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Volatile ride for Meten EdtechX Education Group Ltd stock price on Friday moving between $0.60 and $0.75

StockInvest.us, 1 month ago

StockInvest.us

The Meten EdtechX Education Group Ltd stock price gained 3.21% on the last trading day (Friday, 29th Oct 2021), rising from $0.60 to $0.62. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 24.17% from a day low at $0.60 to a day high of $0.75. The price has risen in 6 of the last 10 days and is up by 96.01% 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, 250 million more shares were traded than the day before. In total, 672 million shares were bought and sold for approximately $415.12 million.

Aegis is very positive about METX and gave it a "Buy" rating on Jun 28, 2021. The price target was set to $3.00.

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 -26.20% during the next 3 months and, with a 90% probability hold a price between $0.17 and $0.55 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.

Meten EdtechX Education Group Ltd

Mostly positive signals in the chart today. The Meten EdtechX Education Group 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 $0.46 and $0.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 05, 2021, and so far it has risen 106.07%. 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 is rising along with the price. This is considered to be a good technical signal.

Meten EdtechX Education Group Ltd finds support from accumulated volume at $0.62 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 $0.15 between high and low, or 24.17%. For the last week, the stock has had a daily average volatility of 37.57%.

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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Check full Meten EdtechX Education Group Ltd forecast and analysis here.