Xunlei Limited Stock Forecast
Stronger technical forecast for Xunlei Limited stock price after Thursday trading.
(Updated on Apr 18, 2024)
No changes to the price of Xunlei Limited stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 1.36% from a day low at $1.47 to a day high of $1.49. The price has fallen in 5 of the last 10 days and is down by -2.33% for this period.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $1.47 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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XNET Signals & Forecast
There are mixed signals in the stock today. The Xunlei Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.49 and $1.50. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has fallen 0%. 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). 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".
Support, Risk & Stop-loss for Xunlei Limited stock
Xunlei Limited finds support from accumulated volume at $1.47 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0200 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: $1.38 (-6.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (XNET) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Xunlei Limited to open at $1.48, and during the day (based on 14 day Average True Range), to move between $1.43 and $1.51, which gives a possible trading interval of +/-$0.0395 (+/-2.69%) up or down from last closing price. If Xunlei Limited takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.47 (0.12%) than the resistance at $1.48 (0.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Xunlei Limited stock A Buy?
Xunlei Limited 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.731 Hold/Accumulate Upgraded
Predicted Opening Price for Xunlei Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.48 ( 0.454%) | $1.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XNET
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.50 | 1.81 % | |
| R2 | 1.49 | 1.29 % | ||
| R1 | 1.48 | 0.97 % | ||
| Current price: | 1.47 | |||
| Support | S1 | 1.47 | -0.0662 % | |
| S2 | 1.46 | -0.387 % | ||
| S3 | 1.46 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.51 | 2.72 % | |
| R2 | 1.49 | 1.36 % | ||
| R1 | 1.48 | 0.680 % | ||
| Current price | 1.47 | |||
| Support | S1 | 1.47 | -0.116% | |
| S2 | 1.46 | -0.680% | ||
| S3 | 0 | . |
FAQ
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