GSX Techedu Inc. Stock Forecast
A very strong day for GSX Techedu Inc. stock price on Thursday
(Updated on Apr 25, 2024)
The GSX Techedu Inc. stock price gained 6.67% on the last trading day (Thursday, 25th Apr 2024), rising from $6.45 to $6.88. During the last trading day the stock fluctuated 8.83% from a day low at $6.34 to a day high of $6.90. The price has been going up and down for this period, and there has been a 5.52% gain for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately $19.77 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 40.42% during the next 3 months and, with a 90% probability hold a price between $8.27 and $13.79 at the end of this 3-month period.
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GOTU Signals & Forecast
The GSX Techedu Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $6.48 and $6.84. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -14.96%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for GSX Techedu Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.45 and $6.38. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, GSX Techedu Inc. finds support just below today's level at $6.45. If this is broken, then the next support from accumulated volume will be at $6.38 and $5.94.
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 $0.560 between high and low, or 8.83%. For the last week, the stock has had daily average volatility of 7.54%.
Our recommended stop-loss: $6.51 (-5.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (GOTU) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect GSX Techedu Inc. to open at $6.71, and during the day (based on 14 day Average True Range), to move between $6.44 and $7.32, which gives a possible trading interval of +/-$0.437 (+/-6.36%) up or down from last closing price. If GSX Techedu Inc. takes out the full calculated possible swing range there will be an estimated 12.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.45 (6.25%) than the resistance at $7.44 (8.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is GSX Techedu Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for GSX Techedu Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.343 Buy Candidate Upgraded
Predicted Opening Price for GSX Techedu Inc. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $6.71 ( 2.52%) | $6.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOTU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.27 | 5.62 % | |
| R2 | 7.05 | 2.51 % | ||
| R1 | 6.92 | 0.590 % | ||
| Current price: | 6.88 | |||
| Support | S1 | 6.49 | -5.63 % | |
| S2 | 6.36 | -7.55 % | ||
| S3 | 6.15 | -10.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.76 | 12.79 % | |
| R2 | 7.64 | 11.05 % | ||
| R1 | 7.44 | 8.14 % | ||
| Current price | 6.88 | |||
| Support | S1 | 6.45 | -6.25% | |
| S2 | 6.38 | -7.27% | ||
| S3 | 5.94 | -13.66% |
FAQ
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