Elpro International Limited Stock Forecast
Evaluation of Elpro International Limited stock downgraded after the last trading session.
(Updated on Apr 30, 2024)
The Elpro International Limited stock price fell by -0.766% on the last day (Tuesday, 30th Apr 2024) from ₹93.98 to ₹93.26. During the last trading day the stock fluctuated 1.33% from a day low at ₹93.01 to a day high of ₹94.25. The price has risen in 8 of the last 10 days and is up by 3.08% over the past 2 weeks. Volume has increased on the last day by 33 thousand 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, 94 thousand shares were bought and sold for approximately ₹8.78 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹93.97 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Elpro International Limited stock with a 90% probability to be traded between ₹75.39 and ₹93.59 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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ELPROINTL.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.766%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Elpro International 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 ₹93.20 and ₹86.97. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Elpro International Limited stock
Elpro International Limited finds support from accumulated volume at ₹93.21 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 ₹1.24 between high and low, or 1.33%. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: ₹90.43 (-3.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (ELPROINTL.BO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Elpro International Limited to open at ₹93.51, and during the day (based on 14 day Average True Range), to move between ₹90.46 and ₹96.06, which gives a possible trading interval of +/-₹2.80 (+/-3.00%) up or down from last closing price. If Elpro International Limited takes out the full calculated possible swing range there will be an estimated 6.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹93.21 (0.05%) than the resistance at ₹93.87 (0.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Elpro International Limited stock A Buy?
Elpro International 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: 0.005 Hold/Accumulate Downgraded
Predicted Opening Price for Elpro International Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₹93.51 ( 0.264%) | ₹93.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ELPROINTL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.75 | 1.59 % | |
| R2 | 94.27 | 1.09 % | ||
| R1 | 93.98 | 0.772 % | ||
| Current price: | 93.26 | |||
| Support | S1 | 93.03 | -0.243 % | |
| S2 | 92.74 | -0.557 % | ||
| S3 | 92.27 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.98 | 0.772 % | |
| R2 | 93.93 | 0.718 % | ||
| R1 | 93.87 | 0.654 % | ||
| Current price | 93.26 | |||
| Support | S1 | 93.21 | -0.0536% | |
| S2 | 89.98 | -3.52% | ||
| S3 | 75.89 | -18.63% |
ELPROINTL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 13, 2023 | Nov 13, 2023 | Dec 01, 2023 | ₹0.600 | 0.642% |
| 2 | Jun 09, 2023 | Jun 09, 2023 | Jun 28, 2023 | ₹0.230 | 0.338% |
| 3 | Sep 13, 2006 | Sep 13, 2006 | Sep 13, 2006 | ₹0.0305 | 0.597% |
| 4 | Sep 22, 2005 | Sep 22, 2005 | Sep 22, 2005 | ₹0.0305 | 0.525% |
| 5 | Dec 02, 2002 | Dec 02, 2002 | Dec 02, 2002 | ₹0.0305 | 4.55% |
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