China Huarong Asset Management Co., 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
Red day on Wednesday for China Huarong Asset Management Co., Ltd. stock after losing 1.39%
(Updated on Jun 26, 2024)
The China Huarong Asset Management Co., Ltd. stock price fell by -1.39% on the last day (Wednesday, 26th Jun 2024) from HK$0.360 to HK$0.355. During the last trading day the stock fluctuated 1.41% from a day low at HK$0.355 to a day high of HK$0.360. The price has been going up and down for this period, and there has been a -5.33% loss for the last 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 -35 million shares and in total, 1 million shares were bought and sold for approximately HK$441.62 thousand.
Given the current short-term trend, the stock is expected to rise 29.69% during the next 3 months and, with a 90% probability hold a price between HK$0.460 and HK$0.524 at the end of this 3-month period.
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2799.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Huarong Asset Management Co., Ltd. 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$0.361 and HK$0.373. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -7.79%. 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 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 China Huarong Asset Management Co., Ltd. stock
China Huarong Asset Management Co., Ltd. finds support from accumulated volume at HK$0.350 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 controlled movements and therefore the general risk is considered 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$0.0050 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2799.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect China Huarong Asset Management Co., Ltd. to open at HK$0.357, and during the day (based on 14 day Average True Range), to move between HK$0.344 and HK$0.366, which gives a possible trading interval of +/-HK$0.0112 (+/-3.16%) up or down from last closing price. If China Huarong Asset Management Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.31% 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$0.350 (1.41%) than the resistance at HK$0.375 (5.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Huarong Asset Management Co., Ltd. stock A Buy?
The China Huarong Asset Management Co., Ltd. stock holds several negative signals and despite the positive trend, we believe China Huarong Asset Management Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.281 Sell Candidate Unchanged
Predicted Opening Price for China Huarong Asset Management Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.357 ( 0.469%) | HK$0.355 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2799.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.362 | 1.88% |
| R2 | 0.360 | 1.34% |
| R1 | 0.359 | 1.01% |
| Price | 0.355 | |
| S1 | 0.355 | -0.0685% |
| S2 | 0.354 | -0.401% |
| S3 | 0.352 | -0.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.385 | 8.45% |
| R2 | 0.380 | 7.04% |
| R1 | 0.375 | 5.63% |
| Price | 0.355 | |
| S1 | 0.350 | -1.41% |
| S2 | 0.330 | -7.04% |
| S3 | 0.290 | -18.31% |
2799 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 09, 2020 | Jul 03, 2020 | Aug 31, 2020 | HK$0.0110 | 1.24% |
| 2 | Mar 28, 2019 | Jun 25, 2019 | Aug 22, 2019 | HK$0.0121 | 1.06% |
| 3 | Mar 20, 2018 | Apr 11, 2018 | May 21, 2018 | HK$0.169 | 6.05% |
| 4 | Mar 15, 2017 | May 16, 2017 | Aug 25, 2017 | HK$0.170 | 5.05% |
FAQ
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