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
Evaluation of Edelweiss Financial Services Limited stock downgraded after the last trading session.
(Updated on May 21, 2024)
The Edelweiss Financial Services Limited stock price fell by -1.06% on the last day (Tuesday, 21st May 2024) from ₹85.20 to ₹84.30. During the last trading day the stock fluctuated 5.22% from a day low at ₹83.30 to a day high of ₹87.65. The price has fallen in 5 of the last 10 days but is still up by 15.24% over the past 2 weeks. Volume has increased on the last day by 10 million 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, 10 million shares were bought and sold for approximately ₹832.77 million.
The stock lies in the upper part of a very wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹85.31 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.05% during the next 3 months and, with a 90% probability hold a price between ₹72.12 and ₹92.18 at the end of this 3-month period.
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EDELWEISS.NS 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 ₹80.42 and ₹76.23. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, May 20, 2024, and so far it has fallen -1.06%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 ₹78.60 and ₹73.35. 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 ₹78.60. If this is broken, then the next support from accumulated volume will be at ₹73.35 and ₹73.30.
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 ₹4.35 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 5.55%.
Our recommended stop-loss: ₹81.64 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (EDELWEISS.NS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Edelweiss Financial Services Limited to open at ₹85.08, and during the day (based on 14 day Average True Range), to move between ₹80.72 and ₹87.88, which gives a possible trading interval of +/-₹3.58 (+/-4.24%) 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 8.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹85.20 (1.07%) than the support at ₹78.60 (6.76%), 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
Edelweiss Financial Services Limited will release earnings BMO on Friday, May 24, 2024. 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 +/- 5.52% 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. 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: 0.000 Hold/Accumulate Downgraded
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 Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₹85.08 ( 0.93%) | ₹84.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EDELWEISS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 89.43 | 6.09 % | |
| R2 | 87.77 | 4.12 % | ||
| R1 | 86.75 | 2.90 % | ||
| Current price: | 84.30 | |||
| Support | S1 | 83.42 | -1.04 % | |
| S2 | 82.40 | -2.26 % | ||
| S3 | 80.73 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 85.20 | 1.07 % | ||
| Current price | 84.30 | |||
| Support | S1 | 78.60 | -6.76% | |
| S2 | 73.35 | -12.99% | ||
| S3 | 73.30 | -13.05% |
EDELWEISS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | ₹0.250 | 0.748% |
| 2 | Aug 25, 2022 | Aug 25, 2022 | Aug 25, 2022 | ₹1.20 | 3.38% |
| 3 | Apr 07, 2022 | Apr 07, 2022 | Apr 07, 2022 | ₹0.250 | 0.692% |
| 4 | Aug 26, 2021 | Aug 26, 2021 | Aug 26, 2021 | ₹0.550 | 1.15% |
| 5 | Apr 07, 2021 | Apr 07, 2021 | Apr 07, 2021 | ₹0.90 | 2.13% |
FAQ
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