Lenovo Group 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
Lenovo Group Limited stock price down 2.67% on Friday
(Updated on May 31, 2024)
The Lenovo Group Limited stock price fell by -2.67% on the last day (Friday, 31st May 2024) from $1.50 to $1.46. During the last trading day the stock fluctuated 3.56% from a day low at $1.46 to a day high of $1.51. The price has risen in 6 of the last 10 days and is up by 11.45% over the past 2 weeks. Volume has increased on the last day by 3 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, 4 thousand shares were bought and sold for approximately $6.45 thousand.
The stock lies in the upper part of a very wide and strong rising 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 $1.50 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 13.12% during the next 3 months and, with a 90% probability hold a price between $1.26 and $1.70 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
LNVGF Signals & Forecast
The Lenovo Group Limited 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 $1.46 and $1.23. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -2.67%. Further fall is indicated until a new bottom pivot has been found. Lenovo Group Limited 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.
Support, Risk & Stop-loss for Lenovo Group Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.31 and $1.24. 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, Lenovo Group Limited finds support just below today's level at $1.31. If this is broken, then the next support from accumulated volume will be at $1.24 and $1.13.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0520 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: $1.41 (-3.30%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (LNVGF) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Lenovo Group Limited to open at $1.48, and during the day (based on 14 day Average True Range), to move between $1.40 and $1.52, which gives a possible trading interval of +/-$0.0561 (+/-3.84%) up or down from last closing price. If Lenovo Group Limited takes out the full calculated possible swing range there will be an estimated 7.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.48 (1.23%) than the support at $1.31 (10.27%), 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 Lenovo Group Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Lenovo Group Limited stock to perform well in the short-term.
Current score: 1.321 Buy Candidate Unchanged
Predicted Opening Price for Lenovo Group Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| $1.48 ( 1.19%) | $1.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LNVGF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.53 | 4.75 % | |
| R2 | 1.51 | 3.39 % | ||
| R1 | 1.50 | 2.55 % | ||
| Current price: | 1.46 | |||
| Support | S1 | 1.46 | -0.173 % | |
| S2 | 1.45 | -1.01 % | ||
| S3 | 1.43 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.50 | 2.74 % | |
| R2 | 1.48 | 1.37 % | ||
| R1 | 1.48 | 1.23 % | ||
| Current price | 1.46 | |||
| Support | S1 | 1.31 | -10.27% | |
| S2 | 1.24 | -15.41% | ||
| S3 | 1.13 | -22.60% |
LNVGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 31, 2024 | Jul 31, 2024 | Aug 14, 2024 | $0.0384 | 2.63% |
| 2 | Nov 22, 2023 | Nov 28, 2023 | Dec 13, 2023 | $0.0800 | 6.35% |
| 3 | Jul 26, 2023 | Jul 26, 2023 | Aug 10, 2023 | $0.0380 | 3.73% |
| 4 | Nov 25, 2022 | Nov 25, 2022 | Dec 09, 2022 | $0.0100 | 1.28% |
| 5 | Aug 01, 2022 | Aug 01, 2022 | Aug 01, 2022 | $0.0380 | 4.04% |
FAQ
Click here for our free guide on how to buy Lenovo Group Limited Stock.
