Oriental Culture Holding 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
Red day on Tuesday for Oriental Culture Holding LTD stock after losing 0%
(Updated on Jul 02, 2024)
No changes to the price of Oriental Culture Holding LTD stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 9.45% from a day low at $1.27 to a day high of $1.39. The price has risen in 6 of the last 10 days and is up by 23.64% over the past 2 weeks.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Oriental Culture Holding LTD stock with a 90% probability to be traded between $0.99 and $1.72 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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OCG Signals & Forecast
The Oriental Culture Holding 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 $1.30 and $1.28. 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). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Monday, July 01, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Oriental Culture Holding LTD stock
On the downside, the stock finds support just below today's level from accumulated volume at $1.16 and $1.09. 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, Oriental Culture Holding LTD finds support just below today's level at $1.16. If this is broken, then the next support from accumulated volume will be at $1.09 and $1.06.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.120 between high and low, or 9.45%. For the last week, the stock has had daily average volatility of 5.96%.
Our recommended stop-loss: $1.31 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (OCG) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Oriental Culture Holding LTD to open at $1.34, and during the day (based on 14 day Average True Range), to move between $1.24 and $1.48, which gives a possible trading interval of +/-$0.121 (+/-8.89%) up or down from last closing price. If Oriental Culture Holding LTD takes out the full calculated possible swing range there will be an estimated 17.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.45 (6.62%) than the support at $1.16 (14.71%), 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 Oriental Culture Holding LTD stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Oriental Culture Holding LTD stock to perform well in the short-term period.
Current score: 1.888 Buy Candidate Unchanged
Predicted Opening Price for Oriental Culture Holding LTD of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $1.34 ( 1.47%) | $1.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OCG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.46 | 7.35% |
| R2 | 1.41 | 3.98% |
| R1 | 1.39 | 1.90% |
| Price | 1.36 | |
| S1 | 1.29 | -4.84% |
| S2 | 1.27 | -6.92% |
| S3 | 1.22 | -10.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.58 | 15.81% |
| R2 | 1.51 | 11.03% |
| R1 | 1.45 | 6.62% |
| Price | 1.36 | |
| S1 | 1.16 | -14.71% |
| S2 | 1.09 | -19.85% |
| S3 | 1.06 | -22.06% |
FAQ
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