Ostin Technology Group Co., 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
Volatile ride for Ostin Technology Group Co., Ltd. stock price on Friday moving between $0.430 and $0.480
(Updated on May 17, 2024)
The Ostin Technology Group Co., Ltd. stock price gained 11.32% on the last trading day (Friday, 17th May 2024), rising from $0.419 to $0.466. During the last trading day the stock fluctuated 11.58% from a day low at $0.430 to a day high of $0.480. The price has fallen in 6 of the last 10 days but is still up by 8.42% 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, 111 thousand more shares were traded than the day before. In total, 140 thousand shares were bought and sold for approximately $65.45 thousand.
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 $0.473 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.82% during the next 3 months and, with a 90% probability hold a price between $0.276 and $0.365 at the end of this 3-month period. 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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OST Signals & Forecast
Mostly positive signals in the chart today. The Ostin Technology Group Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.424 and $0.444. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 16.50%. 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). Ostin Technology Group Co., Ltd. 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.
Support, Risk & Stop-loss for Ostin Technology Group Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.430 and $0.430. 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, Ostin Technology Group Co., Ltd. finds support just below today's level at $0.430. If this is broken, then the next support from accumulated volume will be at $0.430 and $0.411.
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 $0.0498 between high and low, or 11.58%. For the last week, the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: $0.441 (-5.39%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (OST) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ostin Technology Group Co., Ltd. to open at $0.459, and during the day (based on 14 day Average True Range), to move between $0.427 and $0.505, which gives a possible trading interval of +/-$0.0393 (+/-8.44%) up or down from last closing price. If Ostin Technology Group Co., Ltd. takes out the full calculated possible swing range there will be an estimated 16.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.430 (7.66%) than the resistance at $0.509 (9.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ostin Technology Group Co., Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.868 Buy Candidate Upgraded
Predicted Opening Price for Ostin Technology Group Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.459 ( 1.56%) | $0.466 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OST
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.509 | 9.13 % | |
| R2 | 0.490 | 5.05 % | ||
| R1 | 0.478 | 2.52 % | ||
| Current price: | 0.466 | |||
| Support | S1 | 0.440 | -5.64 % | |
| S2 | 0.428 | -8.16 % | ||
| S3 | 0.409 | -12.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.550 | 18.05 % | |
| R2 | 0.535 | 14.72 % | ||
| R1 | 0.509 | 9.23 % | ||
| Current price | 0.466 | |||
| Support | S1 | 0.430 | -7.66% | |
| S2 | 0.430 | -7.70% | ||
| S3 | 0.411 | -11.80% |
FAQ
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