China Aluminum Cans Holdings 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
China Aluminum Cans Holdings Limited stock price down 1.33% on Wednesday
(Updated on Jul 03, 2024)
The China Aluminum Cans Holdings Limited stock price fell by -1.33% on the last day (Wednesday, 3rd Jul 2024) from HK$0.750 to HK$0.740. During the last trading day the stock fluctuated 7.14% from a day low at HK$0.700 to a day high of HK$0.750. The price has risen in 5 of the last 10 days. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -18 million shares and in total, 46 thousand shares were bought and sold for approximately HK$34.04 thousand.
The stock lies in the upper part of a wide and strong 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$0.753 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 30.53% during the next 3 months and, with a 90% probability hold a price between HK$0.82 and HK$0.98 at the end of this 3-month period.
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6898.HK Signals & Forecast
The China Aluminum Cans Holdings Limited 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$0.720 and HK$0.652. A breakdown below any of these levels will issue sell signals. 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, July 02, 2024, and so far it has fallen -1.33%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Aluminum Cans Holdings Limited stock
China Aluminum Cans Holdings Limited finds support from accumulated volume at HK$0.730 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$0.0500 between high and low, or 7.14%. For the last week the stock has had daily average volatility of 11.35%.
Our recommended stop-loss: HK$0.710 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (6898.HK) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect China Aluminum Cans Holdings Limited to open at HK$0.730, and during the day (based on 14 day Average True Range), to move between HK$0.673 and HK$0.81, which gives a possible trading interval of +/-HK$0.0668 (+/-9.02%) up or down from last closing price. If China Aluminum Cans Holdings Limited takes out the full calculated possible swing range there will be an estimated 18.04% 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$0.750 (1.35%) than the support at HK$0.730 (1.35%), 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 China Aluminum Cans Holdings 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 China Aluminum Cans Holdings Limited stock to perform well in the short-term.
Current score: 2.052 Buy Candidate Unchanged
Predicted Opening Price for China Aluminum Cans Holdings Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| HK$0.730 ( 1.35%) | HK$0.740 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6898.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.780 | 5.41% |
| R2 | 0.761 | 2.82% |
| R1 | 0.749 | 1.23% |
| Price | 0.740 | |
| S1 | 0.711 | -3.93% |
| S2 | 0.699 | -5.53% |
| S3 | 0.680 | -8.11% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.750 | 1.35% |
| Price | 0.740 | |
| S1 | 0.730 | -1.35% |
| S2 | 0.670 | -9.46% |
| S3 | 0.660 | -10.81% |
6898 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jul 08, 2024 | HK$0.0040 | 0.541% |
| 2 | Sep 04, 2023 | Sep 04, 2023 | Oct 31, 2023 | HK$0.0029 | 0.527% |
| 3 | May 25, 2023 | May 25, 2023 | Jun 26, 2023 | HK$0.0038 | 0.81% |
| 4 | Sep 02, 2022 | Sep 02, 2022 | Oct 31, 2022 | HK$0.0029 | 0.773% |
| 5 | May 19, 2022 | May 19, 2022 | Jun 15, 2022 | HK$0.0031 | 0.756% |
FAQ
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