Cranes Software International Limited Stock Forecast
Green day on Friday for Cranes Software International Limited
(Updated on Jun 14, 2024)
The Cranes Software International Limited stock price gained 4.88% on the last trading day (Friday, 14th Jun 2024), rising from ₹5.53 to ₹5.80. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.87% from a day low at ₹5.75 to a day high of ₹5.80. The price has risen in 8 of the last 10 days and is up by 13.95% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 125 thousand shares were bought and sold for approximately ₹724.30 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 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 58.03% during the next 3 months and, with a 90% probability hold a price between ₹8.25 and ₹9.54 at the end of this 3-month period.
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CRANESSOFT.BO Signals & Forecast
The Cranes Software International 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 ₹5.25 and ₹4.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 85.90%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 also not.
Support, Risk & Stop-loss for Cranes Software International Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹5.11 and ₹4.45. 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, Cranes Software International Limited finds support just below today's level at ₹5.11. If this is broken, then the next support from accumulated volume will be at ₹4.45 and ₹4.43.
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 ₹0.0500 between high and low, or 0.87%. For the last week the stock has had daily average volatility of 3.74%.
Since the Cranes Software International Limited has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹5.62 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 104 days ago.)
Trading Expectations (CRANESSOFT.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Cranes Software International Limited to open at ₹5.78, and during the day (based on 14 day Average True Range), to move between ₹5.52 and ₹6.08, which gives a possible trading interval of +/-₹0.277 (+/-4.77%) up or down from last closing price. If Cranes Software International Limited takes out the full calculated possible swing range there will be an estimated 9.55% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹5.11, some ₹0.690 (11.90%) from the current price of ₹5.80, our system finds the risk reward attractive.
Is Cranes Software International Limited stock A Buy?
Cranes Software International Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.700 Strong Buy Candidate Unchanged
Predicted Opening Price for Cranes Software International Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹5.78 ( 0.287%) | ₹5.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRANESSOFT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.83 | 0.575% |
| R2 | 5.81 | 0.245% |
| R1 | 5.80 | 0.0420% |
| Price | 5.80 | |
| S1 | 5.76 | -0.617% |
| S2 | 5.75 | -0.82% |
| S3 | 5.73 | -1.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 5.80 | |
| S1 | 5.11 | -11.90% |
| S2 | 4.45 | -23.28% |
| S3 | 4.43 | -23.62% |
CRANESSOFT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2009 | Sep 22, 2009 | Sep 22, 2009 | ₹0.200 | 0.469% |
| 2 | Sep 22, 2008 | Sep 22, 2008 | Sep 22, 2008 | ₹1.20 | 1.17% |
| 3 | Sep 04, 2007 | Sep 04, 2007 | Sep 04, 2007 | ₹1.00 | 0.86% |
| 4 | Sep 04, 2006 | Sep 04, 2006 | Sep 04, 2006 | ₹1.20 | 1.15% |
| 5 | Sep 20, 2005 | Sep 20, 2005 | Sep 20, 2005 | ₹2.50 | 2.54% |
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