Solomon Systech (International) 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
Solomon Systech (International) Limited stock price down 1.39% on Friday
(Updated on Jun 14, 2024)
The Solomon Systech (International) Limited stock price fell by -1.39% on the last day (Friday, 14th Jun 2024) from HK$0.360 to HK$0.355. During the last trading day the stock fluctuated 4.35% from a day low at HK$0.345 to a day high of HK$0.360. The price has fallen in 6 of the last 10 days and is down by -1.39% for this period. 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 -712 thousand shares and in total, 3 million shares were bought and sold for approximately HK$1.06 million.
The stock lies in the middle of a very wide and strong 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 20.94% during the next 3 months and, with a 90% probability hold a price between HK$0.345 and HK$0.460 at the end of this 3-month period.
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2878.HK Signals & Forecast
The Solomon Systech (International) Limited 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$0.359. On a fall, the stock will find some support from the long-term average at approximately HK$0.310. 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 Thursday, June 06, 2024, and so far it has fallen -5.33%. 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 Solomon Systech (International) Limited stock
Solomon Systech (International) Limited 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.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0150 between high and low, or 4.35%. For the last week the stock has had daily average volatility of 5.43%.
Our recommended stop-loss: HK$0.340 (-4.24%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (2878.HK) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Solomon Systech (International) Limited to open at HK$0.353, and during the day (based on 14 day Average True Range), to move between HK$0.333 and HK$0.377, which gives a possible trading interval of +/-HK$0.0219 (+/-6.16%) up or down from last closing price. If Solomon Systech (International) Limited takes out the full calculated possible swing range there will be an estimated 12.31% 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$0.360 (1.41%) than the support at HK$0.350 (1.41%), 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.
Earnings coming up
Solomon Systech (International) Limited will release earnings BMO on Thursday, June 20, 2024. We will update the financials statements for Solomon Systech (International) Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.40% in the first trading day after earnings release.
Is Solomon Systech (International) 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 Solomon Systech (International) Limited stock to perform well in the short-term.
Current score: 2.428 Buy Candidate Unchanged
Predicted Opening Price for Solomon Systech (International) Limited of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| HK$0.353 ( 0.469%) | HK$0.355 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2878.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.368 | 3.76% |
| R2 | 0.363 | 2.14% |
| R1 | 0.359 | 1.14% |
| Price | 0.355 | |
| S1 | 0.348 | -2.08% |
| S2 | 0.344 | -3.08% |
| S3 | 0.338 | -4.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.375 | 5.63% |
| R2 | 0.365 | 2.82% |
| R1 | 0.360 | 1.41% |
| Price | 0.355 | |
| S1 | 0.350 | -1.41% |
| S2 | 0.345 | -2.82% |
| S3 | 0.310 | -12.68% |
2878 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 06, 2022 | Jul 06, 2022 | Jul 06, 2022 | HK$0.0100 | 1.85% |
| 2 | Jun 07, 2021 | Jun 07, 2021 | Jun 07, 2021 | HK$0.0080 | 0.99% |
| 3 | Apr 20, 2010 | Jun 01, 2010 | Jun 01, 2010 | HK$0.0100 | 1.59% |
| 4 | Mar 25, 2009 | May 05, 2009 | May 20, 2009 | HK$0.0300 | 8.22% |
| 5 | Mar 27, 2008 | Apr 29, 2008 | May 22, 2008 | HK$0.0200 | 4.35% |
FAQ
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