Sino-Ocean Group Holding 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
Volatile ride for Sino-Ocean Group Holding Limited stock price on Friday moving between HK$0.325 and HK$0.445
(Updated on May 10, 2024)
The Sino-Ocean Group Holding Limited stock price gained 14.93% on the last trading day (Friday, 10th May 2024), rising from HK$0.335 to HK$0.385. During the last trading day the stock fluctuated 36.92% from a day low at HK$0.325 to a day high of HK$0.445. The price has risen in 6 of the last 10 days and is up by 48.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 432 million more shares were traded than the day before. In total, 593 million shares were bought and sold for approximately HK$228.23 million.
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$0.364, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.509 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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3377.HK Signals & Forecast
Mostly positive signals in the chart today. The Sino-Ocean Group Holding 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$0.351 and HK$0.291. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 26.23%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Sino-Ocean Group Holding Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.350 and HK$0.345. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sino-Ocean Group Holding Limited finds support just below today's level at HK$0.350. If this is broken, then the next support from accumulated volume will be at HK$0.345 and HK$0.335.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved HK$0.120 between high and low, or 36.92%. For the last week, the stock has had daily average volatility of 17.34%.
The Sino-Ocean Group Holding Limited stock is extremely overbought on RSI14 (77). 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$0.372 (-3.46%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (3377.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Sino-Ocean Group Holding Limited to open at HK$0.385, and during the day (based on 14 day Average True Range), to move between HK$0.347 and HK$0.423, which gives a possible trading interval of +/-HK$0.0380 (+/-9.86%) up or down from last closing price. If Sino-Ocean Group Holding Limited takes out the full calculated possible swing range there will be an estimated 19.73% 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$0.395 (2.60%) than the support at HK$0.350 (9.09%), 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 Sino-Ocean Group Holding Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.875 Buy Candidate Upgraded
Predicted Opening Price for Sino-Ocean Group Holding Limited of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
HK$0.385 ( 0%) | HK$0.385 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3377.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.505 | 31.17 % | |
R2 | 0.459 | 19.26 % | ||
R1 | 0.431 | 11.91 % | ||
Current price: | 0.385 | |||
Support | S1 | 0.339 | -11.91 % | |
S2 | 0.311 | -19.26 % | ||
S3 | 0.265 | -31.17 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0.395 | 2.60 % | ||
Current price | 0.385 | |||
Support | S1 | 0.350 | -9.09% | |
S2 | 0.345 | -10.39% | ||
S3 | 0.335 | -12.99% |
3377 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 24, 2022 | May 24, 2022 | May 24, 2022 | HK$0.0320 | 2.18% |
2 | Sep 02, 2021 | Sep 02, 2021 | Sep 02, 2021 | HK$0.0550 | 3.48% |
3 | May 25, 2021 | May 25, 2021 | May 25, 2021 | HK$0.0900 | 5.56% |
4 | Aug 31, 2020 | Aug 31, 2020 | Aug 31, 2020 | HK$0.0620 | 3.46% |
5 | Mar 24, 2020 | May 22, 2020 | Jul 09, 2020 | HK$0.0260 | 1.24% |
FAQ
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