BMW INDUSTRIES LIMITED Stock Forecast
Red day on Wednesday for BMW INDUSTRIES LIMITED
(Updated on Jun 26, 2024)
The BMW INDUSTRIES LIMITED stock price fell by -1.12% on the last day (Wednesday, 26th Jun 2024) from ₹61.64 to ₹60.95. During the last trading day the stock fluctuated 3.36% from a day low at ₹60.80 to a day high of ₹62.84. The price has fallen in 8 of the last 10 days and is down by -4.72% 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 -772 thousand shares and in total, 632 thousand shares were bought and sold for approximately ₹38.50 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 -2.61% during the next 3 months and, with a 90% probability hold a price between ₹50.06 and ₹64.56 at the end of this 3-month period.
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BMW.BO Signals & Forecast
The BMW INDUSTRIES 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 ₹60.90 and ₹60.25. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, June 10, 2024, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. 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 BMW INDUSTRIES LIMITED stock
BMW INDUSTRIES LIMITED finds support from accumulated volume at ₹60.64 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 ₹2.04 between high and low, or 3.36%. For the last week, the stock has had daily average volatility of 4.96%.
Our recommended stop-loss: ₹58.36 (-4.25%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (BMW.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect BMW INDUSTRIES LIMITED to open at ₹61.53, and during the day (based on 14 day Average True Range), to move between ₹57.71 and ₹64.19, which gives a possible trading interval of +/-₹3.24 (+/-5.32%) up or down from last closing price. If BMW INDUSTRIES LIMITED takes out the full calculated possible swing range there will be an estimated 10.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹60.64 (0.51%) than the resistance at ₹63.60 (4.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BMW INDUSTRIES LIMITED stock A Buy?
BMW INDUSTRIES LIMITED 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: -0.604 Hold/Accumulate Unchanged
Predicted Opening Price for BMW INDUSTRIES LIMITED of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹61.53 ( 0.95%) | ₹60.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMW.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 63.57 | 4.30% |
| R2 | 62.79 | 3.02% |
| R1 | 62.31 | 2.23% |
| Price | 60.95 | |
| S1 | 60.75 | -0.327% |
| S2 | 60.27 | -1.12% |
| S3 | 59.49 | -2.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 67.89 | 11.39% |
| R2 | 64.23 | 5.38% |
| R1 | 63.60 | 4.35% |
| Price | 60.95 | |
| S1 | 60.64 | -0.509% |
| S2 | 59.05 | -3.12% |
| S3 | 51.85 | -14.93% |
BMW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 24, 2023 | Nov 24, 2023 | Dec 08, 2023 | ₹0.220 | 0.401% |
| 2 | Feb 24, 2023 | Feb 24, 2023 | Mar 16, 2023 | ₹0.200 | 0.648% |
| 3 | Apr 11, 2022 | Apr 11, 2022 | Apr 30, 2022 | ₹0.0200 | 0.0714% |
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