Honkarakenne Oyj 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
Honkarakenne Oyj stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Honkarakenne Oyj stock price gained 0.327% on the last trading day (Friday, 17th May 2024), rising from 3.06€ to 3.07€. During the last trading day the stock fluctuated 0.327% from a day low at 3.06€ to a day high of 3.07€. The price has been going up and down for this period, and there has been a -3.46% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately 12.04€ thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.63% during the next 3 months and, with a 90% probability hold a price between 3.15€ and 3.40€ at the end of this 3-month period.
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HONBS.HE Signals & Forecast
Mostly positive signals in the chart today. The Honkarakenne Oyj stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately 3.08€. On a fall, the stock will find some support from the long-term average at approximately 3.06€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 0.99%. 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). Honkarakenne Oyj has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. 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 Thursday, April 04, 2024 and based on theory for this formation the price should fall by -6.41% to 2.87€ within 18 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Honkarakenne Oyj stock
Honkarakenne Oyj finds support from accumulated volume at 3.05€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.0100€ (0.327%) between high and low. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: 2.90€ (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (HONBS.HE) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Honkarakenne Oyj to open at 3.07€, and during the day (based on 14 day Average True Range), to move between 2.97€ and 3.17€, which gives a possible trading interval of +/-0.101€ (+/-3.29%) up or down from last closing price. If Honkarakenne Oyj takes out the full calculated possible swing range there will be an estimated 6.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 3.08€ (0.33%) than the support at 3.05€ (0.65%), 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 Honkarakenne Oyj stock A Buy?
Honkarakenne Oyj holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.098 Strong Buy Candidate Upgraded
Predicted Opening Price for Honkarakenne Oyj of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 3.07€ ( 0.109%) | 3.07€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HONBS.HE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.08 | 0.217 % | |
| R2 | 3.07 | 0.0927 % | ||
| R1 | 3.07 | 0.0159 % | ||
| Current price: | 3.07 | |||
| Support | S1 | 3.06 | -0.233 % | |
| S2 | 3.06 | -0.310 % | ||
| S3 | 3.06 | -0.434 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.10 | 0.98 % | |
| R2 | 3.09 | 0.651 % | ||
| R1 | 3.08 | 0.326 % | ||
| Current price | 3.07 | |||
| Support | S1 | 3.05 | -0.651% | |
| S2 | 2.98 | -2.93% | ||
| S3 | 2.96 | -3.58% |
HONBS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | Apr 19, 2024 | Apr 19, 2024 | 0€ | 0% |
| 2 | Apr 21, 2023 | Apr 21, 2023 | Apr 21, 2023 | 0.250€ | 5.36% |
| 3 | Apr 14, 2022 | Apr 14, 2022 | Apr 14, 2022 | 0.250€ | 4.79% |
| 4 | Apr 19, 2021 | Apr 19, 2021 | Apr 19, 2021 | 0.180€ | 2.34% |
| 5 | Jun 01, 2020 | Jun 01, 2020 | Jun 01, 2020 | 0.120€ | 3.57% |
FAQ
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