FIT Hon Teng 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
FIT Hon Teng Limited stock price down 0.455% on Monday
(Updated on May 06, 2024)
The FIT Hon Teng Limited stock price fell by -0.455% on the last day (Monday, 6th May 2024) from HK$2.20 to HK$2.19. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 4.72% from a day low at HK$2.12 to a day high of HK$2.22. The price has fallen in 6 of the last 10 days but is still up by 11.17% over the past 2 weeks. Volume has increased on the last day by 11 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, 17 million shares were bought and sold for approximately HK$37.66 million.
The stock lies in the lower part of a very 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$2.14 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 123.87% during the next 3 months and, with a 90% probability hold a price between HK$4.79 and HK$6.54 at the end of this 3-month period.
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6088.HK Signals & Forecast
The FIT Hon Teng Limited 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$2.23. On a fall, the stock will find some support from the long-term average at approximately HK$2.02. 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. 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. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -10.25%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for FIT Hon Teng Limited stock
FIT Hon Teng Limited finds support from accumulated volume at HK$2.15 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.100 between high and low, or 4.72%. For the last week, the stock has had daily average volatility of 4.46%.
Our recommended stop-loss: HK$2.11 (-3.45%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (6088.HK) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect FIT Hon Teng Limited to open at HK$2.18, and during the day (based on 14 day Average True Range), to move between HK$2.05 and HK$2.33, which gives a possible trading interval of +/-HK$0.143 (+/-6.53%) up or down from last closing price. If FIT Hon Teng Limited takes out the full calculated possible swing range there will be an estimated 13.07% 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$2.15 (1.83%) than the resistance at HK$2.29 (4.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
FIT Hon Teng Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for FIT Hon Teng Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.67% in the first trading day after earnings release.
Is FIT Hon Teng Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for FIT Hon Teng Limited stock to perform well in the short-term.
Current score: 1.061 Buy Candidate Unchanged
Predicted Opening Price for FIT Hon Teng Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| HK$2.18 ( 0.609%) | HK$2.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6088.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.28 | 3.96 % | |
| R2 | 2.24 | 2.21 % | ||
| R1 | 2.21 | 1.14 % | ||
| Current price: | 2.19 | |||
| Support | S1 | 2.14 | -2.35 % | |
| S2 | 2.11 | -3.43 % | ||
| S3 | 2.08 | -5.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.44 | 11.42 % | |
| R2 | 2.36 | 7.76 % | ||
| R1 | 2.29 | 4.57 % | ||
| Current price | 2.19 | |||
| Support | S1 | 2.15 | -1.83% | |
| S2 | 2.03 | -7.31% | ||
| S3 | 1.82 | -16.89% |
6088 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2019 | Jun 25, 2019 | Jul 19, 2019 | HK$0.0700 | 2.24% |
| 2 | Mar 23, 2018 | Jul 04, 2018 | Jul 20, 2018 | HK$0.0550 | 1.62% |
| 3 | Aug 18, 2017 | Nov 09, 2017 | Nov 30, 2017 | HK$0.0470 | 0.795% |
FAQ
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