Edelweiss Financial Services Limited Stock Forecast
Edelweiss Financial Services Limited stock price ended at ₹71.64 on Friday, after gaining 4.89%.
(Updated on May 31, 2024)
The Edelweiss Financial Services Limited stock price gained 4.89% on the last trading day (Friday, 31st May 2024), rising from ₹68.30 to ₹71.64. During the last trading day the stock fluctuated 5.89% from a day low at ₹68.46 to a day high of ₹72.49. The price has fallen in 7 of the last 10 days and is down by -8.75% for this period. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately ₹113.07 million. 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 ₹68.48 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 13.46% during the next 3 months and, with a 90% probability hold a price between ₹77.70 and ₹98.65 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.
EDELWEISS.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.89%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Edelweiss Financial Services 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 ₹77.28 and ₹76.99. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Edelweiss Financial Services Limited stock
Edelweiss Financial Services Limited finds support from accumulated volume at ₹68.30 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹4.03 between high and low, or 5.89%. For the last week, the stock has had daily average volatility of 5.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EDELWEISS.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Edelweiss Financial Services Limited to open at ₹70.86, and during the day (based on 14 day Average True Range), to move between ₹67.21 and ₹76.07, which gives a possible trading interval of +/-₹4.43 (+/-6.19%) up or down from last closing price. If Edelweiss Financial Services Limited takes out the full calculated possible swing range there will be an estimated 12.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹73.28 (2.29%) than the support at ₹68.30 (4.66%), 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.
Is Edelweiss Financial Services Limited stock A Buy?
The Edelweiss Financial Services Limited stock holds several negative signals and despite the positive trend, we believe Edelweiss Financial Services Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.813 Sell Candidate Unchanged
Predicted Opening Price for Edelweiss Financial Services Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹70.86 ( 1.08%) | ₹71.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDELWEISS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 74.89 | 4.54 % | |
| R2 | 73.35 | 2.39 % | ||
| R1 | 72.40 | 1.06 % | ||
| Current price: | 71.64 | |||
| Support | S1 | 69.32 | -3.23 % | |
| S2 | 68.37 | -4.56 % | ||
| S3 | 66.83 | -6.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.29 | 19.05 % | |
| R2 | 84.25 | 17.60 % | ||
| R1 | 73.28 | 2.29 % | ||
| Current price | 71.64 | |||
| Support | S1 | 68.30 | -4.66% | |
| S2 | 65.45 | -8.64% | ||
| S3 | 63.61 | -11.21% |
EDELWEISS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 18, 2023 | Sep 18, 2023 | Sep 24, 2023 | ₹1.25 | 2.34% |
| 2 | Apr 13, 2023 | Apr 13, 2023 | Apr 29, 2023 | ₹0.250 | 0.376% |
| 3 | Feb 02, 2018 | Feb 02, 2018 | Feb 16, 2018 | ₹1.05 | 0.402% |
| 4 | Jul 20, 2017 | Jul 20, 2017 | Aug 11, 2017 | ₹0.300 | 0.127% |
| 5 | Feb 17, 2017 | Feb 17, 2017 | Feb 22, 2017 | ₹1.00 | 0.781% |
FAQ
Click here for our free guide on how to buy Edelweiss Financial Services Limited Stock.
