Brightcom Group Limited Stock Forecast
Weaker technical forecast for Brightcom Group Limited as stock downgraded to Strong Sell Candidate.
(Updated on May 09, 2024)
The Brightcom Group Limited stock price fell by -3.73% on the last day (Thursday, 9th May 2024) from ₹13.40 to ₹12.90. During the last trading day the stock fluctuated 4.67% from a day low at ₹12.85 to a day high of ₹13.45. The price has fallen in 7 of the last 10 days and is down by -12.24% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -178 thousand shares and in total, 4 million shares were bought and sold for approximately ₹50.44 million.
The stock lies in the middle of a very 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 -25.60% during the next 3 months and, with a 90% probability hold a price between ₹8.50 and ₹10.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BCG.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Brightcom Group Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell 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 ₹13.54 and ₹14.79. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -22.52%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Brightcom Group Limited stock
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹0.600 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 4.74%.
Brightcom Group Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BCG.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Brightcom Group Limited to open at ₹13.07, and during the day (based on 14 day Average True Range), to move between ₹12.28 and ₹13.52, which gives a possible trading interval of +/-₹0.624 (+/-4.84%) up or down from last closing price. If Brightcom Group Limited takes out the full calculated possible swing range there will be an estimated 9.67% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹13.80, some ₹0.90 (6.98%) from the current price of ₹12.90, our system finds the risk reward not very attractive.
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: -6.419 Strong Sell Candidate Downgraded
Predicted Opening Price for Brightcom Group Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹13.07 ( 1.29%) | ₹12.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BCG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.67 | 5.94 % | |
| R2 | 13.44 | 4.17 % | ||
| R1 | 13.30 | 3.07 % | ||
| Current price: | 12.90 | |||
| Support | S1 | 12.84 | -0.485 % | |
| S2 | 12.70 | -1.58 % | ||
| S3 | 12.47 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.90 | 15.50 % | |
| R2 | 14.85 | 15.12 % | ||
| R1 | 13.80 | 6.98 % | ||
| Current price | 12.90 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 29, 2023 | Sep 29, 2023 | Sep 29, 2023 | ₹0.100 | 0.529% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹0.300 | 0.786% |
| 3 | Dec 23, 2021 | Dec 23, 2021 | Dec 23, 2021 | ₹0.0300 | 0.0256% |
| 4 | Dec 18, 2020 | Dec 18, 2020 | Dec 18, 2020 | ₹0.0240 | 0.94% |
| 5 | May 29, 2016 | Dec 19, 2016 | Jan 26, 2017 | ₹0.0480 | 1.28% |
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