Lx Technology Group 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
Green day on Friday for Lx Technology Group Limited stock after gaining 0.612%
(Updated on Jun 28, 2024)
The Lx Technology Group Limited stock price gained 0.612% on the last trading day (Friday, 28th Jun 2024), rising from HK$4.90 to HK$4.93. During the last trading day the stock fluctuated 0% from a day low at HK$4.93 to a day high of HK$4.93. The price has been going up and down for this period, and there has been a 1.23% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$9.71 million.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$4.97 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Lx Technology Group Limited stock with a 90% probability to be traded between HK$4.74 and HK$4.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2436.HK Signals & Forecast
The Lx Technology Group 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$4.90 and HK$4.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 3.57%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Lx Technology Group Limited stock
Lx Technology Group Limited finds support from accumulated volume at HK$4.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. 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 0%.
Our recommended stop-loss: HK$4.66 (-5.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (2436.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Lx Technology Group Limited to open at HK$4.93, and during the day (based on 14 day Average True Range), to move between HK$4.88 and HK$4.98, which gives a possible trading interval of +/-HK$0.0479 (+/-0.97%) up or down from last closing price. If Lx Technology Group Limited takes out the full calculated possible swing range there will be an estimated 1.94% 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$4.90 (0.61%) than the resistance at HK$4.98 (1.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lx Technology Group Limited stock A Buy?
Lx Technology Group 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 Lx Technology Group Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$4.93 ( 0%) | HK$4.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2436.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.93 | - |
| R2 | 4.93 | - |
| R1 | 4.93 | - |
| Price | 4.93 | |
| S1 | 4.93 | - |
| S2 | 4.93 | - |
| S3 | 4.93 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 4.98 | 1.01% |
| Price | 4.93 | |
| S1 | 4.90 | -0.609% |
| S2 | 4.87 | -1.22% |
| S3 | 4.80 | -2.64% |
FAQ
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