China Beststudy Education Group 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
Red day on Thursday for China Beststudy Education Group stock after losing 0.90%
(Updated on Jun 20, 2024)
The China Beststudy Education Group stock price fell by -0.90% on the last day (Thursday, 20th Jun 2024) from HK$3.33 to HK$3.30. During the last trading day the stock fluctuated 2.80% from a day low at HK$3.21 to a day high of HK$3.30. The price has fallen in 6 of the last 10 days and is down by -6.78% for this period. Volume has increased on the last day by 236 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately HK$4.56 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at HK$3.23 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 19.92% during the next 3 months and, with a 90% probability hold a price between HK$3.87 and HK$4.77 at the end of this 3-month period.
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3978.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.610%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The China Beststudy Education Group stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at HK$3.38 and HK$3.43. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for China Beststudy Education Group stock
China Beststudy Education Group finds support from accumulated volume at HK$3.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved HK$0.0900 between high and low, or 2.80%. For the last week, the stock has had daily average volatility of 4.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3978.HK) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect China Beststudy Education Group to open at HK$3.27, and during the day (based on 14 day Average True Range), to move between HK$3.08 and HK$3.52, which gives a possible trading interval of +/-HK$0.223 (+/-6.75%) 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 13.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at HK$3.38 (2.42%) than the support at HK$3.19 (3.33%), 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 China Beststudy Education Group stock A Buy?
The China Beststudy Education Group stock holds several negative signals and despite the positive trend, we believe China Beststudy Education Group will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.626 Sell Candidate Unchanged
Predicted Opening Price for China Beststudy Education Group of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| HK$3.27 ( 0.91%) | HK$3.30 |
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 | |
|---|---|---|
| R3 | 3.36 | 1.82% |
| R2 | 3.33 | 0.776% |
| R1 | 3.30 | 0.133% |
| Price | 3.30 | |
| S1 | 3.24 | -1.95% |
| S2 | 3.21 | -2.59% |
| S3 | 3.18 | -3.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.64 | 10.30% |
| R2 | 3.52 | 6.67% |
| R1 | 3.38 | 2.42% |
| Price | 3.30 | |
| S1 | 3.19 | -3.33% |
| S2 | 2.98 | -9.70% |
| S3 | 2.69 | -18.48% |
3978 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 06, 2024 | HK$0.0350 | 0.96% |
| 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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