PuraPharm Corporation 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
PuraPharm Corporation Limited stock price ended at HK$0.750 on Friday, after gaining 2.74%.
(Updated on Jun 14, 2024)
The PuraPharm Corporation Limited stock price gained 2.74% on the last trading day (Friday, 14th Jun 2024), rising from HK$0.730 to HK$0.750. During the last trading day the stock fluctuated 7.04% from a day low at HK$0.710 to a day high of HK$0.760. The price has risen in 5 of the last 10 days and is up by 4.17% 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, 158 thousand more shares were traded than the day before. In total, 261 thousand shares were bought and sold for approximately HK$195.38 thousand.
The stock lies in the middle of a 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 -10.19% during the next 3 months and, with a 90% probability hold a price between HK$0.623 and HK$0.694 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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1498.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 5.63%. Further rise is indicated until a new top pivot has been found. PuraPharm Corporation Limited 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. The PuraPharm Corporation Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.752. On a fall, the stock will find some support from the short-term average at HK$0.737. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PuraPharm Corporation Limited stock
PuraPharm Corporation Limited finds support from accumulated volume at HK$0.740 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0500 between high and low, or 7.04%. For the last week, the stock has had daily average volatility of 7.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1498.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect PuraPharm Corporation Limited to open at HK$0.740, and during the day (based on 14 day Average True Range), to move between HK$0.712 and HK$0.788, which gives a possible trading interval of +/-HK$0.0382 (+/-5.10%) up or down from last closing price. If PuraPharm Corporation Limited takes out the full calculated possible swing range there will be an estimated 10.20% 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$0.760 (1.33%) than the support at HK$0.740 (1.33%), 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 PuraPharm Corporation Limited stock A Buy?
PuraPharm Corporation Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.335 Sell Candidate Unchanged
Predicted Opening Price for PuraPharm Corporation Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$0.740 ( 1.33%) | HK$0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1498.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.790 | 5.33% |
| R2 | 0.771 | 2.79% |
| R1 | 0.759 | 1.21% |
| Price | 0.750 | |
| S1 | 0.721 | -3.88% |
| S2 | 0.709 | -5.45% |
| S3 | 0.690 | -8.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.81 | 8.00% |
| R2 | 0.780 | 4.00% |
| R1 | 0.760 | 1.33% |
| Price | 0.750 | |
| S1 | 0.740 | -1.33% |
| S2 | 0.730 | -2.67% |
| S3 | 0.710 | -5.33% |
1498 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2017 | May 31, 2017 | Jun 23, 2017 | HK$0.0191 | 0.546% |
| 2 | May 19, 2016 | May 19, 2016 | May 19, 2016 | HK$0.0840 | 2.55% |
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