CGN Mining Company 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
Big movements in CGN Mining Company Limited stock price on Friday moving 11.11% between high and low
(Updated on May 03, 2024)
The CGN Mining Company Limited stock price gained 12.38% on the last trading day (Friday, 3rd May 2024), rising from HK$2.02 to HK$2.27. During the last trading day the stock fluctuated 11.11% from a day low at HK$2.07 to a day high of HK$2.30. The price has been going up and down for this period, and there has been a 15.82% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 39 million more shares were traded than the day before. In total, 65 million shares were bought and sold for approximately HK$148.39 million.
Given the current short-term trend, the stock is expected to rise 3.82% during the next 3 months and, with a 90% probability hold a price between HK$1.59 and HK$2.36 at the end of this 3-month period.
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1164.HK Signals & Forecast
The CGN Mining Company 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$2.05 and HK$1.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 52.35%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for CGN Mining Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.93 and HK$1.88. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CGN Mining Company Limited finds support just below today's level at HK$1.93. If this is broken, then the next support from accumulated volume will be at HK$1.88 and HK$1.73.
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$0.230 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: HK$2.18 (-3.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (1164.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CGN Mining Company Limited to open at HK$2.21, and during the day (based on 14 day Average True Range), to move between HK$2.16 and HK$2.38, which gives a possible trading interval of +/-HK$0.109 (+/-4.81%) up or down from last closing price. If CGN Mining Company Limited takes out the full calculated possible swing range there will be an estimated 9.62% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.93, some HK$0.340 (14.98%) from the current price of HK$2.27, our system finds the risk reward attractive.
Is CGN Mining Company Limited stock A Buy?
CGN Mining Company Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for CGN Mining Company Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
HK$2.21 ( 2.50%) | HK$2.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1164.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.44 | 7.64 % | |
R2 | 2.36 | 3.77 % | ||
R1 | 2.30 | 1.37 % | ||
Current price: | 2.27 | |||
Support | S1 | 2.13 | -6.37 % | |
S2 | 2.07 | -8.76 % | ||
S3 | 1.98 | -12.63 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 2.27 | |||
Support | S1 | 1.93 | -14.98% | |
S2 | 1.88 | -17.18% | ||
S3 | 1.73 | -23.79% |
1164 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | HK$0.0050 | 0.735% |
2 | Mar 26, 2020 | Jun 22, 2020 | Jul 31, 2020 | HK$0.0100 | 3.08% |
3 | Mar 26, 2019 | Jun 19, 2019 | Jul 31, 2019 | HK$0.0050 | 1.52% |
4 | Mar 27, 2018 | Jun 13, 2018 | Jul 31, 2018 | HK$0.0020 | 0.444% |
5 | Mar 24, 2017 | Jun 14, 2017 | Jul 31, 2017 | HK$0.0200 | 3.17% |
FAQ
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