Exicom Tele-systems Limited Stock Forecast
High volatility in Exicom Tele-systems Limited stock price on Wednesday which ended trading at ₹351.65
(Updated on Jun 19, 2024)
The Exicom Tele-systems Limited stock price gained 6.77% on the last trading day (Wednesday, 19th Jun 2024), rising from ₹329.35 to ₹351.65. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 11.52% from a day low at ₹324.25 to a day high of ₹361.60. The price has risen in 9 of the last 10 days and is up by 27.25% over the past 2 weeks. Volume fell on the last day by -172 thousand shares and in total, 343 thousand shares were bought and sold for approximately ₹120.78 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 in the upper part of a very wide and strong 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 ₹366.81 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 40.53% during the next 3 months and, with a 90% probability hold a price between ₹397.78 and ₹515.50 at the end of this 3-month period.
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EXICOM.BO Signals & Forecast
Mostly positive signals in the chart today. The Exicom Tele-systems 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 ₹324.44 and ₹289.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 27.25%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Exicom Tele-systems Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹314.60 and ₹294.75. 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, Exicom Tele-systems Limited finds support just below today's level at ₹314.60. If this is broken, then the next support from accumulated volume will be at ₹294.75 and ₹276.35.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹37.35 between high and low, or 11.52%. For the last week, the stock has had daily average volatility of 6.29%.
Our recommended stop-loss: ₹341.03 (-3.02%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (EXICOM.BO) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Exicom Tele-systems Limited to open at ₹345.83, and during the day (based on 14 day Average True Range), to move between ₹329.93 and ₹373.37, which gives a possible trading interval of +/-₹21.72 (+/-6.18%) up or down from last closing price. If Exicom Tele-systems Limited takes out the full calculated possible swing range there will be an estimated 12.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹314.60, some ₹37.05 (10.54%) from the current price of ₹351.65, our system finds the risk reward attractive.
Is Exicom Tele-systems Limited stock A Buy?
Exicom Tele-systems Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.909 Strong Buy Candidate Unchanged
Predicted Opening Price for Exicom Tele-systems Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹345.83 ( 1.65%) | ₹351.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXICOM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 383.18 | 8.97% |
| R2 | 368.92 | 4.91% |
| R1 | 360.10 | 2.40% |
| Price | 351.65 | |
| S1 | 331.57 | -5.71% |
| S2 | 322.75 | -8.22% |
| S3 | 308.48 | -12.28% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 351.65 | |
| S1 | 314.60 | -10.54% |
| S2 | 294.75 | -16.18% |
| S3 | 276.35 | -21.41% |
FAQ
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