Dredging Corporation of India 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
Dredging Corporation of India Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)
No changes to the price of Dredging Corporation of India Limited stock on the last trading day (Monday, 20th May 2024). During the last trading day the stock fluctuated 0% from a day low at ₹824.45 to a day high of ₹824.45. The price has risen in 6 of the last 10 days and is up by 9% over the past 2 weeks.
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 15.40% during the next 3 months and, with a 90% probability hold a price between ₹818.15 and ₹1,015.22 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
DREDGECORP.NS Signals & Forecast
The Dredging Corporation of India 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 ₹784.82 and ₹778.82. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen 0%. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Dredging Corporation of India Limited stock
Dredging Corporation of India Limited finds support from accumulated volume at ₹824.30 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock 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 2.86%
Our recommended stop-loss: ₹792.96 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (DREDGECORP.NS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Dredging Corporation of India Limited to open at ₹824.45, and during the day (based on 14 day Average True Range), to move between ₹792.43 and ₹856.47, which gives a possible trading interval of +/-₹32.02 (+/-3.88%) up or down from last closing price. If Dredging Corporation of India Limited takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹824.30 (0.02%) than the resistance at ₹826.90 (0.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dredging Corporation of India Limited stock A Buy?
Dredging Corporation of India 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: 0.682 Hold/Accumulate Downgraded
Predicted Opening Price for Dredging Corporation of India Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹824.45 ( 0.00000000%) | ₹824.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DREDGECORP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 824.45 | 0.00000000 % | |
| R2 | 824.45 | 0.00000000 % | ||
| R1 | 824.45 | 0.00000000 % | ||
| Current price: | 824.45 | |||
| Support | S1 | 824.45 | 0.00000000 % | |
| S2 | 824.45 | 0.00000000 % | ||
| S3 | 824.45 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 843.95 | 2.37 % | |
| R2 | 830.65 | 0.752 % | ||
| R1 | 826.90 | 0.297 % | ||
| Current price | 824.45 | |||
| Support | S1 | 824.30 | -0.0182% | |
| S2 | 809.90 | -1.76% | ||
| S3 | 807.70 | -2.03% |
DREDGECORP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2019 | Jul 31, 2019 | Sep 07, 2019 | ₹3.00 | 0.90% |
| 2 | May 28, 2018 | Aug 03, 2018 | Aug 14, 2018 | ₹2.00 | 0.431% |
| 3 | May 30, 2016 | Sep 22, 2016 | Oct 30, 2016 | ₹3.00 | 0.732% |
| 4 | Sep 22, 2015 | Sep 22, 2015 | Sep 22, 2015 | ₹3.00 | 0.90% |
| 5 | May 28, 2014 | Sep 11, 2014 | Oct 29, 2014 | ₹3.00 | 0.674% |
FAQ
Click here for our free guide on how to buy Dredging Corporation of India Limited Stock.
