IBO Technology Company 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
IBO Technology Company Limited stock price ended at HK$0.0640 on Thursday, after losing 0%.
(Updated on May 16, 2024)
No changes to the price of IBO Technology Company Limited stock on the last trading day (Thursday, 16th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0640 to a day high of HK$0.0640. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.0634, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.118 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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2708.HK Signals & Forecast
The IBO Technology Company 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$0.0640 and HK$0.0579. A breakdown below any of these levels will issue sell signals. 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, May 14, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Monday, March 25, 2024 and based on theory for this formation the price should fall by 0% to HK$0.0640 within 2 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for IBO Technology Company Limited stock
IBO Technology Company Limited finds support from accumulated volume at HK$0.0630 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the 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%
The IBO Technology Company Limited stock is extremely overbought on RSI14 (94). 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$0.0620 (-3.12%) (This stock has low daily movements and this gives low risk. The RSI14 is 94 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (2708.HK) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect IBO Technology Company Limited to open at HK$0.0640, and during the day (based on 14 day Average True Range), to move between HK$0.0588 and HK$0.0692, which gives a possible trading interval of +/-HK$0.0052 (+/-8.20%) up or down from last closing price. If IBO Technology Company Limited takes out the full calculated possible swing range there will be an estimated 16.40% 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$0.0630 (1.56%) than the resistance at HK$0.0690 (7.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is IBO Technology Company Limited stock A Buy?
IBO Technology Company 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 IBO Technology Company Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| HK$0.0640 ( 0%) | HK$0.0640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2708.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0640 | . | |
| R2 | 0.0640 | . | ||
| R1 | 0.0640 | . | ||
| Current price: | 0.0640 | |||
| Support | S1 | 0.0640 | . | |
| S2 | 0.0640 | . | ||
| S3 | 0.0640 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0770 | 20.31 % | |
| R2 | 0.0720 | 12.50 % | ||
| R1 | 0.0690 | 7.81 % | ||
| Current price | 0.0640 | |||
| Support | S1 | 0.0630 | -1.56% | |
| S2 | 0.0580 | -9.38% | ||
| S3 | 0 | . |
FAQ
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