Cochin Shipyard Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Strong day for Cochin Shipyard Limited stock price on Wednesday rising 7.77% to ₹2,436.35
(Updated on Jul 03, 2024)
The Cochin Shipyard Limited stock price gained 7.77% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹2,260.65 to ₹2,436.35. During the last trading day the stock fluctuated 9.64% from a day low at ₹2,246.40 to a day high of ₹2,463.00. The price has risen in 6 of the last 10 days and is up by 7.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately ₹25.75 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 120.38% during the next 3 months and, with a 90% probability hold a price between ₹4,656.58 and ₹5,640.01 at the end of this 3-month period.
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COCHINSHIP.NS Signals & Forecast
The Cochin Shipyard 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 ₹2,259.06 and ₹1,953.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 44.63%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Cochin Shipyard Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,971.00 and ₹1,912.55. 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, Cochin Shipyard Limited finds support just below today's level at ₹1,971.00. If this is broken, then the next support from accumulated volume will be at ₹1,912.55 and ₹1,890.20.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹216.60 between high and low, or 9.64%. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: ₹2,352.54 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (COCHINSHIP.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Cochin Shipyard Limited to open at ₹2,381.92, and during the day (based on 14 day Average True Range), to move between ₹2,312.44 and ₹2,560.26, which gives a possible trading interval of +/-₹123.91 (+/-5.09%) up or down from last closing price. If Cochin Shipyard Limited takes out the full calculated possible swing range there will be an estimated 10.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,971.00, some ₹465.35 (19.10%) from the current price of ₹2,436.35, our system finds the risk reward attractive.
Is Cochin Shipyard Limited stock A Buy?
Cochin Shipyard 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Cochin Shipyard Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹2,381.92 ( 2.23%) | ₹2,436.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COCHINSHIP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,598.52 | 6.66% |
| R2 | 2,515.78 | 3.26% |
| R1 | 2,464.66 | 1.16% |
| Price | 2,436.35 | |
| S1 | 2,299.18 | -5.63% |
| S2 | 2,248.06 | -7.73% |
| S3 | 2,165.32 | -11.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2,436.35 | |
| S1 | 1,971.00 | -19.10% |
| S2 | 1,912.55 | -21.50% |
| S3 | 1,890.20 | -22.42% |
COCHINSHIP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 12, 2024 | Feb 28, 2024 | ₹3.50 | 0.410% |
| 2 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | ₹8.00 | 1.47% |
| 3 | Sep 21, 2023 | Sep 21, 2023 | Oct 27, 2023 | ₹1.50 | 0.304% |
| 4 | Feb 22, 2023 | Feb 22, 2023 | Feb 22, 2023 | ₹7.00 | 2.98% |
| 5 | Nov 21, 2022 | Nov 21, 2022 | Nov 21, 2022 | ₹7.00 | 2.29% |
FAQ
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