CAMC NDAQDLP/UT HKD 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 CAMC NDAQDLP/UT HKD as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
The CAMC NDAQDLP/UT HKD stock price fell by -3.78% on the last day (Thursday, 2nd May 2024) from HK$25.92 to HK$24.94. During the last trading day the stock fluctuated 0.725% from a day low at HK$24.84 to a day high of HK$25.02. The price has fallen in 6 of the last 10 days and is down by -3.78% for this period. Volume has increased on the last day by 16 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, 21 thousand shares were bought and sold for approximately HK$513.76 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.42% during the next 3 months and, with a 90% probability hold a price between HK$23.22 and HK$26.74 at the end of this 3-month period.
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7261.HK Signals & Forecast
There are few to no technical positive signals at the moment. The CAMC NDAQDLP/UT HKD stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$25.29 and HK$26.62. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.00%. 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). CAMC NDAQDLP/UT HKD 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".
A sell signal from a double top formation was found on Thursday, March 21, 2024 with a target of HK$26.71. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for CAMC NDAQDLP/UT HKD stock
CAMC NDAQDLP/UT HKD finds support from accumulated volume at HK$24.72 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$0.180 between high and low, or 0.725%. For the last week, the stock has had daily average volatility of 0.399%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7261.HK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect CAMC NDAQDLP/UT HKD to open at HK$24.93, and during the day (based on 14 day Average True Range), to move between HK$24.33 and HK$25.55, which gives a possible trading interval of +/-HK$0.612 (+/-2.45%) up or down from last closing price. If CAMC NDAQDLP/UT HKD takes out the full calculated possible swing range there will be an estimated 4.91% 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$24.72 (0.88%) than the resistance at HK$25.92 (3.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CAMC NDAQDLP/UT HKD stock A Buy?
CAMC NDAQDLP/UT HKD 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: -3.304 Sell Candidate Downgraded
Predicted Opening Price for CAMC NDAQDLP/UT HKD of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| HK$24.93 ( 0.0267%) | HK$24.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7261.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.11 | 0.695 % | |
| R2 | 25.04 | 0.419 % | ||
| R1 | 25.00 | 0.249 % | ||
| Current price: | 24.94 | |||
| Support | S1 | 24.86 | -0.302 % | |
| S2 | 24.82 | -0.473 % | ||
| S3 | 24.75 | -0.748 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.00 | 8.26 % | |
| R2 | 26.52 | 6.34 % | ||
| R1 | 25.92 | 3.93 % | ||
| Current price | 24.94 | |||
| Support | S1 | 24.72 | -0.88% | |
| S2 | 24.44 | -2.00% | ||
| S3 | 24.16 | -3.13% |
FAQ
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