Cubex Tubings Limited Stock Forecast
Cubex Tubings Limited stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Cubex Tubings Limited stock price fell by -1.97% on the last day (Thursday, 9th May 2024) from ₹106.50 to ₹104.40. It has now fallen 10 days in a row. During the last trading day the stock fluctuated 0% from a day low at ₹104.40 to a day high of ₹104.40. The price has fallen in 10 of the last 10 days and is down by -18.06% for this period. Volume has increased on the last day by 615 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, 1 thousand shares were bought and sold for approximately ₹128.93 thousand.
Given the current short-term trend, the stock is expected to rise 37.70% during the next 3 months and, with a 90% probability hold a price between ₹143.76 and ₹184.46 at the end of this 3-month period.
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CUBEXTUB.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Cubex Tubings Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹110.82 and ₹105.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -18.06%. 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). Cubex Tubings Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Cubex Tubings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹84.65 and ₹83.95. 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, Cubex Tubings Limited finds support just below today's level at ₹84.65. If this is broken, then the next support from accumulated volume will be at ₹83.95 and ₹82.40.
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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.715%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CUBEXTUB.BO) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Cubex Tubings Limited to open at ₹104.40, and during the day (based on 14 day Average True Range), to move between ₹101.04 and ₹107.76, which gives a possible trading interval of +/-₹3.36 (+/-3.22%) up or down from last closing price. If Cubex Tubings Limited takes out the full calculated possible swing range there will be an estimated 6.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹110.18 (5.54%) than the support at ₹84.65 (18.92%), 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.
Earnings coming up
Cubex Tubings Limited will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Cubex Tubings Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.488% in the first trading day after earnings release.
Is Cubex Tubings Limited stock A Buy?
The Cubex Tubings Limited stock holds several negative signals and despite the positive trend, we believe Cubex Tubings Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -3.572 Sell Candidate Downgraded
Predicted Opening Price for Cubex Tubings Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹104.40 ( 0.00000000%) | ₹104.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUBEXTUB.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 104.40 | 0.00000000 % | |
| R2 | 104.40 | 0.00000000 % | ||
| R1 | 104.40 | 0.00000000 % | ||
| Current price: | 104.40 | |||
| Support | S1 | 104.40 | 0.00000000 % | |
| S2 | 104.40 | 0.00000000 % | ||
| S3 | 104.40 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 127.41 | 22.04 % | |
| R2 | 115.20 | 10.34 % | ||
| R1 | 110.18 | 5.54 % | ||
| Current price | 104.40 | |||
| Support | S1 | 84.65 | -18.92% | |
| S2 | 83.95 | -19.59% | ||
| S3 | 82.40 | -21.07% |
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