Goenka Business & Finance Limited Stock Forecast

Big movements in Goenka Business & Finance Limited stock price on Friday moving 12.38% between high and low
(Updated on May 31, 2024)

GBFL.BO Signals & Forecast

The Goenka Business & Finance 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 ₹6.58 and ₹6.62. A breakdown below any of these levels will issue sell signals. 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, May 30, 2024, and so far it has fallen -4.53%. 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 along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Goenka Business & Finance Limited stock

Goenka Business & Finance Limited finds support from accumulated volume at ₹6.67 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.770 between high and low, or 12.38%. For the last week the stock has had daily average volatility of 5.43%.

Our recommended stop-loss: ₹6.36 (-5.81%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)

Trading Expectations (GBFL.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Goenka Business & Finance Limited to open at ₹6.65, and during the day (based on 14 day Average True Range), to move between ₹6.32 and ₹7.18, which gives a possible trading interval of +/-₹0.427 (+/-6.33%) up or down from last closing price. If Goenka Business & Finance Limited takes out the full calculated possible swing range there will be an estimated 12.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹6.67 (1.19%) than the resistance at ₹6.88 (1.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Goenka Business & Finance Limited stock A Buy?

Goenka Business & Finance 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: 0.087 Hold/Accumulate Downgraded

Predicted Opening Price for Goenka Business & Finance Limited of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.