Kingbo Strike 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
On Monday, Kingbo Strike Limited stock price gained an impressive 12.82%
(Updated on Jun 17, 2024)
The Kingbo Strike Limited stock price gained 12.82% on the last trading day (Monday, 17th Jun 2024), rising from HK$0.390 to HK$0.440. During the last trading day the stock fluctuated 10.00% from a day low at HK$0.400 to a day high of HK$0.440. The price has fallen in 4 of the last 10 days but is still up by 7.32% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 10 thousand shares were bought and sold for approximately HK$4.40 thousand. 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.409, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.474 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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1421.HK Signals & Forecast
The Kingbo Strike Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.379 and HK$0.383. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 27.54%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Kingbo Strike Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.415 and HK$0.400. 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, Kingbo Strike Limited finds support just below today's level at HK$0.415. If this is broken, then the next support from accumulated volume will be at HK$0.400 and HK$0.380.
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$0.0400 between high and low, or 10.00%. For the last week the stock has had daily average volatility of 4.27%.
Our recommended stop-loss: HK$0.426 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (1421.HK) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Kingbo Strike Limited to open at HK$0.427, and during the day (based on 14 day Average True Range), to move between HK$0.416 and HK$0.464, which gives a possible trading interval of +/-HK$0.0244 (+/-5.55%) up or down from last closing price. If Kingbo Strike Limited takes out the full calculated possible swing range there will be an estimated 11.10% 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$0.455 (3.41%) than the support at HK$0.415 (5.68%), 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 Kingbo Strike Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.908 Buy Candidate Upgraded
Predicted Opening Price for Kingbo Strike Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| HK$0.427 ( 3.03%) | HK$0.440 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1421.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.467 | 6.06% |
| R2 | 0.451 | 2.59% |
| R1 | 0.442 | 0.442% |
| Price | 0.440 | |
| S1 | 0.411 | -6.50% |
| S2 | 0.402 | -8.65% |
| S3 | 0.387 | -12.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.455 | 3.41% |
| Price | 0.440 | |
| S1 | 0.415 | -5.68% |
| S2 | 0.400 | -9.09% |
| S3 | 0.380 | -13.64% |
FAQ
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