China Online Education Group American Stock Forecast
Volatile ride for China Online Education Group American stock price on Thursday moving between $6.10 and $7.25
(Updated on Apr 25, 2024)
The China Online Education Group American stock price fell by -8.29% on the last day (Thursday, 25th Apr 2024) from $7.00 to $6.42. During the last trading day the stock fluctuated 18.85% from a day low at $6.10 to a day high of $7.25. The price has been going up and down for this period, and there has been a -3.89% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 2 thousand shares were bought and sold for approximately $14.93 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.70% during the next 3 months and, with a 90% probability hold a price between $5.57 and $7.40 at the end of this 3-month period.
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COE Signals & Forecast
There are few to no technical positive signals at the moment. The China Online Education Group American 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 $6.70 and $6.76. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -18.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). China Online Education Group American gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for China Online Education Group American stock
China Online Education Group American finds support from accumulated volume at $6.30 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 $1.15 between high and low, or 18.85%. For the last week, the stock has had daily average volatility of 7.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (COE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect China Online Education Group American depositary shares each representing 15 Class A to open at $6.59, and during the day (based on 14 day Average True Range), to move between $5.97 and $6.87, which gives a possible trading interval of +/-$0.449 (+/-7.00%) up or down from last closing price. If China Online Education Group American depositary shares each representing 15 Class A takes out the full calculated possible swing range there will be an estimated 14.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.30 (1.87%) than the resistance at $6.62 (3.12%), 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 Online Education Group American depositary shares each representing 15 Class A stock A Buy?
China Online Education Group American holds several negative signals and is within a very wide and falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -2.802 Sell Candidate Downgraded
Predicted Opening Price for China Online Education Group American depositary shares each representing 15 Class A of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $6.59 ( 2.65%) | $6.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.74 | 20.55 % | |
| R2 | 7.30 | 13.71 % | ||
| R1 | 7.03 | 9.49 % | ||
| Current price: | 6.42 | |||
| Support | S1 | 6.15 | -4.19 % | |
| S2 | 5.88 | -8.42 % | ||
| S3 | 5.44 | -15.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.90 | 7.48 % | |
| R2 | 6.71 | 4.52 % | ||
| R1 | 6.62 | 3.12 % | ||
| Current price | 6.42 | |||
| Support | S1 | 6.30 | -1.87% | |
| S2 | 6.17 | -3.89% | ||
| S3 | 6.00 | -6.54% |
FAQ
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