Coffee Day Enterprises Limited Stock Forecast
Red day on Thursday for Coffee Day Enterprises Limited
(Updated on Jun 27, 2024)
The Coffee Day Enterprises Limited stock price fell by -0.94% on the last day (Thursday, 27th Jun 2024) from ₹56.11 to ₹55.58. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.55% from a day low at ₹55.00 to a day high of ₹56.40. The price has fallen in 6 of the last 10 days and is down by -3.39% for this period. Volume has increased on the last day by 9 thousand 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, 2 million shares were bought and sold for approximately ₹93.65 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 -9.23% during the next 3 months and, with a 90% probability hold a price between ₹44.38 and ₹58.75 at the end of this 3-month period.
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COFFEEDAY.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 9.73%. 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. The Coffee Day Enterprises Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹56.25 and ₹56.98. A break-up above any of these levels will issue buy signals. 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 Coffee Day Enterprises Limited stock
Coffee Day Enterprises Limited finds support from accumulated volume at ₹54.70 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 ₹1.40 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 3.58%.
Our recommended stop-loss: ₹53.98 (-2.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (COFFEEDAY.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Coffee Day Enterprises Limited to open at ₹55.66, and during the day (based on 14 day Average True Range), to move between ₹53.14 and ₹58.02, which gives a possible trading interval of +/-₹2.44 (+/-4.39%) up or down from last closing price. If Coffee Day Enterprises Limited takes out the full calculated possible swing range there will be an estimated 8.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹54.70 (1.58%) than the resistance at ₹61.10 (9.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Coffee Day Enterprises Limited stock A Buy?
Coffee Day Enterprises Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.040 Hold/Accumulate Unchanged
Predicted Opening Price for Coffee Day Enterprises Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹55.66 ( 0.144%) | ₹55.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COFFEEDAY.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.06 | 2.66% |
| R2 | 56.53 | 1.70% |
| R1 | 56.19 | 1.11% |
| Price | 55.58 | |
| S1 | 55.13 | -0.82% |
| S2 | 54.79 | -1.41% |
| S3 | 54.26 | -2.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 64.70 | 16.41% |
| R2 | 62.75 | 12.90% |
| R1 | 61.10 | 9.93% |
| Price | 55.58 | |
| S1 | 54.70 | -1.58% |
| S2 | 53.75 | -3.29% |
| S3 | 50.65 | -8.87% |
FAQ
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