Beijing Ubox Online Tech Corp 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:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
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
Beijing Ubox Online Tech Corp stock price ended at HK$14.10 on Friday, after gaining 1.15%.
(Updated on Jun 28, 2024)
The Beijing Ubox Online Tech Corp stock price gained 1.15% on the last trading day (Friday, 28th Jun 2024), rising from HK$13.94 to HK$14.10. During the last trading day the stock fluctuated 5.17% from a day low at HK$13.54 to a day high of HK$14.24. The price has fallen in 6 of the last 10 days and is down by -16.47% for this period. Volume fell on the last day by -546 thousand shares and in total, 210 thousand shares were bought and sold for approximately HK$2.96 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$14.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.90% during the next 3 months and, with a 90% probability hold a price between HK$15.59 and HK$31.11 at the end of this 3-month period.
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2429.HK Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Beijing Ubox Online Tech Corp 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$15.60 and HK$15.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -48.26%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Beijing Ubox Online Tech Corp stock
Beijing Ubox Online Tech Corp finds support from accumulated volume at HK$13.94 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$0.700 between high and low, or 5.17%. For the last week, the stock has had daily average volatility of 9.78%.
Our recommended stop-loss: HK$13.33 (-5.48%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (2429.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Beijing Ubox Online Tech Corp to open at HK$13.96, and during the day (based on 14 day Average True Range), to move between HK$11.77 and HK$16.43, which gives a possible trading interval of +/-HK$2.33 (+/-16.50%) up or down from last closing price. If Beijing Ubox Online Tech Corp takes out the full calculated possible swing range there will be an estimated 32.99% 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$13.94 (1.13%) than the resistance at HK$15.08 (6.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Beijing Ubox Online Tech Corp stock A Buy?
Beijing Ubox Online Tech Corp holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.877 Hold/Accumulate Unchanged
Predicted Opening Price for Beijing Ubox Online Tech Corp of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$13.96 ( 0.99%) | HK$14.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2429.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.66 | 3.97% |
R2 | 14.39 | 2.08% |
R1 | 14.23 | 0.90% |
Price | 14.10 | |
S1 | 13.69 | -2.89% |
S2 | 13.53 | -4.06% |
S3 | 13.26 | -5.96% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 16.94 | 20.14% |
R2 | 15.64 | 10.92% |
R1 | 15.08 | 6.95% |
Price | 14.10 | |
S1 | 13.94 | -1.13% |
S2 | 13.90 | -1.42% |
S3 | 13.56 | -3.83% |
FAQ
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