Sheng Ye Capital 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
Green day on Thursday for Sheng Ye Capital Ltd stock after gaining 2.66%
(Updated on May 02, 2024)
The Sheng Ye Capital Ltd stock price gained 2.66% on the last trading day (Thursday, 2nd May 2024), rising from HK$4.51 to HK$4.63. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.58% from a day low at HK$4.47 to a day high of HK$4.63. The price has risen in 8 of the last 10 days and is up by 10.77% over the past 2 weeks. Volume fell on the last day by -136 thousand shares and in total, 1 million shares were bought and sold for approximately HK$5.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -3.54% during the next 3 months and, with a 90% probability hold a price between HK$3.85 and HK$4.47 at the end of this 3-month period. 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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6069.HK Signals & Forecast
Mostly positive signals in the chart today. The Sheng Ye Capital 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 HK$4.39 and HK$4.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 13.76%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Sheng Ye Capital Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$4.29 and HK$4.21. 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, Sheng Ye Capital Ltd finds support just below today's level at HK$4.29. If this is broken, then the next support from accumulated volume will be at HK$4.21 and HK$4.18.
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$0.160 (3.58%) between high and low. For the last week, the stock has had daily average volatility of 3.49%.
Since the Sheng Ye Capital Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: HK$4.47 (-3.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (6069.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Sheng Ye Capital Ltd to open at HK$4.58, and during the day (based on 14 day Average True Range), to move between HK$4.47 and HK$4.79, which gives a possible trading interval of +/-HK$0.159 (+/-3.43%) up or down from last closing price. If Sheng Ye Capital Ltd takes out the full calculated possible swing range there will be an estimated 6.87% 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$4.69 (1.30%) than the support at HK$4.29 (7.34%), 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 Sheng Ye Capital Ltd stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.168 Buy Candidate Unchanged
Predicted Opening Price for Sheng Ye Capital Ltd of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$4.58 ( 1.15%) | HK$4.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6069.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.74 | 2.30 % | |
| R2 | 4.68 | 0.98 % | ||
| R1 | 4.64 | 0.168 % | ||
| Current price: | 4.63 | |||
| Support | S1 | 4.52 | -2.47 % | |
| S2 | 4.48 | -3.29 % | ||
| S3 | 4.42 | -4.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 4.69 | 1.30 % | ||
| Current price | 4.63 | |||
| Support | S1 | 4.29 | -7.34% | |
| S2 | 4.21 | -9.07% | ||
| S3 | 4.18 | -9.72% |
6069 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 24, 2024 | May 24, 2024 | Jun 17, 2024 | HK$0.269 | 5.86% |
| 2 | Jun 28, 2023 | Jun 28, 2023 | Jun 28, 2023 | HK$0.0750 | 1.42% |
| 3 | Jul 04, 2022 | Jul 04, 2022 | Jul 04, 2022 | HK$0.0750 | 1.28% |
| 4 | Jun 04, 2021 | Jun 04, 2021 | Jun 04, 2021 | HK$0.0630 | 0.83% |
| 5 | Mar 20, 2020 | Jun 04, 2020 | Jun 30, 2020 | HK$0.0530 | 0.84% |
FAQ
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