Powerlong Real Estate Holdings 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 Tuesday for Powerlong Real Estate Holdings Limited
(Updated on May 07, 2024)
The Powerlong Real Estate Holdings Limited stock price gained 2.94% on the last trading day (Tuesday, 7th May 2024), rising from HK$0.680 to HK$0.700. During the last trading day the stock fluctuated 6.06% from a day low at HK$0.660 to a day high of HK$0.700. The price has risen in 8 of the last 10 days and is up by 41.41% over the past 2 weeks. Volume fell on the last day by -4 million shares and in total, 19 million shares were bought and sold for approximately HK$13.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.717 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.62% during the next 3 months and, with a 90% probability hold a price between HK$0.402 and HK$0.633 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
1238.HK Signals & Forecast
The Powerlong Real Estate Holdings 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$0.679 and HK$0.584. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, May 03, 2024, and so far it has fallen -2.78%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Powerlong Real Estate Holdings Limited stock
Powerlong Real Estate Holdings Limited finds support from accumulated volume at HK$0.670 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0400 between high and low, or 6.06%. For the last week, the stock has had daily average volatility of 8.30%.
The Powerlong Real Estate Holdings Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$0.673 (-3.84%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (1238.HK) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Powerlong Real Estate Holdings Limited to open at HK$0.687, and during the day (based on 14 day Average True Range), to move between HK$0.658 and HK$0.742, which gives a possible trading interval of +/-HK$0.0421 (+/-6.01%) up or down from last closing price. If Powerlong Real Estate Holdings Limited takes out the full calculated possible swing range there will be an estimated 12.03% 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$0.710 (1.43%) than the support at HK$0.670 (4.29%), 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 Powerlong Real Estate Holdings Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.222 Buy Candidate Unchanged
Predicted Opening Price for Powerlong Real Estate Holdings Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| HK$0.687 ( 1.90%) | HK$0.700 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1238.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.727 | 3.81 % | |
| R2 | 0.711 | 1.63 % | ||
| R1 | 0.702 | 0.278 % | ||
| Current price: | 0.700 | |||
| Support | S1 | 0.671 | -4.09 % | |
| S2 | 0.662 | -5.44 % | ||
| S3 | 0.647 | -7.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.720 | 2.86 % | ||
| R1 | 0.710 | 1.43 % | ||
| Current price | 0.700 | |||
| Support | S1 | 0.670 | -4.29% | |
| S2 | 0.660 | -5.71% | ||
| S3 | 0.610 | -12.86% |
1238 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2022 | Jun 21, 2022 | Jun 21, 2022 | HK$0.100 | 5.49% |
| 2 | Dec 06, 2021 | Dec 06, 2021 | Dec 06, 2021 | HK$0.180 | 4.16% |
| 3 | Jun 16, 2021 | Jun 16, 2021 | Jun 16, 2021 | HK$0.330 | 4.69% |
| 4 | Nov 25, 2020 | Nov 25, 2020 | Nov 25, 2020 | HK$0.120 | 2.17% |
| 5 | Mar 09, 2020 | Jun 16, 2020 | Aug 04, 2020 | HK$0.0400 | 0.84% |
FAQ
Click here for our free guide on how to buy Powerlong Real Estate Holdings Limited Stock.
