Metallurgical Corporation of China Ltd. 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
Stronger technical forecast for Metallurgical Corporation of China Ltd. stock price after Friday trading.
(Updated on Jun 07, 2024)
The Metallurgical Corporation of China Ltd. stock price gained 1.18% on the last trading day (Friday, 7th Jun 2024), rising from HK$1.70 to HK$1.72. During the last trading day the stock fluctuated 1.76% from a day low at HK$1.70 to a day high of HK$1.73. The price has been going up and down for this period, and there has been a 1.18% gain for the last 2 weeks. Volume fell on the last day by -3 million shares and in total, 6 million shares were bought and sold for approximately HK$10.52 million. 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 stock lies in the middle of a wide and weak 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 5.10% during the next 3 months and, with a 90% probability hold a price between HK$1.62 and HK$1.91 at the end of this 3-month period.
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1618.HK Signals & Forecast
The Metallurgical Corporation of China Ltd. 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$1.71 and HK$1.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 1.18%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Metallurgical Corporation of China Ltd. stock
Metallurgical Corporation of China Ltd. finds support from accumulated volume at HK$1.70 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$0.0300 between high and low, or 1.76%. For the last week, the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: HK$1.62 (-5.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (1618.HK) For The Upcoming Trading Day Of Tuesday 11th
For the upcoming trading day on Tuesday, 11th we expect Metallurgical Corporation of China Ltd. to open at HK$1.72, and during the day (based on 14 day Average True Range), to move between HK$1.67 and HK$1.77, which gives a possible trading interval of +/-HK$0.0520 (+/-3.02%) up or down from last closing price. If Metallurgical Corporation of China Ltd. takes out the full calculated possible swing range there will be an estimated 6.04% 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$1.73 (0.58%) than the support at HK$1.70 (1.16%), 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 Metallurgical Corporation of China Ltd. 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 Metallurgical Corporation of China Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.010 Buy Candidate Upgraded
Predicted Opening Price for Metallurgical Corporation of China Ltd. of Tuesday, June 11, 2024
| Fair opening price June 11, 2024 | Current price |
|---|---|
| HK$1.72 ( 0.194%) | HK$1.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1618.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.75 | 1.55% |
| R2 | 1.74 | 0.88% |
| R1 | 1.73 | 0.472% |
| Price | 1.72 | |
| S1 | 1.71 | -0.86% |
| S2 | 1.70 | -1.27% |
| S3 | 1.69 | -1.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.80 | 4.65% |
| R2 | 1.74 | 1.16% |
| R1 | 1.73 | 0.581% |
| Price | 1.72 | |
| S1 | 1.70 | -1.16% |
| S2 | 1.54 | -10.47% |
| S3 | 1.53 | -11.05% |
1618 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | HK$0.0908 | 4.78% |
| 2 | Jul 29, 2022 | Jul 29, 2022 | Jul 29, 2022 | HK$0.0914 | 5.57% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | HK$0.0902 | 4.04% |
| 4 | Jul 23, 2020 | Jul 23, 2020 | Jul 23, 2020 | HK$0.0788 | 5.75% |
| 5 | Jul 23, 2019 | Jul 23, 2019 | Jul 23, 2019 | HK$0.0797 | 4.09% |
FAQ
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