Fredun Pharmaceuticals Limited Stock Forecast
Fredun Pharmaceuticals Limited stock upgraded to Hold/Accumulate.
(Updated on May 30, 2024)
The Fredun Pharmaceuticals Limited stock price fell by -1.12% on the last day (Thursday, 30th May 2024) from ₹802.90 to ₹793.90. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.77% from a day low at ₹790.00 to a day high of ₹819.75. The price has fallen in 8 of the last 10 days and is down by -11.62% for this period. 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 -2 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹3.55 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹786.37 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.58% during the next 3 months and, with a 90% probability hold a price between ₹885.33 and ₹1,166.42 at the end of this 3-month period.
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FREDUN.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Fredun Pharmaceuticals Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹823.39 and ₹845.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -20.80%. 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 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 Fredun Pharmaceuticals Limited stock
Fredun Pharmaceuticals Limited finds support from accumulated volume at ₹769.70 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 ₹29.75 between high and low, or 3.77%. For the last week, the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: ₹745.00 (-6.16%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (FREDUN.BO) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect Fredun Pharmaceuticals Limited to open at ₹801.22, and during the day (based on 14 day Average True Range), to move between ₹747.78 and ₹840.02, which gives a possible trading interval of +/-₹46.12 (+/-5.81%) up or down from last closing price. If Fredun Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 11.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹769.70 (3.05%) than the resistance at ₹905.25 (14.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Fredun Pharmaceuticals Limited stock A Buy?
Fredun Pharmaceuticals 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.100 Hold/Accumulate Upgraded
Predicted Opening Price for Fredun Pharmaceuticals Limited of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| ₹801.22 ( 0.92%) | ₹793.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FREDUN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 830.97 | 4.67 % | |
| R2 | 819.60 | 3.24 % | ||
| R1 | 812.58 | 2.35 % | ||
| Current price: | 793.90 | |||
| Support | S1 | 789.85 | -0.510 % | |
| S2 | 782.83 | -1.39 % | ||
| S3 | 771.47 | -2.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 981.65 | 23.65 % | |
| R2 | 934.45 | 17.70 % | ||
| R1 | 905.25 | 14.03 % | ||
| Current price | 793.90 | |||
| Support | S1 | 769.70 | -3.05% | |
| S2 | 717.30 | -9.65% | ||
| S3 | 683.20 | -13.94% |
FREDUN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹0.700 | 0.0851% |
| 2 | Sep 14, 2022 | Sep 14, 2022 | Oct 30, 2022 | ₹0.700 | 0.0579% |
| 3 | Sep 16, 2021 | Sep 16, 2021 | Oct 27, 2021 | ₹0.700 | 0.147% |
| 4 | Sep 18, 2020 | Sep 18, 2020 | Oct 28, 2020 | ₹0.660 | 0.244% |
| 5 | Sep 16, 2019 | Sep 16, 2019 | Oct 24, 2019 | ₹0.650 | 0.289% |
FAQ
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