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
Red day on Thursday for Kingbo Strike Limited
(Updated on Jun 20, 2024)
No changes to the price of Kingbo Strike Limited stock on the last trading day (Thursday, 20th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.440 to a day high of HK$0.440. The price has been going up and down for this period, and there has been a 11.39% gain for the last 2 weeks.
The stock has broken the very wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. HK$0.440 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach HK$0.536 sometime during the next 3 months.
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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. 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$0.406 and HK$0.388. 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). 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 19, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, May 24, 2024 with a target of HK$0.375. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
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.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 3.08%
Our recommended stop-loss: HK$0.423 (-3.84%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (1421.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Kingbo Strike Limited to open at HK$0.440, and during the day (based on 14 day Average True Range), to move between HK$0.421 and HK$0.459, which gives a possible trading interval of +/-HK$0.0193 (+/-4.38%) up or down from last closing price. If Kingbo Strike Limited takes out the full calculated possible swing range there will be an estimated 8.77% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.415, some HK$0.0250 (5.68%) from the current price of HK$0.440, our system finds the risk reward attractive.
Is Kingbo Strike Limited stock A Buy?
Kingbo Strike 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 Kingbo Strike Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$0.440 ( 0%) | 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 | 0.440 | - |
| R2 | 0.440 | - |
| R1 | 0.440 | - |
| Price | 0.440 | |
| S1 | 0.440 | - |
| S2 | 0.440 | - |
| S3 | 0.440 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.440 | |
| S1 | 0.415 | -5.68% |
| S2 | 0.400 | -9.09% |
| S3 | 0.380 | -13.64% |
FAQ
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