Tasty Concepts Holding Ltd 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
Red day on Friday for Tasty Concepts Holding Ltd
(Updated on May 10, 2024)
No changes to the price of Tasty Concepts Holding Ltd stock on the last trading day (Friday, 10th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.141 to a day high of HK$0.141. The price has risen in 4 of the last 10 days and is up by 31.78% over the past 2 weeks.
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$0.138, a level that may pose a second chance to hit a runner. According to fan-theory HK$0.206 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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8096.HK Signals & Forecast
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 Tasty Concepts Holding Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.143. On a fall, the stock will find some support from the short-term average at HK$0.136. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tasty Concepts Holding Ltd stock
Tasty Concepts Holding Ltd finds support from accumulated volume at HK$0.140 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.89%
Our recommended stop-loss: HK$0.136 (-3.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (8096.HK) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Tasty Concepts Holding Ltd to open at HK$0.141, and during the day (based on 14 day Average True Range), to move between HK$0.134 and HK$0.148, which gives a possible trading interval of +/-HK$0.0066 (+/-4.67%) up or down from last closing price. If Tasty Concepts Holding Ltd takes out the full calculated possible swing range there will be an estimated 9.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.140, some HK$0.0010 (0.71%) from the current price of HK$0.141, our system finds the risk reward attractive.
Is Tasty Concepts Holding Ltd stock A Buy?
Tasty Concepts Holding Ltd 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 Tasty Concepts Holding Ltd of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| HK$0.141 ( 0%) | HK$0.141 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8096.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.141 | . | |
| R2 | 0.141 | . | ||
| R1 | 0.141 | . | ||
| Current price: | 0.141 | |||
| Support | S1 | 0.141 | . | |
| S2 | 0.141 | . | ||
| S3 | 0.141 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.141 | |||
| Support | S1 | 0.140 | -0.709% | |
| S2 | 0.115 | -18.44% | ||
| S3 | 0.114 | -19.15% |
FAQ
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