China Xinhua Education Group Limited Stock Forecast
Red day on Tuesday for China Xinhua Education Group Limited stock after losing 4.48%
(Updated on Jul 02, 2024)
The China Xinhua Education Group Limited stock price fell by -4.48% on the last day (Tuesday, 2nd Jul 2024) from HK$0.670 to HK$0.640. During the last trading day the stock fluctuated 3.17% from a day low at HK$0.630 to a day high of HK$0.650. The price has been going up and down for this period, and there has been a -11.11% loss for the last 2 weeks. 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 -284 thousand shares and in total, 91 thousand shares were bought and sold for approximately HK$58.24 thousand.
Given the current short-term trend, the stock is expected to rise 2.42% during the next 3 months and, with a 90% probability hold a price between HK$0.655 and HK$0.83 at the end of this 3-month period.
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2779.HK Signals & Forecast
There are few to no technical positive signals at the moment. The China Xinhua Education Group 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$0.660 and HK$0.739. 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 -20.00%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Xinhua Education Group 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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0200 between high and low, or 3.17%. For the last week the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2779.HK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect China Xinhua Education Group Limited to open at HK$0.640, and during the day (based on 14 day Average True Range), to move between HK$0.608 and HK$0.672, which gives a possible trading interval of +/-HK$0.0316 (+/-4.94%) up or down from last closing price. If China Xinhua Education Group Limited takes out the full calculated possible swing range there will be an estimated 9.88% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ HK$0.670, some HK$0.0300 (4.69%) from the current price of HK$0.640, our system finds the risk reward not very attractive.
Is China Xinhua Education Group Limited stock A Buy?
The China Xinhua Education Group Limited stock holds several negative signals and despite the positive trend, we believe China Xinhua Education Group Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.885 Sell Candidate Unchanged
Predicted Opening Price for China Xinhua Education Group Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| HK$0.640 ( 0%) | HK$0.640 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2779.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.660 | 3.13% |
| R2 | 0.652 | 1.93% |
| R1 | 0.648 | 1.19% |
| Price | 0.640 | |
| S1 | 0.632 | -1.19% |
| S2 | 0.628 | -1.93% |
| S3 | 0.620 | -3.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.770 | 20.31% |
| R2 | 0.690 | 7.81% |
| R1 | 0.670 | 4.69% |
| Price | 0.640 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
2779 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jul 09, 2024 | HK$0.0632 | 9.88% |
| 2 | Jun 20, 2023 | Jun 20, 2023 | Jun 20, 2023 | HK$0.0656 | 8.20% |
| 3 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | HK$0.108 | 8.17% |
| 4 | Jun 25, 2021 | Jun 25, 2021 | Jun 25, 2021 | HK$0.0723 | 3.23% |
| 5 | Mar 25, 2020 | Jun 26, 2020 | Jul 17, 2020 | HK$0.0553 | 2.48% |
FAQ
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