The Great Eastern Shipping Co Ltd Stock Forecast
The Great Eastern Shipping Co Ltd stock price ended at ₹1,022.50 on Thursday, after gaining 2.55%.
(Updated on Apr 18, 2024)
The The Great Eastern Shipping Co Ltd stock price gained 2.55% on the last trading day (Thursday, 18th Apr 2024), rising from ₹997.10 to ₹1,022.50. During the last trading day the stock fluctuated 4.38% from a day low at ₹983.45 to a day high of ₹1,026.50. The price has risen in 6 of the last 10 days and is up by 0.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 310 thousand more shares were traded than the day before. In total, 740 thousand shares were bought and sold for approximately ₹756.71 million.
The stock lies in the middle of a 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 2.79% during the next 3 months and, with a 90% probability hold a price between ₹984.82 and ₹1,074.04 at the end of this 3-month period.
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GESHIP.NS Signals & Forecast
Mostly positive signals in the chart today. The The Great Eastern Shipping Co Ltd 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 ₹984.89 and ₹987.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 6.83%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for The Great Eastern Shipping Co Ltd stock
The Great Eastern Shipping Co Ltd finds support from accumulated volume at ₹1,022.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹43.05 (4.38%) between high and low. For the last week, the stock has had daily average volatility of 3.72%.
Our recommended stop-loss: ₹982.83 (-3.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GESHIP.NS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect The Great Eastern Shipping Company Limited to open at ₹1,010.82, and during the day (based on 14 day Average True Range), to move between ₹983.92 and ₹1,061.08, which gives a possible trading interval of +/-₹38.58 (+/-3.77%) up or down from last closing price. If The Great Eastern Shipping Company Limited takes out the full calculated possible swing range there will be an estimated 7.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,022.05 (0.04%) than the resistance at ₹1,024.55 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Great Eastern Shipping Company 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 The Great Eastern Shipping Co Ltd stock to perform well in the short-term.
Current score: 2.029 Buy Candidate Unchanged
Predicted Opening Price for The Great Eastern Shipping Company Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| ₹1,010.82 ( 1.14%) | ₹1,022.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GESHIP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,053.87 | 3.07 % | |
| R2 | 1,037.42 | 1.46 % | ||
| R1 | 1,027.26 | 0.466 % | ||
| Current price: | 1,022.50 | |||
| Support | S1 | 994.37 | -2.75 % | |
| S2 | 984.21 | -3.74 % | ||
| S3 | 967.77 | -5.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,041.05 | 1.81 % | |
| R2 | 1,031.35 | 0.87 % | ||
| R1 | 1,024.55 | 0.200 % | ||
| Current price | 1,022.50 | |||
| Support | S1 | 1,022.05 | -0.0440% | |
| S2 | 1,014.65 | -0.768% | ||
| S3 | 1,005.90 | -1.62% |
GESHIP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 12, 2024 | Mar 01, 2024 | ₹6.30 | 0.631% |
| 2 | Nov 08, 2023 | Nov 08, 2023 | Nov 08, 2023 | ₹6.30 | 0.82% |
| 3 | Aug 14, 2023 | Aug 14, 2023 | Aug 14, 2023 | ₹7.50 | 1.02% |
| 4 | May 24, 2023 | May 24, 2023 | May 24, 2023 | ₹9.00 | 1.34% |
| 5 | Feb 10, 2023 | Feb 10, 2023 | Feb 10, 2023 | ₹7.20 | 1.16% |
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