Chemcrux Enterprises Limited Stock Forecast
Chemcrux Enterprises Limited stock price down 0.434% on Wednesday
(Updated on Jun 26, 2024)
The Chemcrux Enterprises Limited stock price fell by -0.434% on the last day (Wednesday, 26th Jun 2024) from ₹242.15 to ₹241.10. During the last trading day the stock fluctuated 2.07% from a day low at ₹241.00 to a day high of ₹246.00. The price has been going up and down for this period, and there has been a 3.54% gain for the last 2 weeks. Volume has increased on the last day by 74 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately ₹1.62 million.
The stock lies the upper part of a 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 ₹243.80 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 -17.66% during the next 3 months and, with a 90% probability hold a price between ₹164.66 and ₹200.75 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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CHEMCRUX.BO Signals & Forecast
The Chemcrux Enterprises 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 ₹238.45 and ₹237.47. 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 12.93%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Chemcrux Enterprises Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹228.20 and ₹224.25. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chemcrux Enterprises Limited finds support just below today's level at ₹228.20. If this is broken, then the next support from accumulated volume will be at ₹224.25 and ₹213.50.
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 ₹5.00 between high and low, or 2.07%. For the last week, the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: ₹234.78 (-2.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 53 days ago.)
Trading Expectations (CHEMCRUX.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Chemcrux Enterprises Limited to open at ₹242.70, and during the day (based on 14 day Average True Range), to move between ₹231.74 and ₹250.46, which gives a possible trading interval of +/-₹9.36 (+/-3.88%) up or down from last closing price. If Chemcrux Enterprises Limited takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹242.70 (0.66%) than the support at ₹228.20 (5.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Chemcrux Enterprises Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.141 Buy Candidate Unchanged
Predicted Opening Price for Chemcrux Enterprises Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹242.70 ( 0.664%) | ₹241.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHEMCRUX.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 247.70 | 2.74% |
| R2 | 245.79 | 1.95% |
| R1 | 244.61 | 1.46% |
| Price | 241.10 | |
| S1 | 240.79 | -0.129% |
| S2 | 239.61 | -0.618% |
| S3 | 237.70 | -1.41% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 265.65 | 10.18% |
| R2 | 250.15 | 3.75% |
| R1 | 242.70 | 0.664% |
| Price | 241.10 | |
| S1 | 228.20 | -5.35% |
| S2 | 224.25 | -6.99% |
| S3 | 213.50 | -11.45% |
CHEMCRUX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 05, 2023 | Sep 05, 2023 | Oct 12, 2023 | ₹2.00 | 0.634% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Oct 23, 2022 | ₹2.00 | 0.497% |
| 3 | Aug 13, 2021 | Aug 13, 2021 | Sep 23, 2021 | ₹0.222 | 0.166% |
| 4 | Aug 07, 2020 | Aug 07, 2020 | Sep 16, 2020 | ₹0.333 | 0.144% |
| 5 | Mar 05, 2020 | Mar 05, 2020 | Mar 28, 2020 | ₹1.00 | 1.47% |
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