TK Group (Holdings) 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
Volatile ride for TK Group (Holdings) Limited stock price on Friday moving between HK$1.67 and HK$1.95
(Updated on May 03, 2024)
The TK Group (Holdings) Limited stock price gained 13.17% on the last trading day (Friday, 3rd May 2024), rising from HK$1.67 to HK$1.89. During the last trading day the stock fluctuated 16.77% from a day low at HK$1.67 to a day high of HK$1.95. The price has risen in 5 of the last 10 days and is up by 27.7% over the past 2 weeks. Volume fell on the last day by -9 million shares and in total, 3 million shares were bought and sold for approximately HK$5.22 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.
Given the current short-term trend, the stock is expected to rise 14.02% during the next 3 months and, with a 90% probability hold a price between HK$1.62 and HK$2.15 at the end of this 3-month period.
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2283.HK Signals & Forecast
The TK Group (Holdings) Limited 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$1.59 and HK$1.48. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 45.38%. 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 TK Group (Holdings) Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$1.67 and HK$1.52. 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, TK Group (Holdings) Limited finds support just below today's level at HK$1.67. If this is broken, then the next support from accumulated volume will be at HK$1.52 and HK$1.49.
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$0.280 between high and low, or 16.77%. For the last week, the stock has had daily average volatility of 6.92%.
The TK Group (Holdings) Limited 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. 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$1.84 (-2.66%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (2283.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect TK Group (Holdings) Limited to open at HK$1.84, and during the day (based on 14 day Average True Range), to move between HK$1.83 and HK$1.95, which gives a possible trading interval of +/-HK$0.0581 (+/-3.07%) up or down from last closing price. If TK Group (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.67, some HK$0.220 (11.64%) from the current price of HK$1.89, our system finds the risk reward attractive.
Is TK Group (Holdings) Limited stock A Buy?
TK Group (Holdings) Limited 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: 0.000 Hold/Accumulate Unchanged
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 TK Group (Holdings) Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$1.84 ( 2.82%) | HK$1.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2283.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.12 | 11.99 % | |
| R2 | 2.01 | 6.33 % | ||
| R1 | 1.94 | 2.84 % | ||
| Current price: | 1.89 | |||
| Support | S1 | 1.73 | -8.48 % | |
| S2 | 1.66 | -11.98 % | ||
| S3 | 1.56 | -17.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.89 | |||
| Support | S1 | 1.67 | -11.64% | |
| S2 | 1.52 | -19.58% | ||
| S3 | 1.49 | -21.16% |
2283 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | HK$0.175 | 9.21% |
| 2 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.0860 | 5.62% |
| 3 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | HK$0.0280 | 1.57% |
| 4 | Jun 02, 2022 | Jun 02, 2022 | Jun 02, 2022 | HK$0.0860 | 3.93% |
| 5 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | HK$0.0540 | 1.59% |
FAQ
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