Honma Golf 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
Weaker technical forecast for Honma Golf Limited as stock downgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Honma Golf Limited stock price fell by -0.298% on the last day (Friday, 31st May 2024) from HK$3.36 to HK$3.35. During the last trading day the stock fluctuated 1.21% from a day low at HK$3.31 to a day high of HK$3.35. The price has been going up and down for this period, and there has been a 0.6% gain for the last 2 weeks. Volume has increased on the last day by 1 thousand 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, 5 thousand shares were bought and sold for approximately HK$15.08 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.18% during the next 3 months and, with a 90% probability hold a price between HK$3.34 and HK$3.53 at the end of this 3-month period.
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6858.HK Signals & Forecast
The Honma Golf 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$3.35. On a fall, the stock will find some support from the long-term average at approximately HK$3.34. 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 Tuesday, May 21, 2024, and so far it has fallen -0.89%. 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). Honma Golf Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, April 11, 2024 in the long-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 12 Months
The stock had a Golden Star Signal on Thursday, April 11, 2024 in the long-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.
A sell signal from a double top formation was found on Tuesday, May 21, 2024 and based on theory for this formation the price should fall by -5.47% to HK$3.17 within 43 trading days since signal was issued (Monday, June 03, 2024).
Support, Risk & Stop-loss for Honma Golf Limited stock
Honma Golf Limited finds support from accumulated volume at HK$3.33 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 HK$0.0400 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.62%.
Our recommended stop-loss: HK$3.24 (-3.21%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (6858.HK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Honma Golf Limited to open at HK$3.34, and during the day (based on 14 day Average True Range), to move between HK$3.29 and HK$3.41, which gives a possible trading interval of +/-HK$0.0627 (+/-1.87%) up or down from last closing price. If Honma Golf Limited takes out the full calculated possible swing range there will be an estimated 3.74% 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$3.36 (0.30%) than the support at HK$3.33 (0.60%), 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 Honma Golf Limited stock A Buy?
Honma Golf Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.776 Hold/Accumulate Downgraded
Predicted Opening Price for Honma Golf Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| HK$3.34 ( 0.398%) | HK$3.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6858.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.38 | 0.796 % | |
| R2 | 3.36 | 0.340 % | ||
| R1 | 3.35 | 0.0581 % | ||
| Current price: | 3.35 | |||
| Support | S1 | 3.32 | -0.85 % | |
| S2 | 3.31 | -1.14 % | ||
| S3 | 3.30 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.39 | 1.19 % | |
| R2 | 3.37 | 0.597 % | ||
| R1 | 3.36 | 0.299 % | ||
| Current price | 3.35 | |||
| Support | S1 | 3.33 | -0.597% | |
| S2 | 3.30 | -1.49% | ||
| S3 | 3.25 | -2.99% |
6858 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 12, 2023 | Dec 12, 2023 | Dec 12, 2023 | HK$0 | 0% |
| 2 | Dec 12, 2022 | Dec 12, 2022 | Dec 12, 2022 | HK$0.0861 | 2.65% |
| 3 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | HK$0.109 | 3.45% |
| 4 | Dec 09, 2021 | Dec 09, 2021 | Dec 09, 2021 | HK$0.103 | 2.91% |
| 5 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | HK$1.70 | 47.09% |
FAQ
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