Bharat Immunologicals & Biologicals Corp Stock Forecast
Bharat Immunologicals & Biologicals Corp stock price down 1.30% on Friday
(Updated on May 03, 2024)
The Bharat Immunologicals & Biologicals Corp stock price fell by -1.30% on the last day (Friday, 3rd May 2024) from ₹30.76 to ₹30.36. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 4.80% from a day low at ₹30.00 to a day high of ₹31.44. The price has fallen in 8 of the last 10 days but is still up by 0.2% over the past 2 weeks. 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 -8 thousand shares and in total, 63 thousand shares were bought and sold for approximately ₹1.91 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 -14.11% during the next 3 months and, with a 90% probability hold a price between ₹21.23 and ₹29.98 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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BIBCL.BO Signals & Forecast
The Bharat Immunologicals & Biologicals Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹31.79. On a fall, the stock will find some support from the long-term average at approximately ₹30.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -8.86%. 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 Bharat Immunologicals & Biologicals Corp stock
Bharat Immunologicals & Biologicals Corp finds support from accumulated volume at ₹30.29 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹1.44 between high and low, or 4.80%. For the last week, the stock has had daily average volatility of 6.35%.
Our recommended stop-loss: ₹28.49 (-6.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (BIBCL.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Bharat Immunologicals & Biologicals Corporation Limited to open at ₹30.60, and during the day (based on 14 day Average True Range), to move between ₹28.44 and ₹32.28, which gives a possible trading interval of +/-₹1.92 (+/-6.34%) up or down from last closing price. If Bharat Immunologicals & Biologicals Corporation Limited takes out the full calculated possible swing range there will be an estimated 12.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹30.29 (0.23%) than the resistance at ₹33.31 (9.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bharat Immunologicals & Biologicals Corporation Limited stock A Buy?
Bharat Immunologicals & Biologicals Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.184 Hold/Accumulate Unchanged
Predicted Opening Price for Bharat Immunologicals & Biologicals Corporation Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹30.60 ( 0.791%) | ₹30.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BIBCL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.04 | 5.53 % | |
| R2 | 31.49 | 3.72 % | ||
| R1 | 31.15 | 2.60 % | ||
| Current price: | 30.36 | |||
| Support | S1 | 30.05 | -1.02 % | |
| S2 | 29.71 | -2.14 % | ||
| S3 | 29.16 | -3.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.98 | 21.81 % | |
| R2 | 36.77 | 21.11 % | ||
| R1 | 33.31 | 9.72 % | ||
| Current price | 30.36 | |||
| Support | S1 | 30.29 | -0.231% | |
| S2 | 29.93 | -1.42% | ||
| S3 | 28.15 | -7.28% |
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