ECS Biztech Limited Stock Forecast
High volatility in ECS Biztech Limited stock price on Friday which ended trading at ₹12.51
(Updated on Jun 28, 2024)
The ECS Biztech Limited stock price gained 0.0800% on the last trading day (Friday, 28th Jun 2024), rising from ₹12.50 to ₹12.51. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.44% from a day low at ₹11.88 to a day high of ₹13.12. The price has risen in 5 of the last 10 days and is up by 6.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 65 thousand more shares were traded than the day before. In total, 96 thousand shares were bought and sold for approximately ₹1.20 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹12.23, a level that may pose a second chance to hit a runner. According to fan-theory ₹14.82 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ECS.BO Signals & Forecast
Mostly positive signals in the chart today. The ECS Biztech 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 ₹11.42 and ₹9.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 21.46%. 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). ECS Biztech Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for ECS Biztech Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹11.70 and ₹10.81. 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, ECS Biztech Limited finds support just below today's level at ₹11.70. If this is broken, then the next support from accumulated volume will be at ₹10.81 and ₹10.69.
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 ₹1.24 between high and low, or 10.44%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: ₹12.07 (-3.54%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (ECS.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ECS Biztech Limited to open at ₹12.50, and during the day (based on 14 day Average True Range), to move between ₹11.80 and ₹13.22, which gives a possible trading interval of +/-₹0.713 (+/-5.70%) up or down from last closing price. If ECS Biztech Limited takes out the full calculated possible swing range there will be an estimated 11.39% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹11.70, some ₹0.81 (6.47%) from the current price of ₹12.51, our system finds the risk reward attractive.
Is ECS Biztech Limited stock A Buy?
ECS Biztech Limited holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape 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: 6.064 Strong Buy Candidate Unchanged
Predicted Opening Price for ECS Biztech Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹12.50 ( 0.0533%) | ₹12.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ECS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.74 | 9.86% |
| R2 | 13.27 | 6.07% |
| R1 | 12.98 | 3.73% |
| Price | 12.51 | |
| S1 | 12.03 | -3.84% |
| S2 | 11.74 | -6.18% |
| S3 | 11.26 | -9.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 12.51 | |
| S1 | 11.70 | -6.47% |
| S2 | 10.81 | -13.59% |
| S3 | 10.69 | -14.55% |
FAQ
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