Shenwan Hongyuan Group 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
Shenwan Hongyuan Group Co., Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
No changes to the price of Shenwan Hongyuan Group Co., Ltd. stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 1.32% from a day low at HK$1.51 to a day high of HK$1.53. The price has been going up and down for this period, and there has been a 8.57% gain for the last 2 weeks.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at HK$1.52 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.41% during the next 3 months and, with a 90% probability hold a price between HK$1.47 and HK$1.65 at the end of this 3-month period.
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6806.HK Signals & Forecast
The Shenwan Hongyuan Group 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 HK$1.48 and HK$1.42. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 02, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Shenwan Hongyuan Group Co., Ltd. stock
Shenwan Hongyuan Group Co., Ltd. finds support from accumulated volume at HK$1.51 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 2.99%.
The Shenwan Hongyuan Group Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: HK$1.47 (-3.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (6806.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Shenwan Hongyuan Group Co., Ltd. to open at HK$1.52, and during the day (based on 14 day Average True Range), to move between HK$1.48 and HK$1.56, which gives a possible trading interval of +/-HK$0.0353 (+/-2.33%) up or down from last closing price. If Shenwan Hongyuan Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$1.51, some HK$0.0100 (0.66%) from the current price of HK$1.52, our system finds the risk reward attractive.
Is Shenwan Hongyuan Group Co., Ltd. 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 Shenwan Hongyuan Group Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.338 Buy Candidate Upgraded
Predicted Opening Price for Shenwan Hongyuan Group Co., Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$1.52 ( 0.00000000%) | HK$1.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6806.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.54 | 1.32 % | |
| R2 | 1.53 | 0.81 % | ||
| R1 | 1.53 | 0.503 % | ||
| Current price: | 1.52 | |||
| Support | S1 | 1.51 | -0.503 % | |
| S2 | 1.51 | -0.81 % | ||
| S3 | 1.50 | -1.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.52 | |||
| Support | S1 | 1.51 | -0.658% | |
| S2 | 1.41 | -7.24% | ||
| S3 | 1.39 | -8.55% |
6806 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 26, 2023 | Jun 26, 2023 | Jun 26, 2023 | HK$0.0329 | 2.19% |
| 2 | Jun 23, 2022 | Jun 23, 2022 | Jun 23, 2022 | HK$0.118 | 7.53% |
| 3 | Jun 09, 2021 | Jun 09, 2021 | Jun 09, 2021 | HK$0.121 | 5.49% |
| 4 | Jul 08, 2020 | Jul 08, 2020 | Jul 08, 2020 | HK$0.0875 | 3.30% |
FAQ
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