Wan Kei Group 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
Red day on Friday for Wan Kei Group Holdings Limited stock after losing 3.08%
(Updated on May 17, 2024)
The Wan Kei Group Holdings Limited stock price fell by -3.08% on the last day (Friday, 17th May 2024) from HK$0.650 to HK$0.630. During the last trading day the stock fluctuated 4.84% from a day low at HK$0.620 to a day high of HK$0.650. The price has fallen in 6 of the last 10 days and is down by -14.86% for this period. 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 -320 thousand shares and in total, 815 thousand shares were bought and sold for approximately HK$513.45 thousand.
Given the current short-term trend, the stock is expected to rise 6.28% during the next 3 months and, with a 90% probability hold a price between HK$0.670 and HK$3.05 at the end of this 3-month period.
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1718.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Wan Kei Group 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$0.670 and HK$1.48. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -77.66%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wan Kei Group Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0300 between high and low, or 4.84%. For the last week the stock has had daily average volatility of 5.24%.
Wan Kei Group Holdings Limited is oversold on RSI14 (4). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1718.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Wan Kei Group Holdings Limited to open at HK$0.633, and during the day (based on 14 day Average True Range), to move between HK$0.473 and HK$0.787, which gives a possible trading interval of +/-HK$0.157 (+/-24.89%) up or down from last closing price. If Wan Kei Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 49.78% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.700, some HK$0.0700 (11.11%) from the current price of HK$0.630, our system finds the risk reward not very attractive.
Is Wan Kei Group Holdings Limited stock A Buy?
The Wan Kei Group Holdings Limited stock holds several negative signals and despite the positive trend, we believe Wan Kei Group Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.143 Sell Candidate Unchanged
Predicted Opening Price for Wan Kei Group Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.633 ( 0.529%) | HK$0.630 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1718.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.663 | 5.29 % | |
| R2 | 0.652 | 3.47 % | ||
| R1 | 0.645 | 2.35 % | ||
| Current price: | 0.630 | |||
| Support | S1 | 0.622 | -1.29 % | |
| S2 | 0.615 | -2.41 % | ||
| S3 | 0.603 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.760 | 20.63 % | |
| R2 | 0.710 | 12.70 % | ||
| R1 | 0.700 | 11.11 % | ||
| Current price | 0.630 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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