Blue Jet Healthcare Limited Stock Forecast
Green day on Tuesday for Blue Jet Healthcare Limited stock after gaining 0.306%
(Updated on Jun 18, 2024)
The Blue Jet Healthcare Limited stock price gained 0.306% on the last trading day (Tuesday, 18th Jun 2024), rising from ₹391.85 to ₹393.05. During the last trading day the stock fluctuated 2.47% from a day low at ₹386.50 to a day high of ₹396.05. The price has risen in 7 of the last 10 days and is up by 2.04% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹2.53 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Blue Jet Healthcare Limited stock with a 90% probability to be traded between ₹353.73 and ₹404.60 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BLUEJET.BO Signals & Forecast
Mostly positive signals in the chart today. The Blue Jet Healthcare Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹386.96 and ₹377.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 9.42%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Blue Jet Healthcare Limited stock
Blue Jet Healthcare Limited finds support from accumulated volume at ₹391.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹9.55 (2.47%) between high and low. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: ₹380.16 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (BLUEJET.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Blue Jet Healthcare Limited to open at ₹391.87, and during the day (based on 14 day Average True Range), to move between ₹378.01 and ₹408.09, which gives a possible trading interval of +/-₹15.04 (+/-3.83%) up or down from last closing price. If Blue Jet Healthcare Limited takes out the full calculated possible swing range there will be an estimated 7.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹391.50 (0.39%) than the resistance at ₹399.60 (1.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Blue Jet Healthcare Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Blue Jet Healthcare Limited stock to perform well in the short-term period.
Current score: 1.374 Buy Candidate Unchanged
Predicted Opening Price for Blue Jet Healthcare Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹391.87 ( 0.301%) | ₹393.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLUEJET.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 401.42 | 2.13% |
| R2 | 397.77 | 1.20% |
| R1 | 395.51 | 0.627% |
| Price | 393.05 | |
| S1 | 388.22 | -1.23% |
| S2 | 385.96 | -1.80% |
| S3 | 382.32 | -2.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 414.30 | 5.41% |
| R2 | 400.70 | 1.95% |
| R1 | 399.60 | 1.67% |
| Price | 393.05 | |
| S1 | 391.50 | -0.394% |
| S2 | 382.45 | -2.70% |
| S3 | 374.60 | -4.69% |
FAQ
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