Koolearn Technology Holding Limited Stock Forecast
Green day on Friday for Koolearn Technology Holding Limited
(Updated on Apr 19, 2024)
The Koolearn Technology Holding Limited stock price gained 0.245% on the last trading day (Friday, 19th Apr 2024), rising from HK$16.34 to HK$16.38. It 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 last trading day the stock fluctuated 5.38% from a day low at HK$16.00 to a day high of HK$16.86. The price has fallen in 6 of the last 10 days and is down by -15.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 151 thousand more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately HK$192.94 million.
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 -26.10% during the next 3 months and, with a 90% probability hold a price between HK$11.09 and HK$15.95 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.
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1797.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.36%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Koolearn Technology Holding 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$21.05. On a fall, the stock will find some support from the short-term average at HK$15.91. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Koolearn Technology Holding Limited stock
Koolearn Technology Holding Limited finds support from accumulated volume at HK$16.34 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 HK$0.86 between high and low, or 5.38%. For the last week, the stock has had daily average volatility of 4.95%.
Koolearn Technology Holding Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1797.HK) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Koolearn Technology Holding Limited to open at HK$16.41, and during the day (based on 14 day Average True Range), to move between HK$15.27 and HK$17.49, which gives a possible trading interval of +/-HK$1.11 (+/-6.75%) up or down from last closing price. If Koolearn Technology Holding Limited takes out the full calculated possible swing range there will be an estimated 13.50% 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$16.34 (0.24%) than the resistance at HK$17.10 (4.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Koolearn Technology Holding Limited stock A Buy?
Koolearn Technology Holding Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.270 Sell Candidate Unchanged
Predicted Opening Price for Koolearn Technology Holding Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| HK$16.41 ( 0.204%) | HK$16.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1797.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.27 | 5.45 % | |
| R2 | 16.94 | 3.45 % | ||
| R1 | 16.74 | 2.21 % | ||
| Current price: | 16.38 | |||
| Support | S1 | 16.08 | -1.80 % | |
| S2 | 15.88 | -3.04 % | ||
| S3 | 15.55 | -5.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.48 | 18.93 % | |
| R2 | 17.70 | 8.06 % | ||
| R1 | 17.10 | 4.40 % | ||
| Current price | 16.38 | |||
| Support | S1 | 16.34 | -0.244% | |
| S2 | 16.00 | -2.32% | ||
| S3 | 15.70 | -4.15% |
FAQ
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