Tuniu Corporation Stock Forecast
Big movements in Tuniu Corporation stock price on Wednesday moving 12.22% between high and low
(Updated on May 01, 2024)
The Tuniu Corporation stock price fell by -6.93% on the last day (Wednesday, 1st May 2024) from $1.01 to $0.94. During the last trading day the stock fluctuated 12.22% from a day low at $0.90 to a day high of $1.01. The price has risen in 6 of the last 10 days and is up by 16.34% 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 -132 thousand shares and in total, 348 thousand shares were bought and sold for approximately $327.43 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 29.95% during the next 3 months and, with a 90% probability hold a price between $0.99 and $1.32 at the end of this 3-month period.
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TOUR Signals & Forecast
The Tuniu Corporation 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 $0.88 and $0.786. 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). 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 Tuesday, April 30, 2024, and so far it has fallen -6.93%. 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.
Support, Risk & Stop-loss for Tuniu Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.83 and $0.795. 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, Tuniu Corporation finds support just below today's level at $0.83. If this is broken, then the next support from accumulated volume will be at $0.795 and $0.711.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 12.22%. For the last week the stock has had daily average volatility of 7.97%.
Our recommended stop-loss: $0.89 (-5.76%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (TOUR) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Tuniu Corporation to open at $0.95, and during the day (based on 14 day Average True Range), to move between $0.88 and $1.00, which gives a possible trading interval of +/-$0.0612 (+/-6.51%) up or down from last closing price. If Tuniu Corporation takes out the full calculated possible swing range there will be an estimated 13.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.01 (7.45%) than the support at $0.83 (11.91%), 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 Tuniu Corporation 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 Tuniu Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.039 Buy Candidate Upgraded
Predicted Opening Price for Tuniu Corporation of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$0.95 ( 1.06%) | $0.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TOUR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1.06 | 12.77 % | |
R2 | 1.02 | 8.30 % | ||
R1 | 0.99 | 5.53 % | ||
Current price: | 0.94 | |||
Support | S1 | 0.91 | -3.41 % | |
S2 | 0.88 | -6.17 % | ||
S3 | 0.84 | -10.64 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 1.01 | 7.45 % | ||
Current price | 0.94 | |||
Support | S1 | 0.83 | -11.91% | |
S2 | 0.795 | -15.40% | ||
S3 | 0.711 | -24.34% |
FAQ
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