Roma Group 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
Volatile ride for Roma Group Limited stock price on Friday moving between HK$0.0210 and HK$0.0240
(Updated on Jun 28, 2024)
The Roma Group Limited stock price fell by -8.33% on the last day (Friday, 28th Jun 2024) from HK$0.0240 to HK$0.0220. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 14.29% from a day low at HK$0.0210 to a day high of HK$0.0240. The price has fallen in 5 of the last 10 days and is down by -18.52% for this period. 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 -1 million shares and in total, 1 million shares were bought and sold for approximately HK$24.22 thousand.
The stock has broken the very wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately HK$0.0230 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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8072.HK Signals & Forecast
There are few to no technical positive signals at the moment. The Roma Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$0.0256 and HK$0.0253. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -24.14%. 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 Roma Group Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.0030 between high and low, or 14.29%. For the last week the stock has had daily average volatility of 6.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8072.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Roma Group Limited to open at HK$0.0223, and during the day (based on 14 day Average True Range), to move between HK$0.0199 and HK$0.0241, which gives a possible trading interval of +/-HK$0.0021 (+/-9.43%) up or down from last closing price. If Roma Group Limited takes out the full calculated possible swing range there will be an estimated 18.87% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.0250, some HK$0.0030 (13.64%) from the current price of HK$0.0220, our system finds the risk reward not very attractive.
Is Roma Group Limited stock A Buy?
Roma Group Limited holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -5.682 Strong Sell Candidate Downgraded
Predicted Opening Price for Roma Group Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.0223 ( 1.52%) | HK$0.0220 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8072.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0253 | 15.15% |
| R2 | 0.0242 | 9.94% |
| R1 | 0.0235 | 6.72% |
| Price | 0.0220 | |
| S1 | 0.0212 | -3.69% |
| S2 | 0.0205 | -6.91% |
| S3 | 0.0193 | -12.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0270 | 22.73% |
| R2 | 0.0260 | 18.18% |
| R1 | 0.0250 | 13.64% |
| Price | 0.0220 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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