New Oriental Stock Forecast
New Oriental stock upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The New Oriental stock price gained 3.18% on the last trading day (Thursday, 2nd May 2024), rising from $78.40 to $80.89. During the last trading day the stock fluctuated 4.85% from a day low at $78.72 to a day high of $82.54. The price has risen in 6 of the last 10 days but is still down by -6.91% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $183.63 million.
The stock lies in the middle of a 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 -7.42% during the next 3 months and, with a 90% probability hold a price between $70.69 and $84.50 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EDU Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 4.94%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $86.60. On a fall, the stock will find some support from the short-term average at $79.81. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for New Oriental stock
New Oriental finds support from accumulated volume at $79.64 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 $3.82 between high and low, or 4.85%. For the last week, the stock has had daily average volatility of 4.10%.
Our recommended stop-loss: $77.04 (-4.76%) (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 (EDU) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect New Oriental Education & Technology Group Inc to open at $80.72, and during the day (based on 14 day Average True Range), to move between $76.99 and $84.79, which gives a possible trading interval of +/-$3.90 (+/-4.82%) 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 9.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $81.37 (0.59%) than the support at $79.64 (1.55%), 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 New Oriental Education & Technology Group Inc stock A Buy?
New Oriental holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.738 Hold/Accumulate Upgraded
Predicted Opening Price for New Oriental Education & Technology Group Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $80.72 ( 0.214%) | $80.89 |
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 | 84.54 | 4.51 % | |
| R2 | 83.08 | 2.70 % | ||
| R1 | 82.18 | 1.59 % | ||
| Current price: | 80.89 | |||
| Support | S1 | 79.26 | -2.02 % | |
| S2 | 78.36 | -3.13 % | ||
| S3 | 76.90 | -4.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.72 | 7.21 % | |
| R2 | 83.26 | 2.93 % | ||
| R1 | 81.37 | 0.593 % | ||
| Current price | 80.89 | |||
| Support | S1 | 79.64 | -1.55% | |
| S2 | 77.10 | -4.69% | ||
| S3 | 77.08 | -4.71% |
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 | Oct 05, 2015 | Oct 05, 2015 | Oct 07, 2015 | $0.400 | 1.85% |
| 3 | Jul 21, 2015 | Sep 02, 2015 | Oct 07, 2015 | $0.400 | 1.85% |
| 4 | Jul 23, 2013 | Sep 04, 2013 | Oct 07, 2013 | $0.350 | 1.39% |
| 5 | Apr 17, 2012 | Aug 29, 2012 | Sep 29, 2012 | $0.300 | 1.80% |
FAQ
Click here for our free guide on how to buy New Oriental Stock.
