Bank of Sharjah 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
Bank of Sharjah stock price ended at $0.528 on Thursday, after losing 0%.
(Updated on Jun 27, 2024)
No changes to the price of Bank of Sharjah stock on the last trading day (Thursday, 27th Jun 2024). During the last trading day the stock fluctuated 1.92% from a day low at $0.520 to a day high of $0.530. The price has been going up and down for this period, and there has been a -2.04% loss for the last 2 weeks.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.507 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.49% during the next 3 months and, with a 90% probability hold a price between $0.581 and $0.738 at the end of this 3-month period.
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BOS.UH 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 Bank of Sharjah 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 $0.533 and $0.537. 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 15, 2024, and so far it has fallen -11.85%. Further fall is indicated until a new bottom pivot has been found. 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".
Support, Risk & Stop-loss for Bank of Sharjah stock
Bank of Sharjah finds support from accumulated volume at $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 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 $0.0100 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 0.88%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BOS.UH) For The Upcoming Trading Day Of Sunday 30th
For the upcoming trading day on Sunday, 30th we expect Bank of Sharjah to open at $0.526, and during the day (based on 14 day Average True Range), to move between $0.521 and $0.535, which gives a possible trading interval of +/-$0.0074 (+/-1.40%) up or down from last closing price. If Bank of Sharjah takes out the full calculated possible swing range there will be an estimated 2.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.530 (0.38%) than the support at $0.520 (1.52%), 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 Bank of Sharjah stock A Buy?
The Bank of Sharjah stock holds several negative signals and despite the positive trend, we believe Bank of Sharjah will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.268 Sell Candidate Unchanged
Predicted Opening Price for Bank of Sharjah of Sunday, June 30, 2024
| Fair opening price June 30, 2024 | Current price |
|---|---|
| $0.526 ( 0.379%) | $0.528 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BOS.UH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.536 | 1.52% |
| R2 | 0.532 | 0.792% |
| R1 | 0.530 | 0.345% |
| Price | 0.528 | |
| S1 | 0.522 | -1.10% |
| S2 | 0.520 | -1.55% |
| S3 | 0.516 | -2.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.599 | 13.45% |
| R2 | 0.585 | 10.80% |
| R1 | 0.530 | 0.379% |
| Price | 0.528 | |
| S1 | 0.520 | -1.52% |
| S2 | 0.501 | -5.11% |
| S3 | 0.460 | -12.88% |
FAQ
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