China Development Bank Financial Leasing 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
China Development Bank Financial Leasing stock price up 0.493% on Friday
(Updated on Apr 26, 2024)
The China Development Bank Financial Leasing stock price gained 0.493% on the last trading day (Friday, 26th Apr 2024), rising from HK$2.03 to HK$2.04. During the last trading day the stock fluctuated 1.97% from a day low at HK$2.03 to a day high of HK$2.07. The price has risen in 4 of the last 10 days and is up by 0.49% 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, 188 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$4.70 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 17.93% during the next 3 months and, with a 90% probability hold a price between HK$2.11 and HK$2.97 at the end of this 3-month period.
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1606.HK Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Development Bank Financial Leasing stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$2.04 and HK$2.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -12.07%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for China Development Bank Financial Leasing stock
China Development Bank Financial Leasing finds support from accumulated volume at HK$2.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.0400 between high and low, or 1.97%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1606.HK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect China Development Bank Financial Leasing Co., Ltd. to open at HK$2.05, and during the day (based on 14 day Average True Range), to move between HK$1.98 and HK$2.10, which gives a possible trading interval of +/-HK$0.0618 (+/-3.03%) up or down from last closing price. If China Development Bank Financial Leasing Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.06% 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$2.05 (0.49%) than the support at HK$2.02 (0.98%), 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 Development Bank Financial Leasing Co., Ltd. stock A Buy?
The China Development Bank Financial Leasing stock holds several negative signals and despite the positive trend, we believe China Development Bank Financial Leasing will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.206 Sell Candidate Unchanged
Predicted Opening Price for China Development Bank Financial Leasing Co., Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| HK$2.05 ( 0.327%) | HK$2.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1606.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.09 | 2.29 % | |
| R2 | 2.07 | 1.54 % | ||
| R1 | 2.06 | 1.08 % | ||
| Current price: | 2.04 | |||
| Support | S1 | 2.03 | -0.422 % | |
| S2 | 2.02 | -0.88 % | ||
| S3 | 2.01 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.10 | 2.94 % | |
| R2 | 2.07 | 1.47 % | ||
| R1 | 2.05 | 0.490 % | ||
| Current price | 2.04 | |||
| Support | S1 | 2.02 | -0.98% | |
| S2 | 2.00 | -1.96% | ||
| S3 | 1.77 | -13.24% |
1606 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | HK$0.0867 | 8.34% |
| 2 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | HK$0.109 | 10.49% |
| 3 | Jul 02, 2021 | Jul 02, 2021 | Jul 02, 2021 | HK$0.0931 | 8.24% |
| 4 | Mar 27, 2020 | Jul 16, 2020 | Aug 24, 2020 | HK$0.114 | 9.78% |
| 5 | Mar 28, 2019 | Jul 03, 2019 | Aug 09, 2019 | HK$0.102 | 6.47% |
FAQ
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