Hua Medicine (Shanghai) Ltd. 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
Hua Medicine (Shanghai) Ltd. stock price ended at HK$1.61 on Thursday, after losing 3.01%.
(Updated on Jun 20, 2024)
The Hua Medicine (Shanghai) Ltd. stock price fell by -3.01% on the last day (Thursday, 20th Jun 2024) from HK$1.66 to HK$1.61. During the last trading day the stock fluctuated 5.73% from a day low at HK$1.57 to a day high of HK$1.66. The price has risen in 6 of the last 10 days and is up by 6.62% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -547 thousand shares and in total, 560 thousand shares were bought and sold for approximately HK$900.80 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.46% during the next 3 months and, with a 90% probability hold a price between HK$1.40 and HK$1.80 at the end of this 3-month period.
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2552.HK Signals & Forecast
The Hua Medicine (Shanghai) Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$1.61. On a fall, the stock will find some support from the long-term average at approximately HK$1.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -7.47%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Hua Medicine (Shanghai) Ltd. stock
Hua Medicine (Shanghai) Ltd. finds support from accumulated volume at HK$1.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0900 between high and low, or 5.73%. For the last week the stock has had daily average volatility of 8.61%.
Our recommended stop-loss: HK$1.54 (-4.23%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (2552.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Hua Medicine (Shanghai) Ltd. to open at HK$1.61, and during the day (based on 14 day Average True Range), to move between HK$1.52 and HK$1.70, which gives a possible trading interval of +/-HK$0.0927 (+/-5.76%) up or down from last closing price. If Hua Medicine (Shanghai) Ltd. takes out the full calculated possible swing range there will be an estimated 11.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$1.62 (0.62%) than the support at HK$1.58 (1.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Hua Medicine (Shanghai) Ltd. stock A Buy?
Hua Medicine (Shanghai) Ltd. 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: 0.975 Hold/Accumulate Unchanged
Predicted Opening Price for Hua Medicine (Shanghai) Ltd. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$1.61 ( 0.207%) | HK$1.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2552.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.70 | 5.80% |
| R2 | 1.67 | 3.66% |
| R1 | 1.65 | 2.34% |
| Price | 1.61 | |
| S1 | 1.58 | -1.93% |
| S2 | 1.56 | -3.25% |
| S3 | 1.52 | -5.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.72 | 6.83% |
| R2 | 1.66 | 3.11% |
| R1 | 1.62 | 0.621% |
| Price | 1.61 | |
| S1 | 1.58 | -1.86% |
| S2 | 1.57 | -2.48% |
| S3 | 1.45 | -9.94% |
FAQ
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