Bank of Zhengzhou 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
Bank of Zhengzhou Co., Ltd. stock downgraded to Sell Candidate
(Updated on Jun 04, 2024)
No changes to the price of Bank of Zhengzhou Co., Ltd. stock on the last trading day (Tuesday, 4th Jun 2024). During the last trading day the stock fluctuated 1.27% from a day low at HK$0.790 to a day high of HK$0.80. The price has fallen in 4 of the last 10 days and is down by -7.06% for this period.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bank of Zhengzhou Co., Ltd. stock with a 90% probability to be traded between HK$0.688 and HK$0.84 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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6196.HK Signals & Forecast
The Bank of Zhengzhou Co., Ltd. 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$0.81. On a fall, the stock will find some support from the long-term average at approximately HK$0.785. 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. 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 Monday, May 20, 2024, and so far it has fallen -8.14%. 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). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Bank of Zhengzhou Co., Ltd. stock
Bank of Zhengzhou Co., Ltd. finds support from accumulated volume at HK$0.780 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0100 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6196.HK) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect Bank of Zhengzhou Co., Ltd. to open at HK$0.793, and during the day (based on 14 day Average True Range), to move between HK$0.768 and HK$0.81, which gives a possible trading interval of +/-HK$0.0223 (+/-2.82%) up or down from last closing price. If Bank of Zhengzhou Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.64% 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$0.780 (1.27%) than the resistance at HK$0.82 (3.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bank of Zhengzhou Co., Ltd. stock A Buy?
Bank of Zhengzhou Co., Ltd. holds several negative signals and is within a 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. 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: -1.061 Sell Candidate Downgraded
Predicted Opening Price for Bank of Zhengzhou Co., Ltd. of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| HK$0.793 ( 0.422%) | HK$0.790 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6196.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 1.69 % | |
| R2 | 0.800 | 1.20 % | ||
| R1 | 0.797 | 0.91 % | ||
| Current price: | 0.790 | |||
| Support | S1 | 0.790 | -0.0616 % | |
| S2 | 0.787 | -0.360 % | ||
| S3 | 0.783 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 6.33 % | |
| R2 | 0.83 | 5.06 % | ||
| R1 | 0.82 | 3.80 % | ||
| Current price | 0.790 | |||
| Support | S1 | 0.780 | -1.27% | |
| S2 | 0.770 | -2.53% | ||
| S3 | 0.720 | -8.86% |
6196 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 26, 2020 | May 26, 2020 | May 26, 2020 | HK$0.0821 | 5.86% |
| 2 | May 28, 2019 | May 28, 2019 | May 28, 2019 | HK$0.128 | 6.38% |
| 3 | May 24, 2017 | May 24, 2017 | May 24, 2017 | HK$0.187 | 5.62% |
| 4 | Jun 21, 2016 | Jun 21, 2016 | Jun 21, 2016 | HK$0.177 | 5.70% |
FAQ
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