Bong AB (publ) 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
Bong AB (publ) stock price down 0.235% on Wednesday
(Updated on Jul 03, 2024)
The Bong AB (publ) stock price fell by -0.235% on the last day (Wednesday, 3rd Jul 2024) from kr0.85 to kr0.85. During the last trading day the stock fluctuated 3.92% from a day low at kr0.82 to a day high of kr0.85. The price has fallen in 5 of the last 10 days and is down by -3.64% for this period. Volume has increased on the last day by 85 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 102 thousand shares were bought and sold for approximately kr86.15 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Bong AB (publ) stock with a 90% probability to be traded between kr0.81 and kr0.87 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BONG.ST Signals & Forecast
The Bong AB (publ) 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 kr0.84 and kr0.85. 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 risen 2.66%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Bong AB (publ) gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 Tuesday, June 18, 2024 and based on theory for this formation the price should fall by -8.25% to kr0.778 within 6 trading days (Thursday, June 27, 2024) since signal was issued.
Support, Risk & Stop-loss for Bong AB (publ) stock
Bong AB (publ) finds support from accumulated volume at kr0.85 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved kr0.0320 between high and low, or 3.92%. For the last week the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: kr0.81 (-4.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (BONG.ST) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Bong AB (publ) to open at kr0.84, and during the day (based on 14 day Average True Range), to move between kr0.81 and kr0.88, which gives a possible trading interval of +/-kr0.0344 (+/-4.06%) up or down from last closing price. If Bong AB (publ) takes out the full calculated possible swing range there will be an estimated 8.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at kr0.85 (0.24%) than the resistance at kr0.85 (0.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bong AB (publ) stock A Buy?
Bong AB (publ) 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: -0.145 Hold/Accumulate Unchanged
Predicted Opening Price for Bong AB (publ) of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| kr0.84 ( 1.26%) | kr0.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BONG.ST
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.87 | 2.52% |
| R2 | 0.86 | 1.07% |
| R1 | 0.85 | 0.184% |
| Price | 0.85 | |
| S1 | 0.83 | -2.70% |
| S2 | 0.82 | -3.59% |
| S3 | 0.81 | -5.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.88 | 3.30% |
| R2 | 0.86 | 1.42% |
| R1 | 0.85 | 0.708% |
| Price | 0.85 | |
| S1 | 0.85 | -0.236% |
| S2 | 0.84 | -0.472% |
| S3 | 0.82 | -3.30% |
BONG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2011 | May 13, 2011 | May 13, 2011 | kr1.00 | 3.04% |
| 2 | May 19, 2010 | May 19, 2010 | May 19, 2010 | kr1.00 | 3.73% |
| 3 | May 15, 2009 | May 15, 2009 | May 15, 2009 | kr1.00 | 5.88% |
| 4 | May 16, 2008 | May 16, 2008 | May 16, 2008 | kr1.00 | 2.63% |
| 5 | May 11, 2007 | May 11, 2007 | May 11, 2007 | kr1.00 | 1.53% |
FAQ
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