Wealthy Way 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
Red day on Friday for Wealthy Way Group Limited
(Updated on May 17, 2024)
The Wealthy Way Group Limited stock price fell by -1.82% on the last day (Friday, 17th May 2024) from HK$2.75 to HK$2.70. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 7.09% from a day low at HK$2.68 to a day high of HK$2.87. The price has fallen in 4 of the last 10 days and is down by -1.1% for this period. Volume has increased on the last day by 29 thousand 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, 126 thousand shares were bought and sold for approximately HK$340.20 thousand.
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$2.41, a level that may pose a second chance to hit a runner. According to fan-theory HK$6.54 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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3848.HK Signals & Forecast
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 Wealthy Way 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$2.83 and HK$3.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -21.05%. Further fall is indicated until a new bottom pivot has been found. Wealthy Way Group Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Wealthy Way Group Limited stock
Wealthy Way Group Limited finds support from accumulated volume at HK$2.67 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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$0.190 between high and low, or 7.09%. For the last week, the stock has had daily average volatility of 4.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3848.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Wealthy Way Group Limited to open at HK$2.75, and during the day (based on 14 day Average True Range), to move between HK$2.37 and HK$3.03, which gives a possible trading interval of +/-HK$0.328 (+/-12.15%) up or down from last closing price. If Wealthy Way Group Limited takes out the full calculated possible swing range there will be an estimated 24.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$2.67 (1.11%) than the resistance at HK$2.82 (4.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wealthy Way Group Limited stock A Buy?
Wealthy Way Group Limited holds several negative signals and is within a very 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: -7.672 Strong Sell Candidate Unchanged
Predicted Opening Price for Wealthy Way Group Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$2.75 ( 1.85%) | HK$2.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3848.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.94 | 8.89 % | |
| R2 | 2.87 | 6.20 % | ||
| R1 | 2.82 | 4.54 % | ||
| Current price: | 2.70 | |||
| Support | S1 | 2.68 | -0.84 % | |
| S2 | 2.63 | -2.50 % | ||
| S3 | 2.56 | -5.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.07 | 13.70 % | |
| R2 | 2.90 | 7.41 % | ||
| R1 | 2.82 | 4.44 % | ||
| Current price | 2.70 | |||
| Support | S1 | 2.67 | -1.11% | |
| S2 | 2.29 | -15.19% | ||
| S3 | 2.28 | -15.56% |
3848 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 03, 2024 | Jun 03, 2024 | HK$0 | 0% |
| 2 | Jul 04, 2023 | Jul 04, 2023 | Jul 04, 2023 | HK$0.0300 | 0.493% |
| 3 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | HK$0.0300 | 0.498% |
| 4 | Mar 30, 2020 | Jun 30, 2020 | Jul 17, 2020 | HK$0.0500 | 0.685% |
| 5 | May 29, 2020 | May 29, 2020 | May 29, 2020 | HK$0.0500 | 0.756% |
FAQ
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