Sino Gas Holdings Group 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
Is Sino Gas Holdings Group Limited stock still a buy after falling -12.70% on Friday?
(Updated on Jun 28, 2024)
The Sino Gas Holdings Group Limited stock price fell by -12.70% on the last day (Friday, 28th Jun 2024) from HK$0.630 to HK$0.550. During the last trading day the stock fluctuated 0% from a day low at HK$0.550 to a day high of HK$0.550. The price has been going up and down for this period, and there has been a -17.91% 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 thousand shares and in total, 3 thousand shares were bought and sold for approximately HK$1.65 thousand.
Given the current short-term trend, the stock is expected to rise 33.27% during the next 3 months and, with a 90% probability hold a price between HK$0.733 and HK$1.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
1759.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Sino Gas Holdings Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.676 and HK$0.620. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -35.29%. 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. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sino Gas Holdings Group Limited stock
Sino Gas Holdings Group Limited finds support from accumulated volume at HK$0.530 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 6.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1759.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Sino Gas Holdings Group Limited to open at HK$0.550, and during the day (based on 14 day Average True Range), to move between HK$0.467 and HK$0.633, which gives a possible trading interval of +/-HK$0.0825 (+/-15.00%) up or down from last closing price. If Sino Gas Holdings Group Limited takes out the full calculated possible swing range there will be an estimated 30.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.530 (3.64%) than the resistance at HK$0.630 (14.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sino Gas Holdings Group Limited stock A Buy?
The Sino Gas Holdings Group Limited stock holds several negative signals and despite the positive trend, we believe Sino Gas Holdings Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.
Current score: -5.148 Strong Sell Candidate Downgraded
Predicted Opening Price for Sino Gas Holdings Group Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.550 ( 0%) | HK$0.550 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1759.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.550 | - |
| R2 | 0.550 | - |
| R1 | 0.550 | - |
| Price | 0.550 | |
| S1 | 0.550 | - |
| S2 | 0.550 | - |
| S3 | 0.550 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.670 | 21.82% |
| R2 | 0.660 | 20.00% |
| R1 | 0.630 | 14.55% |
| Price | 0.550 | |
| S1 | 0.530 | -3.64% |
| S2 | 0.500 | -9.09% |
| S3 | 0.440 | -20.00% |
FAQ
Click here for our free guide on how to buy Sino Gas Holdings Group Limited Stock.
