China Xinhua Education Group Limited Stock Forecast
Green day on Wednesday for China Xinhua Education Group Limited
(Updated on Apr 24, 2024)
The China Xinhua Education Group Limited stock price gained 1.47% on the last trading day (Wednesday, 24th Apr 2024), rising from HK$0.680 to HK$0.690. During the last trading day the stock fluctuated 1.47% from a day low at HK$0.680 to a day high of HK$0.690. The price has been going up and down for this period, and there has been a -1.43% loss for the last 2 weeks. Volume fell on the last day by -374 thousand shares and in total, 469 thousand shares were bought and sold for approximately HK$323.61 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 31.71% during the next 3 months and, with a 90% probability hold a price between HK$0.84 and HK$0.96 at the end of this 3-month period.
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2779.HK Signals & Forecast
The China Xinhua Education Group Limited 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$0.683 and HK$0.673. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for China Xinhua Education Group Limited stock
China Xinhua Education Group Limited finds support from accumulated volume at HK$0.680 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved HK$0.0100 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: HK$0.665 (-3.65%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (2779.HK) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect China Xinhua Education Group Limited to open at HK$0.687, and during the day (based on 14 day Average True Range), to move between HK$0.665 and HK$0.715, which gives a possible trading interval of +/-HK$0.0250 (+/-3.63%) 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 7.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$0.680 (1.45%) than the resistance at HK$0.700 (1.45%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is China Xinhua Education Group Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for China Xinhua Education Group Limited stock to perform well in the short-term.
Current score: 2.791 Buy Candidate Unchanged
Predicted Opening Price for China Xinhua Education Group Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| HK$0.687 ( 0.483%) | HK$0.690 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 0.697 | 0.97 % | |
| R2 | 0.693 | 0.413 % | ||
| R1 | 0.690 | 0.0705 % | ||
| Current price: | 0.690 | |||
| Support | S1 | 0.683 | -1.04 % | |
| S2 | 0.680 | -1.38 % | ||
| S3 | 0.677 | -1.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0.700 | 1.45 % | ||
| Current price | 0.690 | |||
| Support | S1 | 0.680 | -1.45% | |
| S2 | 0.670 | -2.90% | ||
| S3 | 0.570 | -17.39% |
2779 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jul 09, 2024 | HK$0.0632 | 9.16% |
| 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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