Hengtong Optic-Electric Co., Ltd. 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
Hengtong Optic-Electric Co., Ltd. stock upgraded to Strong Buy Candidate.
(Updated on Jun 21, 2024)
The Hengtong Optic-Electric Co., Ltd. stock price gained 2.82% on the last trading day (Friday, 21st Jun 2024), rising from $15.27 to $15.70. During the last trading day the stock fluctuated 4.03% from a day low at $15.13 to a day high of $15.74. The price has risen in 7 of the last 10 days and is up by 7.24% 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, 8 million more shares were traded than the day before. In total, 47 million shares were bought and sold for approximately $742.91 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.12% during the next 3 months and, with a 90% probability hold a price between $18.34 and $21.37 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
600487.SS Signals & Forecast
Mostly positive signals in the chart today. The Hengtong Optic-Electric Co., Ltd. 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 $15.14 and $14.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 32.27%. 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 Hengtong Optic-Electric Co., Ltd. stock
Hengtong Optic-Electric Co., Ltd. finds support from accumulated volume at $15.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.610 (4.03%) between high and low. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: $15.10 (-3.80%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 66 days ago.)
Trading Expectations (600487.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Hengtong Optic-Electric Co., Ltd. to open at $15.52, and during the day (based on 14 day Average True Range), to move between $15.22 and $16.18, which gives a possible trading interval of +/-$0.480 (+/-3.06%) up or down from last closing price. If Hengtong Optic-Electric Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $15.45, some $0.250 (1.59%) from the current price of $15.70, our system finds the risk reward attractive.
Is Hengtong Optic-Electric Co., Ltd. stock A Buy?
Hengtong Optic-Electric Co., Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.597 Strong Buy Candidate Upgraded
Predicted Opening Price for Hengtong Optic-Electric Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $15.52 ( 1.13%) | $15.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 600487.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.13 | 2.76% |
| R2 | 15.90 | 1.28% |
| R1 | 15.76 | 0.359% |
| Price | 15.70 | |
| S1 | 15.29 | -2.61% |
| S2 | 15.15 | -3.53% |
| S3 | 14.91 | -5.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 15.70 | |
| S1 | 15.45 | -1.59% |
| S2 | 14.22 | -9.43% |
| S3 | 13.83 | -11.91% |
600487 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 07, 2023 | Jul 07, 2023 | Jul 07, 2023 | $0.0800 | 0.559% |
| 2 | Jul 08, 2022 | Jul 08, 2022 | Jul 08, 2022 | $0.0700 | 0.438% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | $0.0600 | 0.496% |
| 4 | Jun 29, 2020 | Jun 29, 2020 | Jun 29, 2020 | $0.0800 | 0.491% |
| 5 | Jun 11, 2019 | Jun 11, 2019 | Jun 11, 2019 | $0.150 | 0.95% |
FAQ
Click here for our free guide on how to buy Hengtong Optic-Electric Co., Ltd. Stock.
