Genus Power Infrastructures Limited Stock Forecast
Genus Power Infrastructures Limited stock upgraded to Strong Buy Candidate.
(Updated on Apr 19, 2024)
The Genus Power Infrastructures Limited stock price gained 3.09% on the last trading day (Friday, 19th Apr 2024), rising from ₹292.50 to ₹301.55. It has now gained 5 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 8.44% from a day low at ₹283.20 to a day high of ₹307.10. The price has risen in 8 of the last 10 days and is up by 20.45% over the past 2 weeks. Volume fell on the last day by -225 thousand shares and in total, 95 thousand shares were bought and sold for approximately ₹28.74 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 the upper part of a very wide and falling 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 ₹315.42 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.70% during the next 3 months and, with a 90% probability hold a price between ₹187.74 and ₹291.12 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GENUSPOWER.BO Signals & Forecast
Mostly positive signals in the chart today. The Genus Power Infrastructures 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 ₹278.58 and ₹245.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 41.31%. 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 Genus Power Infrastructures Limited stock
Genus Power Infrastructures Limited finds support from accumulated volume at ₹292.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹23.90 between high and low, or 8.44%. For the last week, the stock has had daily average volatility of 7.17%.
The Genus Power Infrastructures Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹292.12 (-3.13%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (GENUSPOWER.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Genus Power Infrastructures Limited to open at ₹297.28, and during the day (based on 14 day Average True Range), to move between ₹286.78 and ₹316.32, which gives a possible trading interval of +/-₹14.77 (+/-4.90%) up or down from last closing price. If Genus Power Infrastructures Limited takes out the full calculated possible swing range there will be an estimated 9.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹292.50 (3.00%) than the resistance at ₹310.90 (3.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Genus Power Infrastructures Limited stock A Buy?
Genus Power Infrastructures Limited holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Genus Power Infrastructures Limited stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.656 Strong Buy Candidate Upgraded
Predicted Opening Price for Genus Power Infrastructures Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹297.28 ( 1.41%) | ₹301.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GENUSPOWER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 321.18 | 6.51 % | |
| R2 | 312.05 | 3.48 % | ||
| R1 | 306.41 | 1.61 % | ||
| Current price: | 301.55 | |||
| Support | S1 | 288.15 | -4.44 % | |
| S2 | 282.51 | -6.31 % | ||
| S3 | 273.38 | -9.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 336.30 | 11.52 % | |
| R2 | 322.30 | 6.88 % | ||
| R1 | 310.90 | 3.10 % | ||
| Current price | 301.55 | |||
| Support | S1 | 292.50 | -3.00% | |
| S2 | 278.00 | -7.81% | ||
| S3 | 277.90 | -7.84% |
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