New Oriental Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
New Oriental stock downgraded to Sell Candidate
(Updated on May 01, 2024)
The New Oriental stock price gained 1.69% on the last trading day (Wednesday, 1st May 2024), rising from $77.10 to $78.40. During the last trading day the stock fluctuated 3.81% from a day low at $77.13 to a day high of $80.07. The price has risen in 6 of the last 10 days but is still down by -7.27% for this period. Volume fell on the last day by -1 million shares and in total, 1 million shares were bought and sold for approximately $96.15 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 lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $76.59 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.09% during the next 3 months and, with a 90% probability hold a price between $71.93 and $86.67 at the end of this 3-month period.
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EDU Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 1.71%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The New Oriental 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 $81.05 and $87.00. A break-up above any of these levels will issue buy signals. 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 $77.10 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 $2.94 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 3.95%.
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect New Oriental Education & Technology Group Inc to open at $78.53, and during the day (based on 14 day Average True Range), to move between $74.52 and $82.28, which gives a possible trading interval of +/-$3.88 (+/-4.95%) 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 9.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $79.64 (1.58%) than the support at $77.10 (1.66%), 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 negative signals and is within a 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 Hold/Accumulate to a Sell candidate.
Current score: -3.535 Sell Candidate Downgraded
Predicted Opening Price for New Oriental Education & Technology Group Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $78.53 ( 0.170%) | $78.40 |
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 | 81.47 | 3.92 % | |
| R2 | 80.35 | 2.49 % | ||
| R1 | 79.66 | 1.60 % | ||
| Current price: | 78.40 | |||
| Support | S1 | 77.41 | -1.26 % | |
| S2 | 76.72 | -2.15 % | ||
| S3 | 75.59 | -3.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 86.72 | 10.61 % | |
| R2 | 83.26 | 6.20 % | ||
| R1 | 79.64 | 1.58 % | ||
| Current price | 78.40 | |||
| Support | S1 | 77.10 | -1.66% | |
| S2 | 77.08 | -1.68% | ||
| S3 | 0 | . |
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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