Edelweiss Financial Services 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
Volatile ride for Edelweiss Financial Services Limited stock price on Friday moving between ₹77.70 and ₹86.00
(Updated on May 17, 2024)
The Edelweiss Financial Services Limited stock price gained 8.64% on the last trading day (Friday, 17th May 2024), rising from ₹78.51 to ₹85.29. During the last trading day the stock fluctuated 10.68% from a day low at ₹77.70 to a day high of ₹86.00. The price has fallen in 6 of the last 10 days but is still up by 10.75% 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, 3 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₹288.58 million.
Given the current short-term trend, the stock is expected to rise 3.39% during the next 3 months and, with a 90% probability hold a price between ₹66.40 and ₹88.18 at the end of this 3-month period.
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EDELWEISS.BO Signals & Forecast
The Edelweiss Financial Services 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 ₹77.62 and ₹74.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 26, 2024, and so far it has risen 36.25%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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).
Support, Risk & Stop-loss for Edelweiss Financial Services Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹78.62 and ₹74.65. 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, Edelweiss Financial Services Limited finds support just below today's level at ₹78.62. If this is broken, then the next support from accumulated volume will be at ₹74.65 and ₹73.28.
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 ₹8.30 between high and low, or 10.68%. For the last week, the stock has had daily average volatility of 6.39%.
Our recommended stop-loss: ₹82.15 (-3.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (EDELWEISS.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Edelweiss Financial Services Limited to open at ₹83.00, and during the day (based on 14 day Average True Range), to move between ₹81.30 and ₹89.28, which gives a possible trading interval of +/-₹3.99 (+/-4.68%) 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 9.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹78.62, some ₹6.67 (7.82%) from the current price of ₹85.29, our system finds the risk reward attractive.
Earnings coming up
Edelweiss Financial Services Limited will release earnings BMO on Friday, May 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.23. We will update the financials statements for Edelweiss Financial Services Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.71% in the first trading day after earnings release.
Is Edelweiss Financial Services Limited stock A Buy?
Edelweiss Financial Services 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Edelweiss Financial Services Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹83.00 ( 2.69%) | ₹85.29 |
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 | 91.30 | 7.04 % | |
| R2 | 88.13 | 3.33 % | ||
| R1 | 86.17 | 1.03 % | ||
| Current price: | 85.29 | |||
| Support | S1 | 79.83 | -6.41 % | |
| S2 | 77.87 | -8.70 % | ||
| S3 | 74.70 | -12.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 85.29 | |||
| Support | S1 | 78.62 | -7.82% | |
| S2 | 74.65 | -12.48% | ||
| S3 | 73.28 | -14.08% |
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
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