Edianyun Limited Stock Forecast
Edianyun Limited stock price down 1.58% on Friday
(Updated on Jun 28, 2024)
The Edianyun Limited stock price fell by -1.58% on the last day (Friday, 28th Jun 2024) from HK$1.90 to HK$1.87. During the last trading day the stock fluctuated 5.43% from a day low at HK$1.84 to a day high of HK$1.94. The price has fallen in 6 of the last 10 days and is down by -23.67% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 3 million shares were bought and sold for approximately HK$6.51 million.
Given the current short-term trend, the stock is expected to fall -20.87% during the next 3 months and, with a 90% probability hold a price between HK$1.48 and HK$2.33 at the end of this 3-month period.
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2416.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 Edianyun 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$2.09 and HK$2.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -43.50%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Edianyun 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$0.1000 between high and low, or 5.43%. For the last week, the stock has had daily average volatility of 9.18%.
Edianyun Limited is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2416.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Edianyun Limited to open at HK$1.88, and during the day (based on 14 day Average True Range), to move between HK$1.69 and HK$2.05, which gives a possible trading interval of +/-HK$0.179 (+/-9.59%) up or down from last closing price. If Edianyun Limited takes out the full calculated possible swing range there will be an estimated 19.18% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$2.03, some HK$0.160 (8.56%) from the current price of HK$1.87, our system finds the risk reward not very attractive.
Is Edianyun Limited stock A Buy?
Edianyun 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: -5.403 Strong Sell Candidate Unchanged
Predicted Opening Price for Edianyun Limited of Tuesday, July 2, 2024
Fair opening price July 2, 2024 | Current price |
---|---|
HK$1.88 ( 0.713%) | HK$1.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2416.HK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.98 | 6.06% |
R2 | 1.95 | 4.02% |
R1 | 1.92 | 2.76% |
Price | 1.87 | |
S1 | 1.85 | -1.33% |
S2 | 1.82 | -2.59% |
S3 | 1.78 | -4.63% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 2.27 | 21.39% |
R2 | 2.09 | 11.76% |
R1 | 2.03 | 8.56% |
Price | 1.87 | |
S1 | 0 | - |
S2 | 0 | - |
S3 | 0 | - |
FAQ
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