Kuke Music Holding Limited Stock Forecast
Kuke Music Holding Limited stock price took a fall of -5.72% on Tuesday
(Updated on Apr 23, 2024)
The Kuke Music Holding Limited stock price fell by -5.72% on the last day (Tuesday, 23rd Apr 2024) from $2.97 to $2.80. During the last trading day the stock fluctuated 6.52% from a day low at $2.76 to a day high of $2.94. The price has fallen in 5 of the last 10 days but is still up by 34.62% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -101 thousand shares and in total, 25 thousand shares were bought and sold for approximately $70.73 thousand.
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 77.69% during the next 3 months and, with a 90% probability hold a price between $3.92 and $6.01 at the end of this 3-month period.
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KUKE Signals & Forecast
The Kuke Music Holding Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $3.00. On a fall, the stock will find some support from the long-term average at approximately $2.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 15, 2024, and so far it has fallen -13.58%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Kuke Music Holding Limited stock
Kuke Music Holding Limited finds support from accumulated volume at $2.79 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.180 between high and low, or 6.52%. For the last week the stock has had daily average volatility of 12.56%.
Our recommended stop-loss: $2.64 (-5.80%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (KUKE) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Kuke Music Holding Limited to open at $2.83, and during the day (based on 14 day Average True Range), to move between $2.39 and $3.21, which gives a possible trading interval of +/-$0.412 (+/-14.72%) up or down from last closing price. If Kuke Music Holding Limited takes out the full calculated possible swing range there will be an estimated 29.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.79 (0.36%) than the resistance at $2.81 (0.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kuke Music Holding Limited 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 Kuke Music Holding Limited stock to perform well in the short-term.
Current score: 1.127 Buy Candidate Unchanged
Predicted Opening Price for Kuke Music Holding Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $2.83 ( 1.19%) | $2.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KUKE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.01 | 7.62 % | |
| R2 | 2.94 | 5.16 % | ||
| R1 | 2.90 | 3.65 % | ||
| Current price: | 2.80 | |||
| Support | S1 | 2.76 | -1.27 % | |
| S2 | 2.72 | -2.78 % | ||
| S3 | 2.65 | -5.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.24 | 15.71 % | |
| R2 | 2.97 | 6.07 % | ||
| R1 | 2.81 | 0.357 % | ||
| Current price | 2.80 | |||
| Support | S1 | 2.79 | -0.357% | |
| S2 | 2.63 | -6.07% | ||
| S3 | 2.50 | -10.71% |
FAQ
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