Koolearn Technology Holding Limited Stock Forecast
Red day on Tuesday for Koolearn Technology Holding Limited
(Updated on Jul 02, 2024)
The Koolearn Technology Holding Limited stock price fell by -2.69% on the last day (Tuesday, 2nd Jul 2024) from HK$12.62 to HK$12.28. During the last trading day the stock fluctuated 5.07% from a day low at HK$12.22 to a day high of HK$12.84. The price has fallen in 6 of the last 10 days and is down by -13.15% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 10 million shares were bought and sold for approximately HK$116.90 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$11.98 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -18.26% during the next 3 months and, with a 90% probability hold a price between HK$9.79 and HK$14.49 at the end of this 3-month period.
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1797.HK Signals & Forecast
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 Koolearn Technology Holding Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$13.10 and HK$15.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -35.84%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Koolearn Technology Holding Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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$0.620 between high and low, or 5.07%. For the last week, the stock has had daily average volatility of 6.15%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Koolearn Technology Holding Limited to open at HK$12.45, and during the day (based on 14 day Average True Range), to move between HK$11.40 and HK$13.16, which gives a possible trading interval of +/-HK$0.88 (+/-7.15%) 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 14.29% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$12.76, some HK$0.480 (3.91%) from the current price of HK$12.28, our system finds the risk reward not very attractive.
Is Koolearn Technology Holding Limited stock A Buy?
Koolearn Technology Holding Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.681 Strong Sell Candidate Unchanged
Predicted Opening Price for Koolearn Technology Holding Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$12.45 ( 1.36%) | HK$12.28 |
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 | |
|---|---|---|
| R3 | 13.07 | 6.41% |
| R2 | 12.83 | 4.48% |
| R1 | 12.68 | 3.29% |
| Price | 12.28 | |
| S1 | 12.21 | -0.571% |
| S2 | 12.06 | -1.76% |
| S3 | 11.83 | -3.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 14.48 | 17.92% |
| R2 | 13.90 | 13.19% |
| R1 | 12.76 | 3.91% |
| Price | 12.28 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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