Force Motors Limited Stock Forecast
Force Motors Limited stock price down 0.694% on Wednesday
(Updated on Jun 26, 2024)
The Force Motors Limited stock price fell by -0.694% on the last day (Wednesday, 26th Jun 2024) from ₹9,134.05 to ₹9,070.65. During the last trading day the stock fluctuated 2.49% from a day low at ₹9,020.25 to a day high of ₹9,245.00. The price has fallen in 6 of the last 10 days but is still up by 0.5% over the past 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 -3 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹25.05 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.76% during the next 3 months and, with a 90% probability hold a price between ₹8,202.66 and ₹10,958.79 at the end of this 3-month period.
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FORCEMOT.BO Signals & Forecast
The Force Motors 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 ₹9,059.50 and ₹8,823.68. 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 Wednesday, April 24, 2024, and so far it has fallen -8.87%. 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.
Support, Risk & Stop-loss for Force Motors Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹8,614.35 and ₹8,582.90. 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, Force Motors Limited finds support just below today's level at ₹8,614.35. If this is broken, then the next support from accumulated volume will be at ₹8,582.90 and ₹8,194.45.
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 ₹224.75 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: ₹8,557.25 (-5.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 67 days ago.)
Trading Expectations (FORCEMOT.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Force Motors Limited to open at ₹9,111.97, and during the day (based on 14 day Average True Range), to move between ₹8,661.38 and ₹9,479.92, which gives a possible trading interval of +/-₹409.27 (+/-4.51%) up or down from last closing price. If Force Motors Limited takes out the full calculated possible swing range there will be an estimated 9.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹9,320.15 (2.75%) than the support at ₹8,614.35 (5.03%), 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 Force Motors Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Force Motors Limited stock to perform well in the short-term.
Current score: 3.258 Buy Candidate Unchanged
Predicted Opening Price for Force Motors Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹9,111.97 ( 0.455%) | ₹9,070.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FORCEMOT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9,336.72 | 2.93% |
| R2 | 9,250.86 | 1.99% |
| R1 | 9,197.82 | 1.40% |
| Price | 9,070.65 | |
| S1 | 9,026.11 | -0.491% |
| S2 | 8,973.07 | -1.08% |
| S3 | 8,887.22 | -2.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9,843.05 | 8.52% |
| R2 | 9,515.65 | 4.91% |
| R1 | 9,320.15 | 2.75% |
| Price | 9,070.65 | |
| S1 | 8,614.35 | -5.03% |
| S2 | 8,582.90 | -5.38% |
| S3 | 8,194.45 | -9.66% |
FORCEMOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2023 | Sep 21, 2023 | Oct 28, 2023 | ₹10.00 | 0.283% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Oct 28, 2022 | ₹10.00 | 0.761% |
| 3 | Sep 05, 2017 | Sep 05, 2017 | Oct 13, 2017 | ₹10.00 | 0.270% |
| 4 | Mar 17, 2016 | Mar 17, 2016 | Mar 17, 2016 | ₹10.00 | 0.389% |
| 5 | Sep 16, 2015 | Sep 16, 2015 | Sep 16, 2015 | ₹5.00 | 0.221% |
FAQ
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