Bonny International Holding 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
Bonny International Holding Limited stock price fell more than -5.71% Tuesday closing at HK$0.330
(Updated on Jul 02, 2024)
The Bonny International Holding Limited stock price fell by -5.71% on the last day (Tuesday, 2nd Jul 2024) from HK$0.350 to HK$0.330. During the last trading day the stock fluctuated 4.55% from a day low at HK$0.330 to a day high of HK$0.345. The price has fallen in 5 of the last 10 days and is down by -24.14% for this period. Volume has increased on the last day by 595 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately HK$1.39 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at HK$0.306 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Bonny International Holding Limited stock with a 90% probability to be traded between HK$0.311 and HK$0.542 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.
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1906.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 8.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bonny International Holding 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$0.335 and HK$0.439. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bonny International Holding Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Bonny International Holding Limited stock
Bonny International Holding Limited finds support from accumulated volume at HK$0.320 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0150 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 7.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1906.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Bonny International Holding Limited to open at HK$0.335, and during the day (based on 14 day Average True Range), to move between HK$0.288 and HK$0.372, which gives a possible trading interval of +/-HK$0.0419 (+/-12.71%) up or down from last closing price. If Bonny International Holding Limited takes out the full calculated possible swing range there will be an estimated 25.42% 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$0.320 (3.03%) than the resistance at HK$0.345 (4.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bonny International Holding Limited stock A Buy?
Bonny International Holding Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.147 Sell Candidate Unchanged
Predicted Opening Price for Bonny International Holding Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.335 ( 1.52%) | HK$0.330 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1906.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.350 | 6.06% |
| R2 | 0.344 | 4.32% |
| R1 | 0.341 | 3.25% |
| Price | 0.330 | |
| S1 | 0.329 | -0.221% |
| S2 | 0.326 | -1.29% |
| S3 | 0.320 | -3.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.405 | 22.73% |
| R2 | 0.395 | 19.70% |
| R1 | 0.345 | 4.55% |
| Price | 0.330 | |
| S1 | 0.320 | -3.03% |
| S2 | 0.305 | -7.58% |
| S3 | 0 | - |
FAQ
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