Virscend Education Company Limited Stock Forecast

Virscend Education Company Limited stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)

1565.HK Signals & Forecast

The Virscend Education Company Limited 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 HK$0.167 and HK$0.169. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 10.32%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Virscend Education Company Limited stock

Virscend Education Company Limited finds support from accumulated volume at HK$0.170 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0080 between high and low, or 4.91%. For the last week the stock has had daily average volatility of 7.41%.

Our recommended stop-loss: HK$0.165 (-3.42%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)

Trading Expectations (1565.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Virscend Education Company Limited to open at HK$0.168, and during the day (based on 14 day Average True Range), to move between HK$0.161 and HK$0.181, which gives a possible trading interval of +/-HK$0.0104 (+/-6.07%) up or down from last closing price. If Virscend Education Company Limited takes out the full calculated possible swing range there will be an estimated 12.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$0.170 (0.58%) than the resistance at HK$0.173 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Virscend Education Company Limited stock A Buy?

Virscend Education Company 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.271 Hold/Accumulate Downgraded

Predicted Opening Price for Virscend Education Company Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.