Continental Controls Limited Stock Forecast
Green day on Friday for Continental Controls Limited
(Updated on May 17, 2024)
The Continental Controls Limited stock price gained 1.94% on the last trading day (Friday, 17th May 2024), rising from ₹12.90 to ₹13.15. During the last trading day the stock fluctuated 0% from a day low at ₹13.15 to a day high of ₹13.15. The price has fallen in 8 of the last 10 days and is down by -11.27% for this period. Volume fell on the last day by -116 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹28.01 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 in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹13.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 131.21% during the next 3 months and, with a 90% probability hold a price between ₹30.05 and ₹40.49 at the end of this 3-month period.
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CONTICON.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -14.72%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The Continental Controls 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 ₹13.12 and ₹12.92. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Continental Controls Limited stock
Continental Controls Limited finds support from accumulated volume at ₹12.90 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 ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.96%.
Our recommended stop-loss: ₹12.37 (-5.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (CONTICON.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Continental Controls Limited to open at ₹13.15, and during the day (based on 14 day Average True Range), to move between ₹12.86 and ₹13.44, which gives a possible trading interval of +/-₹0.291 (+/-2.21%) up or down from last closing price. If Continental Controls Limited takes out the full calculated possible swing range there will be an estimated 4.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹12.90 (1.90%) than the resistance at ₹13.46 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Continental Controls Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Continental Controls Limited stock to perform well in the short-term.
Current score: 3.271 Buy Candidate Unchanged
Predicted Opening Price for Continental Controls Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹13.15 ( 0%) | ₹13.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CONTICON.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.15 | . | |
| R2 | 13.15 | . | ||
| R1 | 13.15 | . | ||
| Current price: | 13.15 | |||
| Support | S1 | 13.15 | . | |
| S2 | 13.15 | . | ||
| S3 | 13.15 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.12 | 14.98 % | |
| R2 | 14.82 | 12.70 % | ||
| R1 | 13.46 | 2.36 % | ||
| Current price | 13.15 | |||
| Support | S1 | 12.90 | -1.90% | |
| S2 | 10.95 | -16.73% | ||
| S3 | 10.53 | -19.92% |
FAQ
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