China Chuanglian Education Financial Stock Forecast

China Chuanglian Education Financial stock price ended at HK$0.0160 on Friday, after losing 0%.
(Updated on May 03, 2024)

2371.HK Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 6.67%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Chuanglian Education Financial 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$0.0163 and HK$0.0184. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for China Chuanglian Education Financial stock

On the downside, the stock finds support just below today's level from accumulated volume at HK$0.0150. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at HK$ may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved HK$0.0010 between high and low, or 6.67%. For the last week the stock has had daily average volatility of 12.67%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (2371.HK) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect China Chuanglian Education Financial Group Limited to open at HK$0.0157, and during the day (based on 14 day Average True Range), to move between HK$0.0141 and HK$0.0179, which gives a possible trading interval of +/-HK$0.0019 (+/-11.63%) up or down from last closing price. If China Chuanglian Education Financial Group Limited takes out the full calculated possible swing range there will be an estimated 23.27% 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$0.0170 (6.25%) than the support at HK$0.0150 (6.25%), 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 Chuanglian Education Financial Group Limited stock A Buy?

China Chuanglian Education Financial 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: -3.644 Sell Candidate Unchanged

Predicted Opening Price for China Chuanglian Education Financial Group Limited of Monday, May 6, 2024

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