Hailiang Education Group Inc Stock Analysis
Technical stock analysis for 18 January 2019
Hailiang Education Group Inc fell by -1.60% in the last day from $43.70 to $43.00 and has now fallen 4 days in a row. The price has fallen in 7 of the last 10 days and is down by -7.37% for this period. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1 973 shares and in total 11 835 shares bought and sold for approximately $508 905.00.
Close price at the end of the last trading day (Friday, 18th Jan 2019) of the HLG stock was $43.00. This is 1.6% less than the trading day before Thursday, 17th Jan 2019.
During day the stock fluctuated 7.40% from a day low at $42.16 to a day high of $45.28.
30 day high of the HLG stock price was $54.42 and low was $42.16.
90 day high was $66.00 and low was $42.16.
52 week high for the Hailiang Education Group Inc - $88.92 and low - $40.02.
Hailiang Education Group Inc 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 -29.50% during the next 3 months and, with 90% probability hold a price between $28.77 and $35.81 at the end of this period.
There are few to none technical positive signals at the moment. Hailiang Education Group Inc holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $44.89 and $51.32. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Monday December 24, 2018, which indicates further falls 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.
Relative Strength Index (RSI)
RSI14 is 10 and the stock is extremely oversold on RSI14, but some stocks may continue to fall despite the high chance of a correction up. The low RSI lowers the general risk and the stock should be considered if other technical requirements like liquidity and risk-reward are meet.
Support & Resistance
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during a day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $3.12 between high and low, or 7.40%. For the last week the stock has had a daily average volatility of 5.17%.
Hailiang Education Group Inc is overbought on RSI14 (10). Some stocks may go long and hard while being overbought on RSI, but overbought increases the general risk as higher volatility could be expected, and at some level the stock will have a reaction back to gain new strength.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Hailiang Education Group Inc holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our recommendation for this stock since last evaluation from a Strong Sell Candidate to a Sell Candidate.