Qtone Education Group Guangdong Ltd 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
Evaluation of Qtone Education Group Guangdong Ltd stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Qtone Education Group Guangdong Ltd stock price fell by -0.226% on the last day (Tuesday, 30th Apr 2024) from ¥4.42 to ¥4.41. During the last trading day the stock fluctuated 6.68% from a day low at ¥4.19 to a day high of ¥4.47. The price has been going up and down for this period, and there has been a 15.14% gain 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 -564 thousand shares and in total, 11 million shares were bought and sold for approximately ¥49.97 million.
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 ¥3.41 and ¥5.35 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
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
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ¥4.36 ( 1.21%) | ¥4.41 |
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 | 4.64 | 5.14 % | |
| R2 | 4.53 | 2.71 % | ||
| R1 | 4.46 | 1.22 % | ||
| Current price: | 4.41 | |||
| Support | S1 | 4.25 | -3.63 % | |
| S2 | 4.18 | -5.13 % | ||
| S3 | 4.08 | -7.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.26 | 19.27 % | |
| R2 | 5.14 | 16.55 % | ||
| R1 | 4.59 | 4.08 % | ||
| Current price | 4.41 | |||
| Support | S1 | 4.17 | -5.44% | |
| S2 | 3.62 | -17.91% | ||
| S3 | 3.57 | -19.05% |
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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