Eros International Media Limited Stock Forecast
Green day on Friday for Eros International Media Limited stock after gaining 1.67%
(Updated on May 17, 2024)
The Eros International Media Limited stock price gained 1.67% on the last trading day (Friday, 17th May 2024), rising from ₹21.00 to ₹21.35. During the last trading day the stock fluctuated 3.10% from a day low at ₹21.00 to a day high of ₹21.65. The price has fallen in 6 of the last 10 days and is down by -2.73% for this period. Volume fell on the last day by -94 thousand shares and in total, 409 thousand shares were bought and sold for approximately ₹8.74 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 the upper part of a very wide and falling 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 ₹22.32 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -10.79% during the next 3 months and, with a 90% probability hold a price between ₹14.56 and ₹19.92 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EROSMEDIA.NS Signals & Forecast
The Eros International Media Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹20.64 and ₹21.00. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -7.17%. 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 Eros International Media Limited stock
Eros International Media Limited finds support from accumulated volume at ₹21.20 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 ₹0.650 between high and low, or 3.10%. For the last week, the stock has had daily average volatility of 4.36%.
Our recommended stop-loss: ₹20.41 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (EROSMEDIA.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Eros International Media Limited to open at ₹21.33, and during the day (based on 14 day Average True Range), to move between ₹20.41 and ₹22.29, which gives a possible trading interval of +/-₹0.94 (+/-4.41%) up or down from last closing price. If Eros International Media Limited takes out the full calculated possible swing range there will be an estimated 8.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.20 (0.70%) than the resistance at ₹21.90 (2.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eros International Media Limited stock A Buy?
Eros International Media Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.809 Hold/Accumulate Unchanged
Predicted Opening Price for Eros International Media Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹21.33 ( 0.0781%) | ₹21.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EROSMEDIA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.98 | 2.97 % | |
| R2 | 21.74 | 1.80 % | ||
| R1 | 21.58 | 1.08 % | ||
| Current price: | 21.35 | |||
| Support | S1 | 21.09 | -1.24 % | |
| S2 | 20.93 | -1.96 % | ||
| S3 | 20.68 | -3.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.95 | 21.55 % | |
| R2 | 23.00 | 7.73 % | ||
| R1 | 21.90 | 2.58 % | ||
| Current price | 21.35 | |||
| Support | S1 | 21.20 | -0.703% | |
| S2 | 19.30 | -9.60% | ||
| S3 | 18.75 | -12.18% |
EROSMEDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 13, 2013 | Feb 21, 2013 | Mar 14, 2013 | ₹1.50 | 0.83% |
FAQ
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