17 Education & Technology Group Inc. Stock Forecast
17 Education & Technology Group Inc. stock downgraded from Sell Candidate to Strong Sell Candidate after Wednesday trading session.
(Updated on May 01, 2024)
The 17 Education & Technology Group Inc. stock price fell by -1.80% on the last day (Wednesday, 1st May 2024) from $2.67 to $2.62. During the last trading day the stock fluctuated 9.73% from a day low at $2.61 to a day high of $2.86. The price has risen in 5 of the last 10 days and is up by 11.49% over the past 2 weeks. Volume has increased on the last day by 4 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, 7 thousand shares were bought and sold for approximately $18.98 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 14.28% during the next 3 months and, with a 90% probability hold a price between $2.50 and $3.81 at the end of this 3-month period.
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YQ Signals & Forecast
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. The 17 Education & Technology Group Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.74 and $2.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -17.09%. Further fall is indicated until a new bottom pivot has been found. 17 Education & Technology Group Inc. 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 very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for 17 Education & Technology Group Inc. stock
17 Education & Technology Group Inc. finds support from accumulated volume at $2.61 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.254 between high and low, or 9.73%. For the last week, the stock has had daily average volatility of 8.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (YQ) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect 17 Education & Technology Group Inc. to open at $2.70, and during the day (based on 14 day Average True Range), to move between $2.33 and $2.91, which gives a possible trading interval of +/-$0.287 (+/-10.96%) up or down from last closing price. If 17 Education & Technology Group Inc. takes out the full calculated possible swing range there will be an estimated 21.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.61 (0.38%) than the resistance at $2.77 (5.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is 17 Education & Technology Group Inc. stock A Buy?
The 17 Education & Technology Group Inc. stock holds several negative signals and despite the positive trend, we believe 17 Education & Technology Group Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.933 Strong Sell Candidate Downgraded
Predicted Opening Price for 17 Education & Technology Group Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $2.70 ( 2.98%) | $2.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for YQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.95 | 12.67 % | |
| R2 | 2.85 | 8.96 % | ||
| R1 | 2.79 | 6.68 % | ||
| Current price: | 2.62 | |||
| Support | S1 | 2.60 | -0.726 % | |
| S2 | 2.54 | -3.01 % | ||
| S3 | 2.44 | -6.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.12 | 19.08 % | |
| R2 | 2.81 | 7.25 % | ||
| R1 | 2.77 | 5.73 % | ||
| Current price | 2.62 | |||
| Support | S1 | 2.61 | -0.382% | |
| S2 | 2.36 | -9.92% | ||
| S3 | 2.04 | -22.14% |
FAQ
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