Pacific Legend Group 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
Pacific Legend Group Limited stock price ended at HK$0.210 on Friday, after losing 0%.
(Updated on May 03, 2024)
No changes to the price of Pacific Legend Group Limited stock on the last trading day (Friday, 3rd May 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.210 to a day high of HK$0.210. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stock lies in the middle of a very 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 -9.21% during the next 3 months and, with a 90% probability hold a price between HK$0.159 and HK$0.201 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8547.HK Signals & Forecast
The Pacific Legend Group 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$0.210 and HK$0.205. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 02, 2024, and so far it has fallen 0%. 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 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 Pacific Legend Group Limited stock
Pacific Legend Group Limited finds support from accumulated volume at HK$0.200 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%
Our recommended stop-loss: HK$0.202 (-4.00%) (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 (8547.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Pacific Legend Group Limited to open at HK$0.210, and during the day (based on 14 day Average True Range), to move between HK$0.208 and HK$0.212, which gives a possible trading interval of +/-HK$0.0025 (+/-1.17%) up or down from last closing price. If Pacific Legend Group Limited takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.200 (4.76%) than the resistance at HK$0.228 (8.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Pacific Legend Group Limited will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Pacific Legend Group Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.71% in the first trading day after earnings release.
Is Pacific Legend Group Limited stock A Buy?
Pacific Legend Group 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 Pacific Legend Group Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
HK$0.210 ( 0%) | HK$0.210 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8547.HK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.210 | . | |
R2 | 0.210 | . | ||
R1 | 0.210 | . | ||
Current price: | 0.210 | |||
Support | S1 | 0.210 | . | |
S2 | 0.210 | . | ||
S3 | 0.210 | . |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.240 | 14.29 % | |
R2 | 0.230 | 9.52 % | ||
R1 | 0.228 | 8.57 % | ||
Current price | 0.210 | |||
Support | S1 | 0.200 | -4.76% | |
S2 | 0.190 | -9.52% | ||
S3 | 0.186 | -11.43% |
FAQ
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