China Chuanglian Education Financial Stock Forecast

High volatility in China Chuanglian Education Financial stock price on Tuesday which ended trading at HK$0.0160
(Updated on Jul 02, 2024)

2371.HK Signals & Forecast

There are few to no technical positive signals at the moment. 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$0.0169 and HK$0.0178. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 06, 2024, and so far it has fallen -15.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). China Chuanglian Education Financial 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 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 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$0.0020 between high and low, or 14.29%. For the last week, the stock has had daily average volatility of 5.36%.

Our recommended stop-loss: HK$0.0153 (-4.09%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (2371.HK) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect China Chuanglian Education Financial Group Limited to open at HK$0.0153, and during the day (based on 14 day Average True Range), to move between HK$0.0147 and HK$0.0173, which gives a possible trading interval of +/-HK$0.0013 (+/-8.23%) 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 16.47% 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 this should be a sell candidate, but due to the general chance for a turnaround situation 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 Chuanglian Education Financial Group Limited of Wednesday, July 3, 2024

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