China Online Education Group American Stock Forecast
Volatile ride for China Online Education Group American stock price on Friday moving between $6.67 and $7.40
(Updated on May 03, 2024)
The China Online Education Group American stock price gained 3.99% on the last trading day (Friday, 3rd May 2024), rising from $7.01 to $7.29. During the last trading day the stock fluctuated 10.94% from a day low at $6.67 to a day high of $7.40. The price has risen in 7 of the last 10 days and is up by 12.67% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 568 more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately $27.44 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect China Online Education Group American stock with a 90% probability to be traded between $6.39 and $7.84 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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COE Signals & Forecast
Mostly positive signals in the chart today. The China Online Education Group American stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.88 and $6.84. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 13.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). China Online Education Group American 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.
Support, Risk & Stop-loss for China Online Education Group American stock
China Online Education Group American finds support from accumulated volume at $7.00 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 $0.730 between high and low, or 10.94%. For the last week, the stock has had daily average volatility of 6.00%.
Our recommended stop-loss: $7.01 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (COE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect China Online Education Group American depositary shares each representing 15 Class A to open at $7.12, and during the day (based on 14 day Average True Range), to move between $6.86 and $7.72, which gives a possible trading interval of +/-$0.426 (+/-5.84%) 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 11.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.30 (0.14%) than the support at $7.00 (3.98%), 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.
Earnings coming up
China Online Education Group American depositary shares each representing 15 Class A will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for China Online Education Group American depositary shares each representing 15 Class A, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.49% in the first trading day after earnings release.
Is China Online Education Group American depositary shares each representing 15 Class A stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for China Online Education Group American stock to perform well in the short-term period.
Current score: 2.556 Buy Candidate Unchanged
Predicted Opening Price for China Online Education Group American depositary shares each representing 15 Class A of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $7.12 ( 2.33%) | $7.29 |
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 | 7.85 | 7.68 % | |
| R2 | 7.57 | 3.86 % | ||
| R1 | 7.40 | 1.49 % | ||
| Current price: | 7.29 | |||
| Support | S1 | 6.84 | -6.16 % | |
| S2 | 6.67 | -8.52 % | ||
| S3 | 6.39 | -12.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.89 | 8.23 % | |
| R2 | 7.63 | 4.66 % | ||
| R1 | 7.30 | 0.137 % | ||
| Current price | 7.29 | |||
| Support | S1 | 7.00 | -3.98% | |
| S2 | 6.90 | -5.35% | ||
| S3 | 6.71 | -7.96% |
FAQ
Click here for our free guide on how to buy China Online Education Group American depositary shares each representing 15 Class A Stock.
