Scholar Education Group Stock Forecast

Scholar Education Group stock price ended at HK$5.10 on Friday, after losing 0%.
(Updated on May 10, 2024)

1769.HK Signals & Forecast

The Scholar Education Group 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 HK$4.76 and HK$4.39. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Monday, March 04, 2024, and so far it has fallen -1.16%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Scholar Education Group stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$4.75 and HK$4.48. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Scholar Education Group finds support just below today's level at HK$4.75. If this is broken, then the next support from accumulated volume will be at HK$4.48 and HK$3.94.

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$0.430 between high and low, or 9.03%. For the last week, the stock has had daily average volatility of 7.60%.

Our recommended stop-loss: HK$4.89 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (1769.HK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Scholar Education Group to open at HK$5.02, and during the day (based on 14 day Average True Range), to move between HK$4.77 and HK$5.43, which gives a possible trading interval of +/-HK$0.331 (+/-6.48%) up or down from last closing price. If Scholar Education Group takes out the full calculated possible swing range there will be an estimated 12.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$5.16 (1.18%) than the support at HK$4.75 (6.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Scholar Education Group stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Scholar Education Group stock to perform well in the short-term.

Current score: 2.914 Buy Candidate Unchanged

Predicted Opening Price for Scholar Education Group of Monday, May 13, 2024

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