Xinjiang Xinxin Mining Industry Co., 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 Xinjiang Xinxin Mining Industry Co., stock price after Friday trading.
(Updated on May 03, 2024)
The Xinjiang Xinxin Mining Industry Co., stock price fell by -0.93% on the last day (Friday, 3rd May 2024) from HK$1.07 to HK$1.06. During the last trading day the stock fluctuated 5.77% from a day low at HK$1.04 to a day high of HK$1.10. The price has fallen in 5 of the last 10 days and is down by -3.64% for this period. Volume has increased on the last day by 2 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, 5 million shares were bought and sold for approximately HK$4.87 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$1.02 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 54.22% during the next 3 months and, with a 90% probability hold a price between HK$1.58 and HK$1.93 at the end of this 3-month period.
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3833.HK Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -7.83%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Xinjiang Xinxin Mining Industry Co., 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$1.09. On a fall, the stock will find some support from the long-term average at approximately HK$1.01. 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.
Support, Risk & Stop-loss for Xinjiang Xinxin Mining Industry Co., stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.94 and HK$0.91. 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, Xinjiang Xinxin Mining Industry Co., finds support just below today's level at HK$0.94. If this is broken, then the next support from accumulated volume will be at HK$0.91 and HK$0.81.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved HK$0.0600 (5.77%) between high and low. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: HK$1.02 (-4.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (3833.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Xinjiang Xinxin Mining Industry Co., Ltd. to open at HK$1.07, and during the day (based on 14 day Average True Range), to move between HK$1.00 and HK$1.12, which gives a possible trading interval of +/-HK$0.0592 (+/-5.59%) up or down from last closing price. If Xinjiang Xinxin Mining Industry Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.18% 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$1.08 (1.89%) than the support at HK$0.94 (11.32%), 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 Xinjiang Xinxin Mining Industry Co., Ltd. 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: 2.549 Buy Candidate Upgraded
Predicted Opening Price for Xinjiang Xinxin Mining Industry Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$1.07 ( 0.629%) | HK$1.06 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3833.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.13 | 6.29 % | |
| R2 | 1.10 | 4.13 % | ||
| R1 | 1.09 | 2.79 % | ||
| Current price: | 1.06 | |||
| Support | S1 | 1.04 | -1.53 % | |
| S2 | 1.03 | -2.87 % | ||
| S3 | 1.01 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.12 | 5.66 % | |
| R2 | 1.09 | 2.83 % | ||
| R1 | 1.08 | 1.89 % | ||
| Current price | 1.06 | |||
| Support | S1 | 0.94 | -11.32% | |
| S2 | 0.91 | -14.15% | ||
| S3 | 0.81 | -23.58% |
3833 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jul 01, 2024 | HK$0.0540 | 5.15% |
| 2 | May 23, 2024 | May 23, 2024 | Jul 01, 2024 | HK$0.0541 | 5.16% |
| 3 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | HK$0.166 | 14.85% |
| 4 | Mar 16, 2012 | May 29, 2012 | Aug 31, 2012 | HK$0.0300 | 2.24% |
| 5 | Mar 18, 2011 | Apr 14, 2011 | Aug 31, 2011 | HK$0.150 | 4.78% |
FAQ
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