Xunlei Limited Stock Forecast

Stronger technical forecast for Xunlei Limited stock price after Friday trading.
(Updated on Apr 26, 2024)

XNET Signals & Forecast

Mostly positive signals in the chart today. The Xunlei 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 $1.53 and $1.51. 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 6.80%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Xunlei Limited 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. The stock had a Golden Star Signal on Thursday, March 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Xunlei Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.49 and $1.48. 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, Xunlei Limited finds support just below today's level at $1.49. If this is broken, then the next support from accumulated volume will be at $1.48 and $1.47.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0400 between high and low, or 2.56%. For the last week the stock has had daily average volatility of 3.94%.

Our recommended stop-loss: $1.50 (-4.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 27 days ago.)

Trading Expectations (XNET) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Xunlei Limited to open at $1.58, and during the day (based on 14 day Average True Range), to move between $1.53 and $1.61, which gives a possible trading interval of +/-$0.0444 (+/-2.83%) up or down from last closing price. If Xunlei Limited takes out the full calculated possible swing range there will be an estimated 5.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.63 (3.82%) than the support at $1.49 (5.10%), 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 Xunlei Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Xunlei Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 3.119 Buy Candidate Upgraded

Predicted Opening Price for Xunlei Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.