E-Home Household Service Holdings Ltd 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
High volatility in E-Home Household Service Holdings Ltd stock price on Tuesday which ended trading at $1.07
(Updated on Jul 02, 2024)
The E-Home Household Service Holdings Ltd stock price gained 4.90% on the last trading day (Tuesday, 2nd Jul 2024), rising from $1.02 to $1.07. During the last trading day the stock fluctuated 10.11% from a day low at $1.00 to a day high of $1.10. The price has risen in 6 of the last 10 days and is up by 19.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $2.36 million.
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 $1.48 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Due to the high volatility and the trend direction we are not able to give forecast range for this stock. 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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EJH Signals & Forecast
Mostly positive signals in the chart today. The E-Home Household Service Holdings Ltd 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 $1.01 and $0.750. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 142.91%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for E-Home Household Service Holdings Ltd stock
E-Home Household Service Holdings Ltd finds support from accumulated volume at $1.03 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.101 between high and low, or 10.11%. For the last week, the stock has had daily average volatility of 8.60%.
The E-Home Household Service Holdings Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $1.03 (-3.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (EJH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect E-Home Household Service Holdings Limited to open at $1.06, and during the day (based on 14 day Average True Range), to move between $0.95 and $1.19, which gives a possible trading interval of +/-$0.121 (+/-11.31%) up or down from last closing price. If E-Home Household Service Holdings Limited takes out the full calculated possible swing range there will be an estimated 22.61% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $1.03, some $0.0400 (3.74%) from the current price of $1.07, our system finds the risk reward attractive.
Is E-Home Household Service Holdings Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.293 Buy Candidate Unchanged
Predicted Opening Price for E-Home Household Service Holdings Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.06 ( 1.28%) | $1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EJH
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.16 | 8.16% |
| R2 | 1.12 | 4.56% |
| R1 | 1.09 | 2.33% |
| Price | 1.07 | |
| S1 | 1.02 | -4.88% |
| S2 | 0.99 | -7.11% |
| S3 | 0.96 | -10.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1.07 | |
| S1 | 1.03 | -3.74% |
| S2 | 1.02 | -4.67% |
| S3 | 0.90 | -15.89% |
FAQ
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