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 from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Luxey International (Holdings) Limited stock price gained 1.78% on the last trading day (Friday, 17th May 2024), rising from HK$0.225 to HK$0.229. During the last trading day the stock fluctuated 3.62% from a day low at HK$0.221 to a day high of HK$0.229. The price has risen in 5 of the last 10 days but is still down by -2.14% for this period. Volume fell on the last day by -270 thousand shares and in total, 340 thousand shares were bought and sold for approximately HK$77.86 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -20.03% during the next 3 months and, with a 90% probability hold a price between HK$0.164 and HK$0.188 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8041.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.78%. Further rise is indicated until a new top pivot has been found. 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. The Luxey International (Holdings) Limited 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$0.231 and HK$0.234. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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$0.228 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved HK$0.0080 between high and low, or 3.62%. For the last week the stock has had daily average volatility of 4.26%
Our recommended stop-loss: HK$0.216 (-5.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (8041.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Luxey International (Holdings) Limited to open at HK$0.226, and during the day (based on 14 day Average True Range), to move between HK$0.220 and HK$0.238, which gives a possible trading interval of +/-HK$0.0088 (+/-3.84%) 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 7.68% 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$0.228 (0.44%) than the resistance at HK$0.239 (4.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Luxey International (Holdings) Limited stock A Buy?
Luxey International (Holdings) 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.238 Hold/Accumulate Upgraded
Predicted Opening Price for Luxey International (Holdings) Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.226 ( 1.16%) | HK$0.229 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.234 | 2.33 % | |
| R2 | 0.231 | 0.99 % | ||
| R1 | 0.229 | 0.170 % | ||
| Current price: | 0.229 | |||
| Support | S1 | 0.223 | -2.50 % | |
| S2 | 0.221 | -3.32 % | ||
| S3 | 0.218 | -4.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.260 | 13.54 % | |
| R2 | 0.250 | 9.17 % | ||
| R1 | 0.239 | 4.37 % | ||
| Current price | 0.229 | |||
| Support | S1 | 0.228 | -0.437% | |
| S2 | 0.226 | -1.31% | ||
| S3 | 0.225 | -1.75% |
FAQ
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