China Gingko Education Group Co Ltd Stock Forecast

Stronger technical forecast for China Gingko Education Group Co Ltd stock price after Monday trading.
(Updated on Jun 17, 2024)

1851.HK Signals & Forecast

The China Gingko Education Group Co Ltd 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$0.82 and HK$0.784. 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 14.86%. 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. China Gingko Education Group Co Ltd 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 very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Gingko Education Group Co Ltd stock

China Gingko Education Group Co Ltd finds support from accumulated volume at HK$0.82 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.706%.

Our recommended stop-loss: HK$0.83 (-2.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 60 days ago.)

Trading Expectations (1851.HK) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect China Gingko Education Group Company Limited to open at HK$0.85, and during the day (based on 14 day Average True Range), to move between HK$0.83 and HK$0.87, which gives a possible trading interval of +/-HK$0.0180 (+/-2.12%) up or down from last closing price. If China Gingko Education Group Company Limited takes out the full calculated possible swing range there will be an estimated 4.23% 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$0.88 (3.53%) than the support at HK$0.82 (3.53%), 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 China Gingko Education Group Company Limited stock A Buy?

China Gingko Education Group Co Ltd 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: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for China Gingko Education Group Company Limited of Tuesday, June 18, 2024

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