China Beststudy Education Group Stock Forecast
China Beststudy Education Group stock price down 2.87% on Wednesday
(Updated on May 22, 2024)
The China Beststudy Education Group stock price fell by -2.87% on the last day (Wednesday, 22nd May 2024) from HK$3.49 to HK$3.39. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 5.04% from a day low at HK$3.37 to a day high of HK$3.54. The price has fallen in 6 of the last 10 days but is still up by 2.73% over the past 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 -68 thousand shares and in total, 1 million shares were bought and sold for approximately HK$4.94 million.
The stock lies in the middle of a very 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 32.23% during the next 3 months and, with a 90% probability hold a price between HK$3.58 and HK$4.99 at the end of this 3-month period.
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3978.HK Signals & Forecast
The China Beststudy Education Group stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately HK$3.54. On a fall, the stock will find some support from the long-term average at approximately HK$3.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, May 16, 2024, and so far it has fallen -8.63%. 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 China Beststudy Education Group stock
China Beststudy Education Group finds support from accumulated volume at HK$3.38 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 HK$0.170 between high and low, or 5.04%. For the last week, the stock has had daily average volatility of 6.10%.
Our recommended stop-loss: HK$3.22 (-5.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 28 days ago.)
Trading Expectations (3978.HK) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect China Beststudy Education Group to open at HK$3.43, and during the day (based on 14 day Average True Range), to move between HK$3.14 and HK$3.64, which gives a possible trading interval of +/-HK$0.250 (+/-7.36%) up or down from last closing price. If China Beststudy Education Group takes out the full calculated possible swing range there will be an estimated 14.73% 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$3.38 (0.29%) than the resistance at HK$3.45 (1.77%), 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 Beststudy Education Group 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 Beststudy Education Group stock to perform well in the short-term.
Current score: 1.101 Buy Candidate Unchanged
Predicted Opening Price for China Beststudy Education Group of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| HK$3.43 ( 1.28%) | HK$3.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3978.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.60 | 6.29 % | |
| R2 | 3.54 | 4.38 % | ||
| R1 | 3.50 | 3.19 % | ||
| Current price: | 3.39 | |||
| Support | S1 | 3.37 | -0.637 % | |
| S2 | 3.33 | -1.82 % | ||
| S3 | 3.26 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.66 | 7.96 % | |
| R2 | 3.49 | 2.95 % | ||
| R1 | 3.45 | 1.77 % | ||
| Current price | 3.39 | |||
| Support | S1 | 3.38 | -0.295% | |
| S2 | 3.10 | -8.55% | ||
| S3 | 3.01 | -11.21% |
3978 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 06, 2024 | HK$0.0350 | 1.03% |
| 2 | May 18, 2021 | May 18, 2021 | May 18, 2021 | HK$0.0550 | 2.57% |
| 3 | Mar 25, 2020 | May 25, 2020 | Jun 09, 2020 | HK$0.0200 | 0.517% |
FAQ
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