Brooks Laboratories Limited Stock Forecast
Brooks Laboratories Limited stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Brooks Laboratories Limited stock price gained 1.66% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹86.95 to ₹88.39. During the last trading day the stock fluctuated 4.03% from a day low at ₹86.30 to a day high of ₹89.78. The price has risen in 6 of the last 10 days and is up by 7.92% over the past 2 weeks. Volume fell on the last day by -846 shares and in total, 2 thousand shares were bought and sold for approximately ₹138.86 thousand. 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 lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹88.69 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -23.46% during the next 3 months and, with a 90% probability hold a price between ₹51.97 and ₹67.89 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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BROOKS.BO Signals & Forecast
The Brooks Laboratories Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹87.74 and ₹88.35. 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 Thursday, June 20, 2024, and so far it has fallen -1.90%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Brooks Laboratories Limited stock
Brooks Laboratories Limited finds support from accumulated volume at ₹86.95 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹3.48 between high and low, or 4.03%. For the last week the stock has had daily average volatility of 4.11%.
Our recommended stop-loss: ₹85.38 (-3.41%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (BROOKS.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Brooks Laboratories Limited to open at ₹88.16, and during the day (based on 14 day Average True Range), to move between ₹84.47 and ₹92.31, which gives a possible trading interval of +/-₹3.92 (+/-4.43%) up or down from last closing price. If Brooks Laboratories Limited takes out the full calculated possible swing range there will be an estimated 8.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹86.95 (1.63%) than the resistance at ₹92.80 (4.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Brooks Laboratories Limited stock A Buy?
Brooks Laboratories 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.567 Hold/Accumulate Upgraded
Predicted Opening Price for Brooks Laboratories Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹88.16 ( 0.264%) | ₹88.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BROOKS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.64 | 3.67% |
| R2 | 90.31 | 2.17% |
| R1 | 89.49 | 1.24% |
| Price | 88.39 | |
| S1 | 86.83 | -1.77% |
| S2 | 86.01 | -2.70% |
| S3 | 84.68 | -4.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 102.65 | 16.13% |
| R2 | 94.30 | 6.69% |
| R1 | 92.80 | 4.99% |
| Price | 88.39 | |
| S1 | 86.95 | -1.63% |
| S2 | 81.15 | -8.19% |
| S3 | 73.99 | -16.29% |
FAQ
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