China Youzan 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
Big movements in China Youzan Limited stock price on Friday moving 10.34% between high and low
(Updated on May 03, 2024)
The China Youzan Limited stock price gained 1.10% on the last trading day (Friday, 3rd May 2024), rising from HK$0.0910 to HK$0.0920. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.34% from a day low at HK$0.0870 to a day high of HK$0.0960. The price has risen in 7 of the last 10 days and is up by 24.32% over the past 2 weeks. Volume fell on the last day by -106 million shares and in total, 188 million shares were bought and sold for approximately HK$17.29 million. 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 stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is HK$0.0892, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.111 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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8083.HK Signals & Forecast
The China Youzan 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$0.0833 and HK$0.0811. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 33.33%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -14.26% to HK$0.0789 within 17 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for China Youzan Limited stock
China Youzan Limited finds support from accumulated volume at HK$0.0910 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0090 between high and low, or 10.34%. For the last week, the stock has had daily average volatility of 9.20%.
Our recommended stop-loss: HK$0.0892 (-3.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (8083.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Youzan Limited to open at HK$0.0917, and during the day (based on 14 day Average True Range), to move between HK$0.0864 and HK$0.0976, which gives a possible trading interval of +/-HK$0.0056 (+/-6.12%) up or down from last closing price. If China Youzan Limited takes out the full calculated possible swing range there will be an estimated 12.24% 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$0.0930 (1.09%) than the support at HK$0.0910 (1.09%), 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 Youzan Limited stock A Buy?
China Youzan 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for China Youzan Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.0917 ( 0.362%) | HK$0.0920 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8083.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.101 | 9.42 % | |
| R2 | 0.0972 | 5.68 % | ||
| R1 | 0.0951 | 3.37 % | ||
| Current price: | 0.0920 | |||
| Support | S1 | 0.0882 | -4.10 % | |
| S2 | 0.0861 | -6.41 % | ||
| S3 | 0.0827 | -10.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.0930 | 1.09 % | ||
| Current price | 0.0920 | |||
| Support | S1 | 0.0910 | -1.09% | |
| S2 | 0.0830 | -9.78% | ||
| S3 | 0.0820 | -10.87% |
FAQ
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