Minsheng Education Group Company Limited Stock Forecast

Stronger technical forecast for Minsheng Education Group Company Limited stock price after Friday trading.
(Updated on May 03, 2024)

1569.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 15.91%. 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. The Minsheng Education Group Company Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at HK$0.271. On a fall, the stock will find some support from the short-term average at HK$0.250. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Minsheng Education Group Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Tuesday, January 23, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

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

Minsheng Education Group Company Limited finds support from accumulated volume at HK$0.250 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.0100 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 4.92%.

Our recommended stop-loss: HK$0.248 (-2.74%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (1569.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Minsheng Education Group Company Limited to open at HK$0.255, and during the day (based on 14 day Average True Range), to move between HK$0.240 and HK$0.270, which gives a possible trading interval of +/-HK$0.0153 (+/-5.99%) up or down from last closing price. If Minsheng Education Group Company Limited takes out the full calculated possible swing range there will be an estimated 11.99% 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$0.250 (1.96%) than the resistance at HK$0.265 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Minsheng Education Group Company Limited stock A Buy?

Minsheng Education Group 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.648 Hold/Accumulate Upgraded

Predicted Opening Price for Minsheng Education Group Company Limited of Monday, May 6, 2024

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