New Oriental Stock Forecast
Green day on Thursday for New Oriental
(Updated on Apr 18, 2024)
The New Oriental stock price gained 2.77% on the last trading day (Thursday, 18th Apr 2024), rising from $84.55 to $86.89. During the last trading day the stock fluctuated 3.15% from a day low at $85.06 to a day high of $87.74. The price has been going up and down for this period, and there has been a 1.84% gain for the last 2 weeks. Volume fell on the last day by -71 thousand shares and in total, 918 thousand shares were bought and sold for approximately $79.74 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 10.98% during the next 3 months and, with a 90% probability hold a price between $87.53 and $112.64 at the end of this 3-month period.
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EDU Signals & Forecast
There are mixed signals in the stock today. The New Oriental 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 $89.70. On a fall, the stock will find some support from the short-term average at $86.40. 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 Monday, March 04, 2024, and so far it has fallen -9.78%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for New Oriental stock
New Oriental finds support from accumulated volume at $86.72 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 $2.68 between high and low, or 3.15%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDU) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect New Oriental Education & Technology Group Inc to open at $86.56, and during the day (based on 14 day Average True Range), to move between $84.14 and $89.64, which gives a possible trading interval of +/-$2.75 (+/-3.17%) up or down from last closing price. If New Oriental Education & Technology Group Inc takes out the full calculated possible swing range there will be an estimated 6.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $86.72 (0.20%) than the resistance at $90.17 (3.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
New Oriental will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for New Oriental, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 10.11% in the first trading day after earnings release.
Is New Oriental Education & Technology Group Inc stock A Buy?
New Oriental 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: -1.521 Sell Candidate Unchanged
Predicted Opening Price for New Oriental Education & Technology Group Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $86.56 ( 0.376%) | $86.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.24 | 2.71 % | |
| R2 | 88.22 | 1.53 % | ||
| R1 | 87.59 | 0.80 % | ||
| Current price: | 86.89 | |||
| Support | S1 | 85.54 | -1.55 % | |
| S2 | 84.91 | -2.28 % | ||
| S3 | 83.88 | -3.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.13 | 9.48 % | |
| R2 | 90.47 | 4.12 % | ||
| R1 | 90.17 | 3.77 % | ||
| Current price | 86.89 | |||
| Support | S1 | 86.72 | -0.196% | |
| S2 | 81.05 | -6.72% | ||
| S3 | 76.16 | -12.35% |
EDU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2017 | Sep 01, 2017 | Oct 06, 2017 | $0.450 | 0.491% |
| 2 | Jul 21, 2015 | Sep 02, 2015 | Oct 07, 2015 | $0.400 | 1.85% |
| 3 | Jul 23, 2013 | Sep 04, 2013 | Oct 07, 2013 | $0.350 | 1.39% |
| 4 | Apr 17, 2012 | Aug 29, 2012 | Sep 29, 2012 | $0.300 | 1.80% |
FAQ
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