Oriental Payment Group 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
Red day on Friday for Oriental Payment Group Holdings Limited
(Updated on Jun 28, 2024)
No changes to the price of Oriental Payment Group Holdings Limited stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at HK$0.119 to a day high of HK$0.119. The price has risen in 4 of the last 10 days and is up by 12.26% over the past 2 weeks.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at HK$0.126 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.55% during the next 3 months and, with a 90% probability hold a price between HK$0.0604 and HK$0.0960 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
8613.HK Signals & Forecast
The Oriental Payment Group Holdings Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at HK$0.117 and HK$0.118. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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. 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.
A sell signal from a double top formation was found on Monday, May 27, 2024 and based on theory for this formation the price should fall by -20.17% to HK$0.0950 within 6 trading days since signal was issued (Tuesday, June 04, 2024).
Support, Risk & Stop-loss for Oriental Payment Group Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.112 and HK$0.111. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Oriental Payment Group Holdings Limited finds support just below today's level at HK$0.112. If this is broken, then the next support from accumulated volume will be at HK$0.111 and HK$0.105.
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 1.18%
Our recommended stop-loss: HK$0.112 (-5.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (8613.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Oriental Payment Group Holdings Limited to open at HK$0.119, and during the day (based on 14 day Average True Range), to move between HK$0.114 and HK$0.124, which gives a possible trading interval of +/-HK$0.0052 (+/-4.40%) up or down from last closing price. If Oriental Payment Group Holdings Limited takes out the full calculated possible swing range there will be an estimated 8.79% 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$0.112 (5.88%) than the resistance at HK$0.127 (6.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oriental Payment Group Holdings Limited stock A Buy?
Oriental Payment Group Holdings 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: 0.510 Hold/Accumulate Unchanged
Predicted Opening Price for Oriental Payment Group Holdings Limited of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$0.119 ( 0%) | HK$0.119 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8613.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.119 | - |
| R2 | 0.119 | - |
| R1 | 0.119 | - |
| Price | 0.119 | |
| S1 | 0.119 | - |
| S2 | 0.119 | - |
| S3 | 0.119 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.135 | 13.45% |
| R2 | 0.129 | 8.40% |
| R1 | 0.127 | 6.72% |
| Price | 0.119 | |
| S1 | 0.112 | -5.88% |
| S2 | 0.111 | -6.72% |
| S3 | 0.105 | -11.76% |
FAQ
Click here for our free guide on how to buy Oriental Payment Group Holdings Limited Stock.
