Gautam Gems Limited Stock Forecast
Green day on Friday for Gautam Gems Limited stock after gaining 2.52%
(Updated on May 17, 2024)
The Gautam Gems Limited stock price gained 2.52% on the last trading day (Friday, 17th May 2024), rising from ₹8.72 to ₹8.94. During the last trading day the stock fluctuated 5.81% from a day low at ₹8.61 to a day high of ₹9.11. The price has been going up and down for this period, and there has been a -5.99% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 55 thousand shares were bought and sold for approximately ₹490.46 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.92% during the next 3 months and, with a 90% probability hold a price between ₹7.45 and ₹10.04 at the end of this 3-month period.
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GGL.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 7.58%. Further rise is indicated until a new top pivot has been found. Gautam Gems Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gautam Gems Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹9.81. On a fall, the stock will find some support from the short-term average at ₹8.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gautam Gems Limited stock
Gautam Gems Limited finds support from accumulated volume at ₹8.93 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 ₹0.500 between high and low, or 5.81%. For the last week, the stock has had daily average volatility of 9.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GGL.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Gautam Gems Limited to open at ₹8.89, and during the day (based on 14 day Average True Range), to move between ₹8.19 and ₹9.69, which gives a possible trading interval of +/-₹0.753 (+/-8.42%) up or down from last closing price. If Gautam Gems Limited takes out the full calculated possible swing range there will be an estimated 16.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹8.93 (0.11%) than the resistance at ₹9.96 (11.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gautam Gems Limited stock A Buy?
Gautam Gems Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.019 Sell Candidate Unchanged
Predicted Opening Price for Gautam Gems Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹8.89 ( 0.597%) | ₹8.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGL.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.39 | 5.00 % | |
R2 | 9.20 | 2.86 % | ||
R1 | 9.08 | 1.54 % | ||
Current price: | 8.94 | |||
Support | S1 | 8.70 | -2.73 % | |
S2 | 8.58 | -4.05 % | ||
S3 | 8.39 | -6.19 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.01 | 23.15 % | |
R2 | 10.90 | 21.92 % | ||
R1 | 9.96 | 11.41 % | ||
Current price | 8.94 | |||
Support | S1 | 8.93 | -0.112% | |
S2 | 8.76 | -2.01% | ||
S3 | 8.31 | -7.05% |
FAQ
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