CIMC Vehicles Group Co Ltd 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
Stronger technical forecast for CIMC Vehicles Group Co Ltd stock price after Friday trading.
(Updated on May 03, 2024)
The CIMC Vehicles Group Co Ltd stock price gained 1.78% on the last trading day (Friday, 3rd May 2024), rising from HK$7.32 to HK$7.45. During the last trading day the stock fluctuated 0.268% from a day low at HK$7.45 to a day high of HK$7.47. The price has risen in 4 of the last 10 days and is up by 0.68% 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, 328 thousand more shares were traded than the day before. In total, 345 thousand shares were bought and sold for approximately HK$2.57 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.89% during the next 3 months and, with a 90% probability hold a price between HK$8.06 and HK$8.47 at the end of this 3-month period.
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1839.HK Signals & Forecast
The CIMC Vehicles Group Co Ltd 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$7.39 and HK$7.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.78%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, February 23, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for CIMC Vehicles Group Co Ltd stock
CIMC Vehicles Group Co Ltd finds support from accumulated volume at HK$7.32 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 0.268%. For the last week the stock has had daily average volatility of 1.10%.
Our recommended stop-loss: HK$7.07 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (1839.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect CIMC Vehicles Group Co Ltd to open at HK$7.46, and during the day (based on 14 day Average True Range), to move between HK$7.39 and HK$7.51, which gives a possible trading interval of +/-HK$0.0635 (+/-0.85%) up or down from last closing price. If CIMC Vehicles Group Co Ltd takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$7.32, some HK$0.130 (1.74%) from the current price of HK$7.45, our system finds the risk reward attractive.
Is CIMC Vehicles Group Co Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CIMC Vehicles Group Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.378 Buy Candidate Upgraded
Predicted Opening Price for CIMC Vehicles Group Co Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$7.46 ( 0.0895%) | HK$7.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1839.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.48 | 0.358 % | |
| R2 | 7.47 | 0.255 % | ||
| R1 | 7.46 | 0.192 % | ||
| Current price: | 7.45 | |||
| Support | S1 | 7.45 | -0.0131 % | |
| S2 | 7.44 | -0.0764 % | ||
| S3 | 7.44 | -0.179 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7.45 | |||
| Support | S1 | 7.32 | -1.74% | |
| S2 | 7.29 | -2.15% | ||
| S3 | 7.28 | -2.28% |
1839 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2023 | May 30, 2023 | May 30, 2023 | HK$0.333 | 5.50% |
| 2 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | HK$0.235 | 4.22% |
| 3 | Oct 04, 2021 | Oct 04, 2021 | Oct 04, 2021 | HK$0.360 | 5.85% |
| 4 | Mar 25, 2020 | Jun 24, 2020 | Jul 30, 2020 | HK$0.494 | 7.57% |
FAQ
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