Qtone Education Group Guangdong Ltd Stock Forecast
Green day on Wednesday for Qtone Education Group Guangdong Ltd stock after gaining 1.69%
(Updated on Apr 24, 2024)
The Qtone Education Group Guangdong Ltd stock price gained 1.69% on the last trading day (Wednesday, 24th Apr 2024), rising from ¥4.14 to ¥4.21. During the last trading day the stock fluctuated 5.49% from a day low at ¥4.01 to a day high of ¥4.23. The price has fallen in 6 of the last 10 days and is down by -6.65% for this period. Volume fell on the last day by -4 million shares and in total, 12 million shares were bought and sold for approximately ¥49.28 million. 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Qtone Education Group Guangdong Ltd stock with a 90% probability to be traded between ¥3.52 and ¥5.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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300359.SZ Signals & Forecast
There are mixed signals in the stock today. The Qtone Education Group Guangdong Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ¥4.73. On a fall, the stock will find some support from the short-term average at ¥4.06. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.92%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Qtone Education Group Guangdong Ltd stock
Qtone Education Group Guangdong Ltd finds support from accumulated volume at ¥4.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ¥0.220 between high and low, or 5.49%. For the last week, the stock has had daily average volatility of 9.04%.
Our recommended stop-loss: ¥4.05 (-3.86%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (300359.SZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Qtone Education Group Guangdong Ltd to open at ¥4.15, and during the day (based on 14 day Average True Range), to move between ¥3.85 and ¥4.57, which gives a possible trading interval of +/-¥0.356 (+/-8.45%) up or down from last closing price. If Qtone Education Group Guangdong Ltd takes out the full calculated possible swing range there will be an estimated 16.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥4.14 (1.66%) than the resistance at ¥4.59 (9.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Qtone Education Group Guangdong Ltd stock A Buy?
Qtone Education Group Guangdong Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.457 Hold/Accumulate Unchanged
Predicted Opening Price for Qtone Education Group Guangdong Ltd of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ¥4.15 ( 1.43%) | ¥4.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 300359.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.37 | 3.80 % | |
| R2 | 4.29 | 1.80 % | ||
| R1 | 4.23 | 0.571 % | ||
| Current price: | 4.21 | |||
| Support | S1 | 4.07 | -3.42 % | |
| S2 | 4.01 | -4.65 % | ||
| S3 | 3.93 | -6.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.26 | 24.94 % | |
| R2 | 5.14 | 22.09 % | ||
| R1 | 4.59 | 9.03 % | ||
| Current price | 4.21 | |||
| Support | S1 | 4.14 | -1.66% | |
| S2 | 3.62 | -14.01% | ||
| S3 | 3.57 | -15.20% |
300359 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 23, 2018 | Jul 23, 2018 | Jul 23, 2018 | ¥0.0200 | 0.282% |
| 2 | Jul 06, 2017 | Jul 06, 2017 | Jul 06, 2017 | ¥0.0260 | 0.195% |
| 3 | May 17, 2016 | May 17, 2016 | May 17, 2016 | ¥0.0232 | 0.0863% |
| 4 | May 15, 2015 | May 15, 2015 | May 15, 2015 | ¥0.0268 | 0.0288% |
| 5 | May 20, 2014 | May 20, 2014 | May 20, 2014 | ¥0.0152 | 0.232% |
FAQ
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