Bortex Global 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
Red day on Friday for Bortex Global Limited stock after losing 0%
(Updated on May 17, 2024)
No changes to the price of Bortex Global Limited stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.0860 to a day high of HK$0.0860. The price has fallen in 5 of the last 10 days but is still up by 10.26% over the past 2 weeks.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$0.0774 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 31.71% during the next 3 months and, with a 90% probability hold a price between HK$0.102 and HK$0.193 at the end of this 3-month period.
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8118.HK Signals & Forecast
The Bortex Global 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$0.0953. On a fall, the stock will find some support from the long-term average at approximately HK$0.0845. 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, May 06, 2024, and so far it has fallen -39.44%. 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 Bortex Global Limited stock
Bortex Global Limited finds support from accumulated volume at HK$0.0820 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". 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 14.72%.
Our recommended stop-loss: HK$0.0809 (-5.94%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (8118.HK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Bortex Global Limited to open at HK$0.0860, and during the day (based on 14 day Average True Range), to move between HK$0.0674 and HK$0.105, which gives a possible trading interval of +/-HK$0.0186 (+/-21.58%) up or down from last closing price. If Bortex Global Limited takes out the full calculated possible swing range there will be an estimated 43.16% 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$0.0890 (3.49%) than the support at HK$0.0820 (4.65%), 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 Bortex Global Limited stock A Buy?
Bortex Global 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: 0.875 Hold/Accumulate Unchanged
Predicted Opening Price for Bortex Global Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| HK$0.0860 ( 0.00000000%) | HK$0.0860 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8118.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0860 | 0.00000000 % | |
| R2 | 0.0860 | 0.00000000 % | ||
| R1 | 0.0860 | 0.00000000 % | ||
| Current price: | 0.0860 | |||
| Support | S1 | 0.0860 | 0.00000000 % | |
| S2 | 0.0860 | 0.00000000 % | ||
| S3 | 0.0860 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.101 | 17.44 % | |
| R2 | 0.0940 | 9.30 % | ||
| R1 | 0.0890 | 3.49 % | ||
| Current price | 0.0860 | |||
| Support | S1 | 0.0820 | -4.65% | |
| S2 | 0.0780 | -9.30% | ||
| S3 | 0.0690 | -19.77% |
FAQ
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