Zhonghua Gas 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
Zhonghua Gas Holdings Limited stock price ended at HK$0.191 on Wednesday, after gaining 0.526%.
(Updated on Jun 26, 2024)
The Zhonghua Gas Holdings Limited stock price gained 0.526% on the last trading day (Wednesday, 26th Jun 2024), rising from HK$0.190 to HK$0.191. During the last trading day the stock fluctuated 2.14% from a day low at HK$0.187 to a day high of HK$0.191. The price has risen in 5 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -424 thousand shares and in total, 304 thousand shares were bought and sold for approximately HK$58.06 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 strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 36.27% during the next 3 months and, with a 90% probability hold a price between HK$0.252 and HK$0.280 at the end of this 3-month period.
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8246.HK Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.521%. 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 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. The Zhonghua Gas Holdings 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$0.191 and HK$0.186. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Zhonghua Gas Holdings Limited stock
Zhonghua Gas Holdings Limited finds support from accumulated volume at HK$0.190 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$0.0040 between high and low, or 2.14%. For the last week the stock has had daily average volatility of 2.27%
Our recommended stop-loss: HK$0.184 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (8246.HK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Zhonghua Gas Holdings Limited to open at HK$0.190, and during the day (based on 14 day Average True Range), to move between HK$0.188 and HK$0.194, which gives a possible trading interval of +/-HK$0.0035 (+/-1.82%) up or down from last closing price. If Zhonghua Gas Holdings Limited takes out the full calculated possible swing range there will be an estimated 3.64% 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$0.192 (0.52%) than the support at HK$0.190 (0.52%), 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 Zhonghua Gas Holdings Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Zhonghua Gas Holdings Limited stock to perform well in the short-term.
Current score: 3.733 Buy Candidate Unchanged
Predicted Opening Price for Zhonghua Gas Holdings Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| HK$0.190 ( 0.698%) | HK$0.191 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8246.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.194 | 1.40% |
| R2 | 0.192 | 0.596% |
| R1 | 0.191 | 0.102% |
| Price | 0.191 | |
| S1 | 0.188 | -1.50% |
| S2 | 0.187 | -1.99% |
| S3 | 0.186 | -2.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.192 | 0.524% |
| Price | 0.191 | |
| S1 | 0.190 | -0.524% |
| S2 | 0.154 | -19.37% |
| S3 | 0.149 | -21.99% |
8246 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2019 | Jul 15, 2019 | Aug 15, 2019 | HK$0.0050 | 1.75% |
FAQ
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