Bright Scholar Education Holdings Ltd Stock Forecast

Volatile ride for Bright Scholar Education Holdings Ltd stock price on Friday moving between $1.90 and $2.20
(Updated on Apr 19, 2024)

BEDU Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Bright Scholar Education Holdings Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bright Scholar Education Holdings 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 $2.04. On a fall, the stock will find some support from the short-term average at $1.88. 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 Friday, March 01, 2024, and so far it has fallen -24.21%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Bright Scholar Education Holdings Ltd stock

Bright Scholar Education Holdings Ltd finds support from accumulated volume at $1.90 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 $0.300 between high and low, or 15.79%. For the last week, the stock has had daily average volatility of 5.43%.

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

Trading Expectations (BEDU) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Bright Scholar Education Holdings Limited American Depositary Shares each representing one Class A to open at $2.00, and during the day (based on 14 day Average True Range), to move between $1.78 and $2.04, which gives a possible trading interval of +/-$0.126 (+/-6.58%) up or down from last closing price. If Bright Scholar Education Holdings Limited American Depositary Shares each representing one Class A takes out the full calculated possible swing range there will be an estimated 13.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.92 (0.52%) than the support at $1.90 (0.52%), 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 Bright Scholar Education Holdings Limited American Depositary Shares each representing one Class A stock A Buy?

Bright Scholar Education Holdings 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.

Current score: -1.577 Sell Candidate Unchanged

Predicted Opening Price for Bright Scholar Education Holdings Limited American Depositary Shares each representing one Class A of Monday, April 22, 2024

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