Globus Power Generation Limited Stock Forecast

Globus Power Generation Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)

GLOBUSCON.BO Signals & Forecast

The Globus Power Generation Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹17.34. On a fall, the stock will find some support from the long-term average at approximately ₹16.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 02, 2024, and so far it has fallen -6.82%. Further fall is indicated until a new bottom pivot has been found. Globus Power Generation Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Globus Power Generation Limited stock

Globus Power Generation Limited finds support from accumulated volume at ₹16.33 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 ₹0.85 between high and low, or 5.11%. For the last week, the stock has had daily average volatility of 6.95%.

Our recommended stop-loss: ₹15.91 (-4.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (GLOBUSCON.BO) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Globus Power Generation Limited to open at ₹16.94, and during the day (based on 14 day Average True Range), to move between ₹15.54 and ₹17.82, which gives a possible trading interval of +/-₹1.14 (+/-6.84%) up or down from last closing price. If Globus Power Generation Limited takes out the full calculated possible swing range there will be an estimated 13.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹16.33 (2.10%) than the resistance at ₹17.10 (2.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Globus Power Generation Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.473 Buy Candidate Upgraded

Predicted Opening Price for Globus Power Generation Limited of Friday, May 10, 2024

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