Beijing Tong Ren Tang Chinese Medicine 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
Stronger technical forecast for Beijing Tong Ren Tang Chinese Medicine stock price after Friday trading.
(Updated on May 31, 2024)
The Beijing Tong Ren Tang Chinese Medicine stock price gained 0.631% on the last trading day (Friday, 31st May 2024), rising from HK$9.51 to HK$9.57. During the last trading day the stock fluctuated 3.27% from a day low at HK$9.48 to a day high of HK$9.79. The price has fallen in 7 of the last 10 days and is down by -7.09% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 894 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately HK$16.13 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$9.52 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.41% during the next 3 months and, with a 90% probability hold a price between HK$10.23 and HK$11.43 at the end of this 3-month period.
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3613.HK Signals & Forecast
The Beijing Tong Ren Tang Chinese Medicine stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$9.66 and HK$9.61. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.631%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Beijing Tong Ren Tang Chinese Medicine stock
Beijing Tong Ren Tang Chinese Medicine finds support from accumulated volume at HK$9.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 3.27%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: HK$8.98 (-6.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (3613.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Beijing Tong Ren Tang Chinese Medicine Company Limited to open at HK$9.61, and during the day (based on 14 day Average True Range), to move between HK$9.27 and HK$9.87, which gives a possible trading interval of +/-HK$0.304 (+/-3.18%) up or down from last closing price. If Beijing Tong Ren Tang Chinese Medicine Company Limited takes out the full calculated possible swing range there will be an estimated 6.36% 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$9.60 (0.31%) than the support at HK$9.49 (0.84%), 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
Beijing Tong Ren Tang Chinese Medicine Company Limited will release earnings BMO on Friday, June 07, 2024. We will update the financials statements for Beijing Tong Ren Tang Chinese Medicine Company Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.54% in the first trading day after earnings release.
Is Beijing Tong Ren Tang Chinese Medicine Company Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.445 Buy Candidate Upgraded
Predicted Opening Price for Beijing Tong Ren Tang Chinese Medicine Company Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$9.61 ( 0.453%) | HK$9.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3613.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.92 | 3.69 % | |
| R2 | 9.80 | 2.45 % | ||
| R1 | 9.73 | 1.69 % | ||
| Current price: | 9.57 | |||
| Support | S1 | 9.49 | -0.785 % | |
| S2 | 9.42 | -1.55 % | ||
| S3 | 9.30 | -2.79 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.48 | 9.51 % | |
| R2 | 9.75 | 1.88 % | ||
| R1 | 9.60 | 0.313 % | ||
| Current price | 9.57 | |||
| Support | S1 | 9.49 | -0.84% | |
| S2 | 9.41 | -1.67% | ||
| S3 | 9.26 | -3.24% |
3613 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 17, 2024 | HK$0.330 | 3.45% |
| 2 | May 10, 2023 | May 10, 2023 | May 10, 2023 | HK$0.330 | 2.05% |
| 3 | Oct 06, 2022 | Oct 06, 2022 | Oct 06, 2022 | HK$0.250 | 2.84% |
| 4 | Jun 14, 2022 | Jun 14, 2022 | Jun 14, 2022 | HK$0.280 | 2.58% |
| 5 | Jun 01, 2021 | Jun 01, 2021 | Jun 01, 2021 | HK$0.240 | 1.83% |
FAQ
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