Industrial Bank 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
Industrial Bank Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Industrial Bank Co., Ltd. stock price gained 0.289% on the last trading day (Friday, 21st Jun 2024), rising from $17.30 to $17.35. During the last trading day the stock fluctuated 1.75% from a day low at $17.12 to a day high of $17.42. The price has fallen in 6 of the last 10 days and is down by -1.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 49 million shares were bought and sold for approximately $845.62 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.32 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 14.07% during the next 3 months and, with a 90% probability hold a price between $19.75 and $21.67 at the end of this 3-month period.
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601166.SS Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Industrial Bank Co., Ltd. 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 $17.38 and $17.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -5.29%. 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). The stock had a Golden Star Signal on Thursday, April 25, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, April 25, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Industrial Bank Co., Ltd. stock
Industrial Bank Co., Ltd. finds support from accumulated volume at $16.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.300 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 1.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (601166.SS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Industrial Bank Co., Ltd. to open at $17.30, and during the day (based on 14 day Average True Range), to move between $17.04 and $17.66, which gives a possible trading interval of +/-$0.307 (+/-1.77%) up or down from last closing price. If Industrial Bank Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.38 (0.17%) than the support at $16.82 (3.05%), 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
Industrial Bank Co., Ltd. will release earnings BMO on Wednesday, June 26, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.93. We will update the financials statements for Industrial Bank Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.04% in the first trading day after earnings release.
Is Industrial Bank Co., Ltd. stock A Buy?
The Industrial Bank Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Industrial Bank Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.010 Sell Candidate Downgraded
Predicted Opening Price for Industrial Bank Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $17.30 ( 0.307%) | $17.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 601166.SS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.60 | 1.42% |
| R2 | 17.48 | 0.761% |
| R1 | 17.41 | 0.353% |
| Price | 17.35 | |
| S1 | 17.18 | -0.97% |
| S2 | 17.11 | -1.38% |
| S3 | 17.00 | -2.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.89 | 3.11% |
| R2 | 17.86 | 2.94% |
| R1 | 17.38 | 0.173% |
| Price | 17.35 | |
| S1 | 16.82 | -3.05% |
| S2 | 16.43 | -5.30% |
| S3 | 16.18 | -6.74% |
601166 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 19, 2023 | Jun 19, 2023 | Jun 19, 2023 | $1.19 | 7.52% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | $1.04 | 5.33% |
| 3 | Jun 29, 2021 | Jun 29, 2021 | Jun 29, 2021 | $0.80 | 4.08% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | $0.762 | 4.69% |
| 5 | Jun 19, 2019 | Jun 19, 2019 | Jun 19, 2019 | $0.690 | 3.81% |
FAQ
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