Able Engineering Holdings 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
Able Engineering Holdings Limited stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The Able Engineering Holdings Limited stock price gained 3.66% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.410 to HK$0.425. During the last trading day the stock fluctuated 4.82% from a day low at HK$0.415 to a day high of HK$0.435. The price has been going up and down for this period, and there has been a 6.25% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 144 thousand more shares were traded than the day before. In total, 144 thousand shares were bought and sold for approximately HK$61.20 thousand.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. HK$0.418 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$0.445 sometime during the next 3 months.
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1627.HK Signals & Forecast
The Able Engineering Holdings 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$0.402. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 6.25%. 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). Able Engineering Holdings 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Able Engineering Holdings Limited stock
Able Engineering Holdings Limited finds support from accumulated volume at HK$0.410 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$0.0200 between high and low, or 4.82%. For the last week the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: HK$0.409 (-3.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (1627.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Able Engineering Holdings Limited to open at HK$0.425, and during the day (based on 14 day Average True Range), to move between HK$0.418 and HK$0.432, which gives a possible trading interval of +/-HK$0.0065 (+/-1.54%) up or down from last closing price. If Able Engineering Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.410, some HK$0.0150 (3.53%) from the current price of HK$0.425, our system finds the risk reward attractive.
Is Able Engineering Holdings Limited stock A Buy?
Able Engineering Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Able Engineering Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.425 ( 0%) | HK$0.425 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1627.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.445 | 4.71% |
| R2 | 0.437 | 2.91% |
| R1 | 0.433 | 1.80% |
| Price | 0.425 | |
| S1 | 0.417 | -1.80% |
| S2 | 0.413 | -2.91% |
| S3 | 0.405 | -4.71% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 0.425 | |
| S1 | 0.410 | -3.53% |
| S2 | 0.400 | -5.88% |
| S3 | 0.390 | -8.24% |
1627 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 31, 2023 | Aug 31, 2023 | Sep 27, 2023 | HK$0.0500 | 12.99% |
| 2 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | HK$0.0350 | 9.86% |
| 3 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | HK$0.0250 | 6.41% |
| 4 | Jun 25, 2019 | Sep 05, 2019 | Sep 20, 2019 | HK$0.0400 | 8.79% |
| 5 | Jun 22, 2018 | Sep 06, 2018 | Sep 21, 2018 | HK$0.0500 | 9.26% |
FAQ
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