Parkson Retail Group 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
A very strong day for Parkson Retail Group Limited stock price on Friday
(Updated on Jun 28, 2024)
The Parkson Retail Group Limited stock price gained 5.83% on the last trading day (Friday, 28th Jun 2024), rising from HK$0.103 to HK$0.109. During the last trading day the stock fluctuated 4.67% from a day low at HK$0.107 to a day high of HK$0.112. The price has fallen in 6 of the last 10 days and is down by -8.4% for this period. Volume fell on the last day by -1 million shares and in total, 116 thousand shares were bought and sold for approximately HK$12.59 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.24% during the next 3 months and, with a 90% probability hold a price between HK$0.0984 and HK$0.120 at the end of this 3-month period.
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3368.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 5.83%. Further rise is indicated until a new top pivot has been found. 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. The Parkson Retail Group Limited 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$0.109 and HK$0.117. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Parkson Retail Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.103. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.
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$0.0050 between high and low, or 4.67%. For the last week the stock has had daily average volatility of 8.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3368.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Parkson Retail Group Limited to open at HK$0.109, and during the day (based on 14 day Average True Range), to move between HK$0.101 and HK$0.117, which gives a possible trading interval of +/-HK$0.0078 (+/-7.14%) up or down from last closing price. If Parkson Retail Group Limited takes out the full calculated possible swing range there will be an estimated 14.29% 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$0.115 (5.50%) than the support at HK$0.103 (5.50%), 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 Parkson Retail Group Limited stock A Buy?
Parkson Retail Group Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.463 Sell Candidate Unchanged
Predicted Opening Price for Parkson Retail Group Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.109 ( 0.306%) | HK$0.109 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3368.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.114 | 4.89% |
| R2 | 0.112 | 3.14% |
| R1 | 0.111 | 2.06% |
| Price | 0.109 | |
| S1 | 0.107 | -1.45% |
| S2 | 0.106 | -2.53% |
| S3 | 0.104 | -4.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.122 | 11.93% |
| R2 | 0.116 | 6.42% |
| R1 | 0.115 | 5.50% |
| Price | 0.109 | |
| S1 | 0.103 | -5.50% |
| S2 | 0 | - |
| S3 | 0 | - |
3368 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 04, 2023 | Sep 04, 2023 | Sep 04, 2023 | HK$0.0109 | 8.13% |
| 2 | Sep 01, 2023 | Sep 01, 2023 | Sep 20, 2023 | HK$0.0117 | 9.17% |
| 3 | Nov 20, 2018 | Dec 03, 2018 | Dec 20, 2018 | HK$0.0342 | 5.99% |
| 4 | Feb 20, 2017 | Mar 03, 2017 | Mar 31, 2017 | HK$0.0225 | 2.32% |
| 5 | Feb 23, 2016 | May 25, 2016 | Jun 30, 2016 | HK$0.0118 | 1.73% |
FAQ
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