Wah Fu Education Group Ltd. Stock Forecast
Wah Fu Education Group Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Wah Fu Education Group Ltd. stock price gained 0.510% on the last trading day (Thursday, 25th Apr 2024), rising from $1.94 to $1.95. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.72% from a day low at $1.88 to a day high of $1.95. The price has fallen in 5 of the last 10 days and is down by -2.02% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 953 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $4.21 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.98% during the next 3 months and, with a 90% probability hold a price between $1.65 and $2.00 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
WAFU Signals & Forecast
The Wah Fu Education Group Ltd. 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 $1.92 and $1.92. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 7.73%. Further rise is indicated until a new top pivot has been found. Wah Fu Education Group Ltd. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Wah Fu Education Group Ltd. stock
Wah Fu Education Group Ltd. finds support from accumulated volume at $1.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0699 (3.72%) between high and low. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: $1.85 (-4.93%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (WAFU) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Wah Fu Education Group Ltd. to open at $1.93, and during the day (based on 14 day Average True Range), to move between $1.86 and $2.04, which gives a possible trading interval of +/-$0.0882 (+/-4.52%) up or down from last closing price. If Wah Fu Education Group Ltd. takes out the full calculated possible swing range there will be an estimated 9.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.98 (1.29%) than the support at $1.91 (2.05%), 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 Wah Fu Education Group Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for 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: 2.498 Buy Candidate Upgraded
Predicted Opening Price for Wah Fu Education Group Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $1.93 ( 1.19%) | $1.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WAFU
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.00 | 2.39 % | |
| R2 | 1.97 | 1.02 % | ||
| R1 | 1.95 | 0.174 % | ||
| Current price: | 1.95 | |||
| Support | S1 | 1.90 | -2.56 % | |
| S2 | 1.88 | -3.41 % | ||
| S3 | 1.86 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.17 | 11.29 % | |
| R2 | 2.10 | 7.44 % | ||
| R1 | 1.98 | 1.29 % | ||
| Current price | 1.95 | |||
| Support | S1 | 1.91 | -2.05% | |
| S2 | 1.90 | -2.56% | ||
| S3 | 1.88 | -3.58% |
FAQ
Click here for our free guide on how to buy Wah Fu Education Group Ltd. Stock.
