Tongda Hong Tai 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
Red day on Friday for Tongda Hong Tai Holdings Limited
(Updated on May 17, 2024)
No changes to the price of Tongda Hong Tai Holdings Limited stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.385 to a day high of HK$0.385. The price has been going up and down for this period, and there has been a -30% loss for the last 2 weeks.
Given the current short-term trend, the stock is expected to rise 456.23% during the next 3 months and, with a 90% probability hold a price between HK$2.14 and HK$4.70 at the end of this 3-month period.
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2363.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Tongda Hong Tai Holdings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.480 and HK$0.472. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 17, 2024, and so far it has fallen -36.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tongda Hong Tai Holdings Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0 between high and low, or 0%. For the last week the stock has had daily average volatility of 13.57%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2363.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Tongda Hong Tai Holdings Limited to open at HK$0.385, and during the day (based on 14 day Average True Range), to move between HK$0.357 and HK$0.413, which gives a possible trading interval of +/-HK$0.0277 (+/-7.19%) up or down from last closing price. If Tongda Hong Tai Holdings Limited takes out the full calculated possible swing range there will be an estimated 14.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.390, some HK$0.0050 (1.30%) from the current price of HK$0.385, our system finds the risk reward not very attractive.
Is Tongda Hong Tai Holdings Limited stock A Buy?
The Tongda Hong Tai Holdings Limited stock holds several negative signals and despite the positive trend, we believe Tongda Hong Tai Holdings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.375 Sell Candidate Unchanged
Predicted Opening Price for Tongda Hong Tai Holdings Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.385 ( 0%) | HK$0.385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2363.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.385 | . | |
| R2 | 0.385 | . | ||
| R1 | 0.385 | . | ||
| Current price: | 0.385 | |||
| Support | S1 | 0.385 | . | |
| S2 | 0.385 | . | ||
| S3 | 0.385 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.390 | 1.30 % | ||
| Current price | 0.385 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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