Luxey International (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
Luxey International (Holdings) Limited stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Luxey International (Holdings) Limited stock price fell by -0.418% on the last day (Tuesday, 2nd Jul 2024) from HK$0.239 to HK$0.238. During the last trading day the stock fluctuated 0.422% from a day low at HK$0.237 to a day high of HK$0.238. The price has fallen in 5 of the last 10 days but is still up by 0.85% over the past 2 weeks. 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 -400 thousand shares and in total, 100 thousand shares were bought and sold for approximately HK$23.80 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at HK$0.244 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Luxey International (Holdings) Limited stock with a 90% probability to be traded between HK$0.209 and HK$0.244 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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8041.HK Signals & Forecast
The Luxey International (Holdings) 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$0.239. On a fall, the stock will find some support from the long-term average at approximately HK$0.227. 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. 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 Monday, June 24, 2024, and so far it has fallen -2.46%. Further fall is indicated until a new bottom pivot has been found. 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 Luxey International (Holdings) Limited stock
Luxey International (Holdings) Limited finds support from accumulated volume at HK$0.230 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$0.0010 between high and low, or 0.422%. For the last week the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: HK$0.229 (-3.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (8041.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Luxey International (Holdings) Limited to open at HK$0.238, and during the day (based on 14 day Average True Range), to move between HK$0.232 and HK$0.244, which gives a possible trading interval of +/-HK$0.0056 (+/-2.34%) up or down from last closing price. If Luxey International (Holdings) Limited takes out the full calculated possible swing range there will be an estimated 4.69% 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$0.239 (0.42%) than the support at HK$0.230 (3.36%), 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 Luxey International (Holdings) Limited stock A Buy?
Luxey International (Holdings) Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.111 Hold/Accumulate Upgraded
Predicted Opening Price for Luxey International (Holdings) Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.238 ( 0.140%) | HK$0.238 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8041.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.239 | 0.280% |
| R2 | 0.238 | 0.120% |
| R1 | 0.238 | 0.0204% |
| Price | 0.238 | |
| S1 | 0.237 | -0.301% |
| S2 | 0.237 | -0.400% |
| S3 | 0.237 | -0.560% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.244 | 2.52% |
| R2 | 0.243 | 2.10% |
| R1 | 0.239 | 0.420% |
| Price | 0.238 | |
| S1 | 0.230 | -3.36% |
| S2 | 0.229 | -3.78% |
| S3 | 0.226 | -5.04% |
FAQ
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