China Xinhua Education Group Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
China Xinhua Education Group Limited stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The China Xinhua Education Group Limited stock price gained 1.37% on the last trading day (Friday, 3rd May 2024), rising from HK$0.730 to HK$0.740. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.05% from a day low at HK$0.740 to a day high of HK$0.770. The price has risen in 5 of the last 10 days and is up by 7.25% over the past 2 weeks. Volume fell on the last day by -986 thousand shares and in total, 196 thousand shares were bought and sold for approximately HK$145.04 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 21.63% during the next 3 months and, with a 90% probability hold a price between HK$0.783 and HK$0.93 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$0.707 and HK$0.679. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 25.42%. Further rise is indicated until a new top pivot has been found. 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. 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
On the downside, the stock finds support just below today's level from accumulated volume at HK$0.700 and HK$0.680. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, China Xinhua Education Group Limited finds support just below today's level at HK$0.700. If this is broken, then the next support from accumulated volume will be at HK$0.680 and HK$0.670.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved HK$0.0300 between high and low, or 4.05%. For the last week the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: HK$0.713 (-3.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (2779.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Xinhua Education Group Limited to open at HK$0.750, and during the day (based on 14 day Average True Range), to move between HK$0.712 and HK$0.768, which gives a possible trading interval of +/-HK$0.0282 (+/-3.82%) 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 7.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ HK$0.700, some HK$0.0400 (5.41%) from the current price of HK$0.740, our system finds the risk reward attractive.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.448 Buy Candidate Downgraded
Predicted Opening Price for China Xinhua Education Group Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$0.750 ( 1.35%) | HK$0.740 |
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 | 0.780 | 5.41 % | |
| R2 | 0.769 | 3.86 % | ||
| R1 | 0.761 | 2.90 % | ||
| Current price: | 0.740 | |||
| Support | S1 | 0.739 | -0.197 % | |
| S2 | 0.731 | -1.15 % | ||
| S3 | 0.720 | -2.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.740 | |||
| Support | S1 | 0.700 | -5.41% | |
| S2 | 0.680 | -8.11% | ||
| S3 | 0.670 | -9.46% |
2779 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 20, 2024 | Jun 20, 2024 | Jul 09, 2024 | HK$0.0632 | 8.54% |
| 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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