food Group Limited stock
China Yurun Food Group Limited finds support from accumulated volume at HK$0.165 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$0.0050 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1068.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect China Yurun Food Group Limited to open at HK$0.168, and during the day (based on 14 day Average True Range), to move between HK$0.159 and HK$0.177, which gives a possible trading interval of +/-HK$0.0093 (+/-5.51%) up or down from last closing price. If China Yurun Food Group Limited takes out the full calculated possible swing range there will be an estimated 11.02% 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$0.170 (1.19%) than the support at HK$0.165 (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 China Yurun Food Group Limited stock A Buy?
China Yurun Food 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 Hold/Accumulate to a Sell candidate.
Current score: -3.056 Sell Candidate Downgraded
Predicted Opening Price for China Yurun Food Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.168 ( 0.198%) | HK$0.168 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1068.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.173 | 2.78 % | |
| R2 | 0.171 | 1.64 % | ||
| R1 | 0.170 | 0.94 % | ||
| Current price: | 0.168 | |||
| Support | S1 | 0.166 | -1.34 % | |
| S2 | 0.165 | -2.04 % | ||
| S3 | 0.163 | -3.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.174 | 3.57 % | |
| R2 | 0.173 | 2.98 % | ||
| R1 | 0.170 | 1.19 % | ||
| Current price | 0.168 | |||
| Support | S1 | 0.165 | -1.79% | |
| S2 | 0.163 | -2.98% | ||
| S3 | 0.156 | -7.14% |
1068 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 17, 2011 | Aug 30, 2011 | Sep 14, 2011 | HK$0.220 | 1.70% |
| 2 | Mar 29, 2011 | May 25, 2011 | Jun 13, 2011 | HK$0.200 | 0.727% |
| 3 | Aug 24, 2010 | Sep 06, 2010 | Sep 20, 2010 | HK$0.200 | 0.692% |
| 4 | Mar 29, 2010 | May 19, 2010 | Jun 14, 2010 | HK$0.150 | 0.632% |
| 5 | Sep 09, 2009 | Oct 12, 2009 | Oct 28, 2009 | HK$0.150 | 0.95% |
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