Kuke Music Holding Limited Stock Forecast
Volatile ride for Kuke Music Holding Limited stock price on Friday moving between $2.60 and $4.07
(Updated on May 03, 2024)
The Kuke Music Holding Limited stock price fell by -5.11% on the last day (Friday, 3rd May 2024) from $2.74 to $2.60. During the last trading day the stock fluctuated 56.54% from a day low at $2.60 to a day high of $4.07. The price has been going up and down for this period, and there has been a -7.47% loss for the last 2 weeks. Volume has increased on the last day by 344 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 351 thousand shares were bought and sold for approximately $912.96 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 40.55% during the next 3 months and, with a 90% probability hold a price between $3.10 and $4.87 at the end of this 3-month period.
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KUKE Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -19.75%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Kuke Music Holding Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Kuke Music Holding Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $2.59 and $2.48. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Kuke Music Holding Limited stock
Kuke Music Holding Limited finds support from accumulated volume at $2.50 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 a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $1.47 between high and low, or 56.54%. For the last week, the stock has had daily average volatility of 21.46%.
Our recommended stop-loss: $2.46 (-5.38%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (KUKE) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Kuke Music Holding Limited to open at $3.09, and during the day (based on 14 day Average True Range), to move between $2.14 and $3.06, which gives a possible trading interval of +/-$0.462 (+/-17.75%) 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 35.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $2.63 (1.15%) than the support at $2.50 (3.85%), 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 Kuke Music Holding Limited stock A Buy?
Kuke Music Holding Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.949 Hold/Accumulate Downgraded
Predicted Opening Price for Kuke Music Holding Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$3.09 ( 18.85%) | $2.60 |
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 | 4.56 | 75.38 % | |
R2 | 4.00 | 53.79 % | ||
R1 | 3.65 | 40.44 % | ||
Current price: | 2.60 | |||
Support | S1 | 2.53 | -2.75 % | |
S2 | 2.18 | -16.09 % | ||
S3 | 1.62 | -37.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.24 | 24.62 % | |
R2 | 2.81 | 8.08 % | ||
R1 | 2.63 | 1.15 % | ||
Current price | 2.60 | |||
Support | S1 | 2.50 | -3.85% | |
S2 | 2.43 | -6.54% | ||
S3 | 2.08 | -20.00% |
FAQ
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