BBMG Corporation 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
A very strong day for BBMG Corporation stock price on Friday
(Updated on May 17, 2024)
The BBMG Corporation stock price gained 7.25% on the last trading day (Friday, 17th May 2024), rising from HK$0.690 to HK$0.740. During the last trading day the stock fluctuated 7.25% from a day low at HK$0.690 to a day high of HK$0.740. The price has risen in 5 of the last 10 days and is up by 13.85% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 36 million shares were bought and sold for approximately HK$26.94 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. HK$0.680 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach HK$0.760 sometime during the next 3 months.
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2009.HK Signals & Forecast
The BBMG Corporation 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$0.664 and HK$0.635. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 19.35%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for BBMG Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.650 and HK$0.630. 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, BBMG Corporation finds support just below today's level at HK$0.650. If this is broken, then the next support from accumulated volume will be at HK$0.630 and HK$0.620.
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$0.0500 between high and low, or 7.25%. For the last week, the stock has had daily average volatility of 5.13%.
Our recommended stop-loss: HK$0.717 (-3.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (2009.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect BBMG Corporation to open at HK$0.723, and during the day (based on 14 day Average True Range), to move between HK$0.712 and HK$0.768, which gives a possible trading interval of +/-HK$0.0283 (+/-3.83%) up or down from last closing price. If BBMG Corporation takes out the full calculated possible swing range there will be an estimated 7.66% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.650, some HK$0.0900 (12.16%) from the current price of HK$0.740, our system finds the risk reward attractive.
Is BBMG Corporation stock A Buy?
BBMG Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for BBMG Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.723 ( 2.25%) | HK$0.740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2009.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.773 | 4.50 % | |
| R2 | 0.754 | 1.92 % | ||
| R1 | 0.742 | 0.329 % | ||
| Current price: | 0.740 | |||
| Support | S1 | 0.704 | -4.83 % | |
| S2 | 0.692 | -6.43 % | ||
| S3 | 0.673 | -9.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.740 | |||
| Support | S1 | 0.650 | -12.16% | |
| S2 | 0.630 | -14.86% | ||
| S3 | 0.620 | -16.22% |
2009 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Aug 05, 2024 | HK$0.0270 | 3.65% |
| 2 | May 18, 2023 | May 18, 2023 | May 18, 2023 | HK$0.0760 | 8.00% |
| 3 | May 19, 2022 | May 19, 2022 | May 19, 2022 | HK$0.123 | 10.64% |
| 4 | May 20, 2021 | May 20, 2021 | May 20, 2021 | HK$0.0722 | 4.69% |
| 5 | May 26, 2020 | May 26, 2020 | May 26, 2020 | HK$0.131 | 8.04% |
FAQ
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