BRIGHTCOM GROUP LIMITED Stock Forecast

Big movements in BRIGHTCOM GROUP LIMITED stock price on Friday moving 10.42% between high and low
(Updated on May 31, 2024)

BCG.BO Signals & Forecast

There are few to no technical positive signals at the moment. The BRIGHTCOM GROUP LIMITED stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹13.00. On a fall, the stock will find some support from the short-term average at ₹10.36. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for BRIGHTCOM GROUP LIMITED stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹9.96 and ₹9.49. 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, BRIGHTCOM GROUP LIMITED finds support just below today's level at ₹9.96. If this is broken, then the next support from accumulated volume will be at ₹9.49 and ₹9.04.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹1.14 between high and low, or 10.42%. For the last week, the stock has had daily average volatility of 4.33%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BCG.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect BRIGHTCOM GROUP LIMITED to open at ₹11.36, and during the day (based on 14 day Average True Range), to move between ₹10.35 and ₹11.79, which gives a possible trading interval of +/-₹0.721 (+/-6.51%) up or down from last closing price. If BRIGHTCOM GROUP LIMITED takes out the full calculated possible swing range there will be an estimated 13.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹11.08 (0.09%) than the support at ₹9.96 (10.03%), 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 BRIGHTCOM GROUP LIMITED stock A Buy?

BRIGHTCOM GROUP LIMITED holds several negative signals and is within a very 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. 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: -6.037 Strong Sell Candidate Downgraded

Predicted Opening Price for BRIGHTCOM GROUP LIMITED of Monday, June 3, 2024

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