Shanghai Electric Group 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
Shanghai Electric Group Company Limited stock upgraded to Buy Candidate.
(Updated on May 16, 2024)
The Shanghai Electric Group Company Limited stock price fell by -1.20% on the last day (Thursday, 16th May 2024) from HK$1.66 to HK$1.64. During the last trading day the stock fluctuated 2.44% from a day low at HK$1.64 to a day high of HK$1.68. The price has fallen in 5 of the last 10 days but is still up by 2.5% over the past 2 weeks. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately HK$14.30 million.
The stock lies in the middle of a 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 7.72% during the next 3 months and, with a 90% probability hold a price between HK$1.62 and HK$1.89 at the end of this 3-month period.
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2727.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -1.80%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Shanghai Electric Group 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$1.62 and HK$1.60. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Shanghai Electric Group Company Limited stock
Shanghai Electric Group Company Limited finds support from accumulated volume at HK$1.60 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0400 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: HK$1.58 (-3.71%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (2727.HK) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Shanghai Electric Group Company Limited to open at HK$1.65, and during the day (based on 14 day Average True Range), to move between HK$1.58 and HK$1.70, which gives a possible trading interval of +/-HK$0.0580 (+/-3.54%) up or down from last closing price. If Shanghai Electric Group Company Limited takes out the full calculated possible swing range there will be an estimated 7.07% 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$1.66 (1.22%) than the support at HK$1.60 (2.44%), 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 Shanghai Electric Group Company Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Shanghai Electric Group Company Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.386 Buy Candidate Upgraded
Predicted Opening Price for Shanghai Electric Group Company Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| HK$1.65 ( 0.81%) | HK$1.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2727.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.69 | 3.25 % | |
| R2 | 1.68 | 2.32 % | ||
| R1 | 1.67 | 1.74 % | ||
| Current price: | 1.64 | |||
| Support | S1 | 1.64 | -0.119 % | |
| S2 | 1.63 | -0.694 % | ||
| S3 | 1.61 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.73 | 5.49 % | |
| R2 | 1.70 | 3.66 % | ||
| R1 | 1.66 | 1.22 % | ||
| Current price | 1.64 | |||
| Support | S1 | 1.60 | -2.44% | |
| S2 | 1.58 | -3.66% | ||
| S3 | 1.57 | -4.27% |
2727 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | HK$0.0862 | 4.56% |
| 2 | Jun 21, 2019 | Jun 21, 2019 | Jun 21, 2019 | HK$0.0699 | 2.50% |
| 3 | Jul 17, 2018 | Jul 17, 2018 | Jul 17, 2018 | HK$0.110 | 4.28% |
| 4 | Jul 10, 2018 | Jul 10, 2018 | Jul 10, 2018 | HK$0.110 | 4.17% |
| 5 | May 12, 2015 | May 12, 2015 | May 12, 2015 | HK$0.0587 | 0.730% |
FAQ
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