China Datang Corp Renewable Power Co., 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
China Datang Corp Renewable Power Co., stock price ended at HK$1.67 on Monday, after gaining 1.21%.
(Updated on Apr 29, 2024)
The China Datang Corp Renewable Power Co., stock price gained 1.21% on the last trading day (Monday, 29th Apr 2024), rising from HK$1.65 to HK$1.67. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.68% from a day low at HK$1.63 to a day high of HK$1.69. The price has risen in 5 of the last 10 days and is up by 2.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately HK$38.19 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.87% during the next 3 months and, with a 90% probability hold a price between HK$1.40 and HK$1.65 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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1798.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 7.05%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Datang Corp Renewable Power Co., stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$1.68. On a fall, the stock will find some support from the short-term average at HK$1.63. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for China Datang Corp Renewable Power Co., stock
China Datang Corp Renewable Power Co., finds support from accumulated volume at HK$1.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0600 (3.68%) between high and low. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: HK$1.58 (-5.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (1798.HK) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect China Datang Corporation Renewable Power Co., Limited to open at HK$1.66, and during the day (based on 14 day Average True Range), to move between HK$1.61 and HK$1.73, which gives a possible trading interval of +/-HK$0.0568 (+/-3.40%) up or down from last closing price. If China Datang Corporation Renewable Power Co., Limited takes out the full calculated possible swing range there will be an estimated 6.80% 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$1.68 (0.60%) than the support at HK$1.62 (2.99%), 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 China Datang Corporation Renewable Power Co., Limited stock A Buy?
China Datang Corp Renewable Power Co., 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.
Current score: 0.112 Hold/Accumulate Unchanged
Predicted Opening Price for China Datang Corporation Renewable Power Co., Limited of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
HK$1.66 ( 0.399%) | HK$1.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1798.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.72 | 3.19 % | |
R2 | 1.70 | 1.82 % | ||
R1 | 1.69 | 0.97 % | ||
Current price: | 1.67 | |||
Support | S1 | 1.64 | -1.77 % | |
S2 | 1.63 | -2.62 % | ||
S3 | 1.60 | -3.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.83 | 9.58 % | |
R2 | 1.70 | 1.80 % | ||
R1 | 1.68 | 0.599 % | ||
Current price | 1.67 | |||
Support | S1 | 1.62 | -2.99% | |
S2 | 1.61 | -3.59% | ||
S3 | 1.60 | -4.19% |
1798 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 06, 2023 | Jul 06, 2023 | Jul 06, 2023 | HK$0.0540 | 2.17% |
2 | Jul 07, 2022 | Jul 07, 2022 | Jul 07, 2022 | HK$0.0350 | 1.37% |
3 | Jul 07, 2021 | Jul 07, 2021 | Jul 07, 2021 | HK$0.0360 | 1.51% |
4 | Mar 30, 2020 | Jul 07, 2020 | Aug 28, 2020 | HK$0.0330 | 3.00% |
5 | Mar 27, 2019 | Jul 03, 2019 | Aug 20, 2019 | HK$0.0230 | 2.95% |
FAQ
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