Modern Dental 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
Modern Dental Group Limited stock price ended at HK$4.56 on Friday, after losing 4.40%.
(Updated on May 31, 2024)
The Modern Dental Group Limited stock price fell by -4.40% on the last day (Friday, 31st May 2024) from HK$4.77 to HK$4.56. During the last trading day the stock fluctuated 6.95% from a day low at HK$4.46 to a day high of HK$4.77. The price has fallen in 6 of the last 10 days and is down by -13.31% for this period. Volume has increased on the last day by 1 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, 2 million shares were bought and sold for approximately HK$7.67 million.
Given the current short-term trend, the stock is expected to rise 32.06% during the next 3 months and, with a 90% probability hold a price between HK$6.02 and HK$7.51 at the end of this 3-month period.
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3600.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Modern Dental 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$4.76 and HK$4.94. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -15.24%. 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.
Support, Risk & Stop-loss for Modern Dental Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.17 and HK$4.04. 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, Modern Dental Group Limited finds support just below today's level at HK$4.17. If this is broken, then the next support from accumulated volume will be at HK$4.04 and HK$3.83.
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$0.310 between high and low, or 6.95%. For the last week, the stock has had daily average volatility of 4.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3600.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Modern Dental Group Limited to open at HK$4.60, and during the day (based on 14 day Average True Range), to move between HK$4.38 and HK$4.74, which gives a possible trading interval of +/-HK$0.184 (+/-4.05%) up or down from last closing price. If Modern Dental Group Limited takes out the full calculated possible swing range there will be an estimated 8.09% 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$4.79 (5.04%) than the support at HK$4.17 (8.55%), 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 Modern Dental Group Limited stock A Buy?
The Modern Dental Group Limited stock holds several negative signals and despite the positive trend, we believe Modern Dental Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.977 Sell Candidate Unchanged
Predicted Opening Price for Modern Dental Group Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$4.60 ( 0.80%) | HK$4.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3600.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.91 | 7.60 % | |
| R2 | 4.79 | 5.01 % | ||
| R1 | 4.72 | 3.40 % | ||
| Current price: | 4.56 | |||
| Support | S1 | 4.48 | -1.79 % | |
| S2 | 4.41 | -3.40 % | ||
| S3 | 4.29 | -5.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.26 | 15.35 % | |
| R2 | 5.09 | 11.62 % | ||
| R1 | 4.79 | 5.04 % | ||
| Current price | 4.56 | |||
| Support | S1 | 4.17 | -8.55% | |
| S2 | 4.04 | -11.40% | ||
| S3 | 3.83 | -16.01% |
3600 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 28, 2024 | HK$0.0900 | 1.97% |
| 2 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | HK$0.0440 | 1.83% |
| 3 | Sep 13, 2022 | Sep 13, 2022 | Sep 13, 2022 | HK$0.0370 | 1.57% |
| 4 | May 26, 2022 | May 26, 2022 | May 26, 2022 | HK$0.0440 | 1.67% |
| 5 | Sep 23, 2021 | Sep 23, 2021 | Sep 23, 2021 | HK$0.0750 | 0.94% |
FAQ
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