Zhaobangji Properties 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
Zhaobangji Properties Holdings Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 31, 2024)
The Zhaobangji Properties Holdings Limited stock price fell by -2.42% on the last day (Friday, 31st May 2024) from HK$0.207 to HK$0.202. During the last trading day the stock fluctuated 7.54% from a day low at HK$0.199 to a day high of HK$0.214. The price has been going up and down for this period, and there has been a -3.35% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 million shares and in total, 6 million shares were bought and sold for approximately HK$1.18 million.
Given the current short-term trend, the stock is expected to rise 15.58% during the next 3 months and, with a 90% probability hold a price between HK$0.233 and HK$0.344 at the end of this 3-month period.
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1660.HK Signals & Forecast
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. The Zhaobangji Properties Holdings Limited 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$0.210 and HK$0.216. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -26.55%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Zhaobangji Properties Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.187 and HK$0.183. 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, Zhaobangji Properties Holdings Limited finds support just below today's level at HK$0.187. If this is broken, then the next support from accumulated volume will be at HK$0.183 and HK$0.180.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0150 between high and low, or 7.54%. For the last week the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: HK$0.190 (-6.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 75 days ago.)
Trading Expectations (1660.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Zhaobangji Properties Holdings Limited to open at HK$0.205, and during the day (based on 14 day Average True Range), to move between HK$0.184 and HK$0.220, which gives a possible trading interval of +/-HK$0.0177 (+/-8.74%) up or down from last closing price. If Zhaobangji Properties Holdings Limited takes out the full calculated possible swing range there will be an estimated 17.48% 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$0.208 (2.97%) than the support at HK$0.187 (7.43%), 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 Zhaobangji Properties Holdings Limited stock A Buy?
Zhaobangji Properties Holdings Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.025 Hold/Accumulate Upgraded
Predicted Opening Price for Zhaobangji Properties Holdings Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$0.205 ( 1.49%) | HK$0.202 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1660.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.220 | 8.91 % | |
| R2 | 0.214 | 6.07 % | ||
| R1 | 0.211 | 4.32 % | ||
| Current price: | 0.202 | |||
| Support | S1 | 0.199 | -1.35 % | |
| S2 | 0.196 | -3.10 % | ||
| S3 | 0.190 | -5.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.213 | 5.45 % | |
| R2 | 0.209 | 3.47 % | ||
| R1 | 0.208 | 2.97 % | ||
| Current price | 0.202 | |||
| Support | S1 | 0.187 | -7.43% | |
| S2 | 0.183 | -9.41% | ||
| S3 | 0.180 | -10.89% |
FAQ
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