Qtone Education Group Guangdong Ltd Stock Forecast

Evaluation of Qtone Education Group Guangdong Ltd stock downgraded after the last trading session.
(Updated on Apr 30, 2024)

300359.SZ 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 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 ¥4.66. On a fall, the stock will find some support from the short-term average at ¥4.23. 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. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.226%. 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 Qtone Education Group Guangdong Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ¥4.17 and ¥3.62. 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, Qtone Education Group Guangdong Ltd finds support just below today's level at ¥4.17. If this is broken, then the next support from accumulated volume will be at ¥3.62 and ¥3.57.

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 ¥0.280 between high and low, or 6.68%. For the last week, the stock has had daily average volatility of 6.22%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (300359.SZ) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Qtone Education Group Guangdong Ltd to open at ¥4.36, and during the day (based on 14 day Average True Range), to move between ¥4.08 and ¥4.74, which gives a possible trading interval of +/-¥0.333 (+/-7.56%) 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 15.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ¥4.59 (4.08%) than the support at ¥4.17 (5.44%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Qtone Education Group Guangdong Ltd stock A Buy?

Qtone Education Group Guangdong Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.435 Sell Candidate Downgraded

Predicted Opening Price for Qtone Education Group Guangdong Ltd of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.