Elegance Commercial and Financial 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
Elegance Commercial and Financial stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 24, 2024)
The Elegance Commercial and Financial stock price fell by -3.64% on the last day (Friday, 24th May 2024) from HK$0.550 to HK$0.530. During the last trading day the stock fluctuated 1.89% from a day low at HK$0.530 to a day high of HK$0.540. The price has fallen in 4 of the last 10 days. 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, 288 thousand shares were bought and sold for approximately HK$152.64 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.75% during the next 3 months and, with a 90% probability hold a price between HK$0.467 and HK$0.536 at the end of this 3-month period.
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8391.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 Elegance Commercial and Financial stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$0.539 and HK$0.539. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -7.02%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Elegance Commercial and Financial stock
Elegance Commercial and Financial finds support from accumulated volume at HK$0.520 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 controlled movements and therefore the general risk is considered 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$0.0100 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 5.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8391.HK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Elegance Commercial and Financial Printing Group Limited to open at HK$0.533, and during the day (based on 14 day Average True Range), to move between HK$0.507 and HK$0.553, which gives a possible trading interval of +/-HK$0.0232 (+/-4.37%) up or down from last closing price. If Elegance Commercial and Financial Printing Group Limited takes out the full calculated possible swing range there will be an estimated 8.74% 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$0.540 (1.89%) than the support at HK$0.520 (1.89%), 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 Elegance Commercial and Financial Printing Group Limited stock A Buy?
Elegance Commercial and Financial holds several negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -2.166 Sell Candidate Downgraded
Predicted Opening Price for Elegance Commercial and Financial Printing Group Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| HK$0.533 ( 0.629%) | HK$0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8391.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.543 | 2.52 % | |
| R2 | 0.540 | 1.79 % | ||
| R1 | 0.537 | 1.35 % | ||
| Current price: | 0.530 | |||
| Support | S1 | 0.530 | -0.0918 % | |
| S2 | 0.527 | -0.537 % | ||
| S3 | 0.523 | -1.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.570 | 7.55 % | |
| R2 | 0.550 | 3.77 % | ||
| R1 | 0.540 | 1.89 % | ||
| Current price | 0.530 | |||
| Support | S1 | 0.520 | -1.89% | |
| S2 | 0.510 | -3.77% | ||
| S3 | 0 | . |
FAQ
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