Tian Ruixiang 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
Tian Ruixiang Holdings Ltd stock price ended at $0.530 on Thursday, after gaining 2.71%.
(Updated on May 02, 2024)
The Tian Ruixiang Holdings Ltd stock price gained 2.71% on the last trading day (Thursday, 2nd May 2024), rising from $0.516 to $0.530. During the last trading day the stock fluctuated 9.54% from a day low at $0.501 to a day high of $0.549. The price has fallen in 7 of the last 10 days and is down by -33.73% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 76 thousand more shares were traded than the day before. In total, 149 thousand shares were bought and sold for approximately $78.90 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.05% during the next 3 months and, with a 90% probability hold a price between $0.363 and $0.716 at the end of this 3-month period.
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TIRX Signals & Forecast
The Tian Ruixiang 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 $0.513 and $0.510. 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). Tian Ruixiang Holdings 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. 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, April 18, 2024, and so far it has fallen -33.73%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Tian Ruixiang Holdings Ltd stock
Tian Ruixiang Holdings Ltd finds support from accumulated volume at $0.510 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 $0.0478 between high and low, or 9.54%. For the last week, the stock has had daily average volatility of 9.21%.
Our recommended stop-loss: $0.499 (-5.96%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (TIRX) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Tian Ruixiang Holdings Ltd to open at $0.527, and during the day (based on 14 day Average True Range), to move between $0.433 and $0.627, which gives a possible trading interval of +/-$0.0969 (+/-18.28%) up or down from last closing price. If Tian Ruixiang Holdings Ltd takes out the full calculated possible swing range there will be an estimated 36.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.510 (3.81%) than the resistance at $0.599 (12.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tian Ruixiang Holdings Ltd stock A Buy?
Tian Ruixiang Holdings Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.159 Hold/Accumulate Unchanged
Predicted Opening Price for Tian Ruixiang Holdings Ltd of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.527 ( 0.666%) | $0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TIRX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.574 | 8.35 % | |
| R2 | 0.556 | 4.91 % | ||
| R1 | 0.545 | 2.78 % | ||
| Current price: | 0.530 | |||
| Support | S1 | 0.508 | -4.11 % | |
| S2 | 0.497 | -6.24 % | ||
| S3 | 0.479 | -9.68 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.649 | 22.46 % | |
| R2 | 0.624 | 17.63 % | ||
| R1 | 0.599 | 12.98 % | ||
| Current price | 0.530 | |||
| Support | S1 | 0.510 | -3.81% | |
| S2 | 0.485 | -8.58% | ||
| S3 | 0.472 | -10.98% |
FAQ
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