China Everbright Greentech 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
Red day on Friday for China Everbright Greentech Limited stock after losing 2.86%
(Updated on May 31, 2024)
The China Everbright Greentech Limited stock price fell by -2.86% on the last day (Friday, 31st May 2024) from HK$0.700 to HK$0.680. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.41% from a day low at HK$0.680 to a day high of HK$0.710. The price has fallen in 7 of the last 10 days and is down by -9.33% for this period. 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 -231 thousand shares and in total, 804 thousand shares were bought and sold for approximately HK$546.72 thousand.
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 -10.89% during the next 3 months and, with a 90% probability hold a price between HK$0.531 and HK$0.668 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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1257.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Everbright Greentech Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.701 and HK$0.699. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -9.33%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for China Everbright Greentech Limited stock
China Everbright Greentech 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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0300 between high and low, or 4.41%. For the last week the stock has had daily average volatility of 3.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1257.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect China Everbright Greentech Limited to open at HK$0.690, and during the day (based on 14 day Average True Range), to move between HK$0.648 and HK$0.712, which gives a possible trading interval of +/-HK$0.0320 (+/-4.70%) up or down from last closing price. If China Everbright Greentech Limited takes out the full calculated possible swing range there will be an estimated 9.40% 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$0.690 (1.47%) than the support at HK$0.670 (1.47%), 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 Everbright Greentech Limited stock A Buy?
China Everbright Greentech Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.999 Sell Candidate Unchanged
Predicted Opening Price for China Everbright Greentech Limited of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
HK$0.690 ( 1.47%) | HK$0.680 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1257.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.720 | 5.88 % | |
R2 | 0.709 | 4.20 % | ||
R1 | 0.701 | 3.16 % | ||
Current price: | 0.680 | |||
Support | S1 | 0.679 | -0.215 % | |
S2 | 0.671 | -1.26 % | ||
S3 | 0.660 | -2.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.730 | 7.35 % | |
R2 | 0.700 | 2.94 % | ||
R1 | 0.690 | 1.47 % | ||
Current price | 0.680 | |||
Support | S1 | 0.670 | -1.47% | |
S2 | 0.660 | -2.94% | ||
S3 | 0 | . |
1257 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | HK$0.0360 | 2.25% |
2 | May 19, 2022 | May 19, 2022 | May 19, 2022 | HK$0.0400 | 1.97% |
3 | Sep 07, 2021 | Sep 07, 2021 | Sep 07, 2021 | HK$0.0700 | 2.44% |
4 | May 24, 2021 | May 24, 2021 | May 24, 2021 | HK$0.0700 | 2.38% |
5 | Sep 09, 2020 | Sep 09, 2020 | Sep 09, 2020 | HK$0.0800 | 2.56% |
FAQ
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