Guorui Properties 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 Guorui Properties Limited stock price on Friday moving between HK$0.0440 and HK$0.0570
(Updated on May 03, 2024)
The Guorui Properties Limited stock price gained 7.69% on the last trading day (Friday, 3rd May 2024), rising from HK$0.0520 to HK$0.0560. It has now gained 4 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 29.55% from a day low at HK$0.0440 to a day high of HK$0.0570. The price has risen in 6 of the last 10 days and is up by 86.67% over the past 2 weeks. Volume fell on the last day by -656 thousand shares and in total, 969 thousand shares were bought and sold for approximately HK$54.26 thousand. 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 very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at HK$0.0464, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.0598 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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2329.HK Signals & Forecast
The Guorui Properties 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$0.0403 and HK$0.0337. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 11, 2024, and so far it has risen 124.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Guorui Properties Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0520. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved HK$0.0130 between high and low, or 29.55%. For the last week the stock has had daily average volatility of 25.34%.
The Guorui Properties Limited stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: HK$0.0544 (-2.80%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (2329.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Guorui Properties Limited to open at HK$0.0523, and during the day (based on 14 day Average True Range), to move between HK$0.0509 and HK$0.0611, which gives a possible trading interval of +/-HK$0.0051 (+/-9.19%) up or down from last closing price. If Guorui Properties Limited takes out the full calculated possible swing range there will be an estimated 18.37% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.0520, some HK$0.0040 (7.14%) from the current price of HK$0.0560, our system finds the risk reward attractive.
Is Guorui Properties Limited stock A Buy?
Guorui Properties 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 Guorui Properties Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
HK$0.0523 ( 6.55%) | HK$0.0560 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2329.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0653 | 16.67 % | |
R2 | 0.0604 | 7.80 % | ||
R1 | 0.0573 | 2.32 % | ||
Current price: | 0.0560 | |||
Support | S1 | 0.0474 | -15.42 % | |
S2 | 0.0443 | -20.89 % | ||
S3 | 0.0393 | -29.76 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 0.0560 | |||
Support | S1 | 0.0520 | -7.14% | |
S2 | 0 | . | ||
S3 | 0 | . |
2329 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 31, 2020 | Aug 12, 2020 | Aug 31, 2020 | HK$0.0376 | 3.27% |
2 | Mar 29, 2019 | May 30, 2019 | Jun 20, 2019 | HK$0.0564 | 3.97% |
3 | Mar 28, 2018 | May 31, 2018 | Jun 20, 2018 | HK$0.0807 | 3.12% |
4 | Aug 28, 2017 | Sep 14, 2017 | Sep 29, 2017 | HK$0.0752 | 2.82% |
5 | Mar 27, 2017 | May 31, 2017 | Jun 15, 2017 | HK$0.0604 | 2.45% |
FAQ
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