Huili Resources 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 Friday for Huili Resources stock after gaining 1.69%
(Updated on Jun 28, 2024)
The Huili Resources stock price gained 1.69% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.590 to HK$0.600. During the last trading day the stock fluctuated 3.45% from a day low at HK$0.580 to a day high of HK$0.600. The price has risen in 6 of the last 10 days and is up by 34.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 226 thousand more shares were traded than the day before. In total, 544 thousand shares were bought and sold for approximately HK$326.40 thousand.
The stock lies in the upper part of a wide and strong rising 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$0.608 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 47.02% during the next 3 months and, with a 90% probability hold a price between HK$0.716 and HK$0.89 at the end of this 3-month period.
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1303.HK Signals & Forecast
The Huili Resources 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$0.587 and HK$0.491. 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). Huili Resources has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Wednesday, June 26, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Huili Resources stock
Huili Resources finds support from accumulated volume at HK$0.590 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$0.0200 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 4.99%.
Our recommended stop-loss: HK$0.578 (-3.72%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (1303.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Huili Resources to open at HK$0.593, and during the day (based on 14 day Average True Range), to move between HK$0.556 and HK$0.644, which gives a possible trading interval of +/-HK$0.0440 (+/-7.34%) up or down from last closing price. If Huili Resources takes out the full calculated possible swing range there will be an estimated 14.68% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.590, some HK$0.0100 (1.67%) from the current price of HK$0.600, our system finds the risk reward attractive.
Is Huili Resources stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Huili Resources stock to perform well in the short-term.
Current score: 3.434 Buy Candidate Unchanged
Predicted Opening Price for Huili Resources of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.593 ( 1.11%) | HK$0.600 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1303.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.613 | 2.22% |
| R2 | 0.606 | 0.95% |
| R1 | 0.601 | 0.162% |
| Price | 0.600 | |
| S1 | 0.586 | -2.38% |
| S2 | 0.581 | -3.17% |
| S3 | 0.573 | -4.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.600 | |
| S1 | 0.590 | -1.67% |
| S2 | 0.560 | -6.67% |
| S3 | 0.490 | -18.33% |
FAQ
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