EuroEyes International Eye Clinic 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
Green day on Friday for EuroEyes International Eye Clinic Ltd
(Updated on May 03, 2024)
The EuroEyes International Eye Clinic Ltd stock price gained 3.23% on the last trading day (Friday, 3rd May 2024), rising from HK$5.58 to HK$5.76. It has now gained 5 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 4.31% from a day low at HK$5.57 to a day high of HK$5.81. The price has risen in 7 of the last 10 days and is up by 22.81% 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, 90 thousand more shares were traded than the day before. In total, 275 thousand shares were bought and sold for approximately HK$1.58 million.
Given the current horizontal trend, you can expect EuroEyes International Eye Clinic Ltd stock with a 90% probability to be traded between HK$4.36 and HK$5.75 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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1846.HK Signals & Forecast
Mostly positive signals in the chart today. The EuroEyes International Eye Clinic 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$5.21 and HK$4.75. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 31.51%. 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.
Support, Risk & Stop-loss for EuroEyes International Eye Clinic Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.70 and HK$4.65. 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, EuroEyes International Eye Clinic Ltd finds support just below today's level at HK$4.70. If this is broken, then the next support from accumulated volume will be at HK$4.65 and HK$4.56.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.240 between high and low, or 4.31%. For the last week, the stock has had daily average volatility of 3.82%.
The EuroEyes International Eye Clinic Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$5.56 (-3.49%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (1846.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect EuroEyes International Eye Clinic Ltd to open at HK$5.71, and during the day (based on 14 day Average True Range), to move between HK$5.62 and HK$5.90, which gives a possible trading interval of +/-HK$0.142 (+/-2.47%) up or down from last closing price. If EuroEyes International Eye Clinic Ltd takes out the full calculated possible swing range there will be an estimated 4.93% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$4.70, some HK$1.06 (18.40%) from the current price of HK$5.76, our system finds the risk reward attractive.
Is EuroEyes International Eye Clinic Ltd stock A Buy?
EuroEyes International Eye Clinic Ltd holds several positive signals and is considered to be a good choice at current levels. We expect the EuroEyes International Eye Clinic Ltd stock to perform great in the short-term period.
Current score: 5.746 Strong Buy Candidate Unchanged
Predicted Opening Price for EuroEyes International Eye Clinic Ltd of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$5.71 ( 0.81%) | HK$5.76 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1846.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.95 | 3.36 % | |
| R2 | 5.86 | 1.76 % | ||
| R1 | 5.81 | 0.781 % | ||
| Current price: | 5.76 | |||
| Support | S1 | 5.62 | -2.40 % | |
| S2 | 5.57 | -3.39 % | ||
| S3 | 5.47 | -4.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 5.76 | |||
| Support | S1 | 4.70 | -18.40% | |
| S2 | 4.65 | -19.27% | ||
| S3 | 4.56 | -20.83% |
1846 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0627 | 1.25% |
| 2 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | HK$0.0993 | 1.50% |
| 3 | May 25, 2021 | May 25, 2021 | May 25, 2021 | HK$0.0299 | 0.290% |
FAQ
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