Federal-Mogul Goetze (India) Limited Stock Forecast
Evaluation of Federal-Mogul Goetze (India) Limited stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Federal-Mogul Goetze (India) Limited stock price fell by -0.0533% on the last day (Friday, 19th Apr 2024) from ₹374.90 to ₹374.70. During the last trading day the stock fluctuated 3.50% from a day low at ₹366.65 to a day high of ₹379.50. The price has been going up and down for this period, and there has been a 4.87% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -302 thousand shares and in total, 100 thousand shares were bought and sold for approximately ₹37.65 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹374.38, a level that may pose a second chance to hit a runner. According to fan-theory ₹441.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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FMGOETZE.NS Signals & Forecast
The Federal-Mogul Goetze (India) 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 ₹365.66 and ₹347.46. 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 Thursday, April 18, 2024, and so far it has fallen -0.0533%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, January 10, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, January 10, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Federal-Mogul Goetze (India) Limited stock
Federal-Mogul Goetze (India) Limited finds support from accumulated volume at ₹368.40 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 ₹12.85 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 4.43%.
The Federal-Mogul Goetze (India) Limited stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹362.11 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (FMGOETZE.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Federal-Mogul Goetze (India) Limited to open at ₹373.62, and during the day (based on 14 day Average True Range), to move between ₹362.17 and ₹387.23, which gives a possible trading interval of +/-₹12.53 (+/-3.34%) up or down from last closing price. If Federal-Mogul Goetze (India) Limited takes out the full calculated possible swing range there will be an estimated 6.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹374.90 (0.05%) than the support at ₹368.40 (1.68%), 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.
Is Federal-Mogul Goetze (India) Limited stock A Buy?
Federal-Mogul Goetze (India) 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: 0.176 Hold/Accumulate Downgraded
Predicted Opening Price for Federal-Mogul Goetze (India) Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹373.62 ( 0.289%) | ₹374.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FMGOETZE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 386.47 | 3.14 % | |
| R2 | 381.56 | 1.83 % | ||
| R1 | 378.53 | 1.02 % | ||
| Current price: | 374.70 | |||
| Support | S1 | 368.71 | -1.60 % | |
| S2 | 365.68 | -2.41 % | ||
| S3 | 360.77 | -3.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 392.15 | 4.66 % | |
| R2 | 388.45 | 3.67 % | ||
| R1 | 374.90 | 0.0534 % | ||
| Current price | 374.70 | |||
| Support | S1 | 368.40 | -1.68% | |
| S2 | 367.10 | -2.03% | ||
| S3 | 354.40 | -5.42% |
FMGOETZE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2005 | Sep 06, 2005 | Sep 24, 2005 | ₹4.00 | 1.75% |
| 2 | Jun 09, 2004 | Sep 08, 2004 | Sep 25, 2004 | ₹3.00 | 3.24% |
| 3 | May 29, 2003 | Sep 11, 2003 | Sep 30, 2003 | ₹2.00 | 4.61% |
| 4 | Sep 24, 2002 | Nov 21, 2002 | Dec 11, 2002 | ₹1.00 | 4.67% |
FAQ
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