Everest Kanto Cylinder Limited Stock Forecast
Everest Kanto Cylinder Limited stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on May 24, 2024)
The Everest Kanto Cylinder Limited stock price gained 0.143% on the last trading day (Friday, 24th May 2024), rising from ₹139.80 to ₹140.00. During the last trading day the stock fluctuated 4.06% from a day low at ₹136.55 to a day high of ₹142.10. The price has risen in 6 of the last 10 days and is up by 4.24% 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, 245 thousand more shares were traded than the day before. In total, 460 thousand shares were bought and sold for approximately ₹64.35 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Everest Kanto Cylinder Limited stock with a 90% probability to be traded between ₹113.31 and ₹151.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EKC.NS Signals & Forecast
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. The Everest Kanto Cylinder Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹140.61 and ₹144.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -9.94%. 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).
Support, Risk & Stop-loss for Everest Kanto Cylinder Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹131.50 and ₹128.60. 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, Everest Kanto Cylinder Limited finds support just below today's level at ₹131.50. If this is broken, then the next support from accumulated volume will be at ₹128.60 and ₹117.10.
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 ₹5.55 between high and low, or 4.06%. For the last week, the stock has had daily average volatility of 3.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EKC.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Everest Kanto Cylinder Limited to open at ₹139.55, and during the day (based on 14 day Average True Range), to move between ₹134.90 and ₹145.10, which gives a possible trading interval of +/-₹5.10 (+/-3.64%) up or down from last closing price. If Everest Kanto Cylinder Limited takes out the full calculated possible swing range there will be an estimated 7.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹131.50 (6.07%) than the resistance at ₹153.40 (9.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Everest Kanto Cylinder Limited stock A Buy?
Everest Kanto Cylinder Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.871 Sell Candidate Upgraded
Predicted Opening Price for Everest Kanto Cylinder Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹139.55 ( 0.321%) | ₹140.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EKC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 145.10 | 3.64 % | |
| R2 | 142.98 | 2.13 % | ||
| R1 | 141.67 | 1.19 % | ||
| Current price: | 140.00 | |||
| Support | S1 | 137.43 | -1.84 % | |
| S2 | 136.12 | -2.77 % | ||
| S3 | 134.00 | -4.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 165.45 | 18.18 % | |
| R2 | 154.60 | 10.43 % | ||
| R1 | 153.40 | 9.57 % | ||
| Current price | 140.00 | |||
| Support | S1 | 131.50 | -6.07% | |
| S2 | 128.60 | -8.14% | ||
| S3 | 117.10 | -16.36% |
EKC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹0.700 | 0.569% |
| 2 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹0.300 | 0.238% |
| 3 | May 30, 2013 | Jul 10, 2013 | Jul 29, 2013 | ₹0.200 | 1.60% |
| 4 | May 30, 2012 | Aug 02, 2012 | Aug 17, 2012 | ₹0.250 | 0.93% |
| 5 | May 27, 2011 | Jul 21, 2011 | Aug 29, 2011 | ₹1.50 | 2.07% |
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