Globus Spirits Limited Stock Forecast
Evaluation of Globus Spirits Limited stock downgraded after the last trading session.
(Updated on Apr 26, 2024)
The Globus Spirits Limited stock price gained 0.353% on the last trading day (Friday, 26th Apr 2024), rising from ₹792.15 to ₹794.95. During the last trading day the stock fluctuated 1.55% from a day low at ₹789.30 to a day high of ₹801.55. The price has risen in 6 of the last 10 days but is still down by -0.09% for this period. Volume fell on the last day by -8 thousand shares and in total, 47 thousand shares were bought and sold for approximately ₹36.99 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 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 ₹797.26 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 -5.34% during the next 3 months and, with a 90% probability hold a price between ₹616.51 and ₹754.71 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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GLOBUSSPR.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -1.49%. 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). The Globus Spirits 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 ₹785.23 and ₹758.01. A breakdown below any of these levels will issue sell signals. 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 Globus Spirits Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹750.35 and ₹673.85. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Globus Spirits Limited finds support just below today's level at ₹750.35. If this is broken, then the next support from accumulated volume will be at ₹673.85 and ₹665.50.
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 ₹12.25 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 2.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLOBUSSPR.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Globus Spirits Limited to open at ₹795.27, and during the day (based on 14 day Average True Range), to move between ₹772.60 and ₹817.30, which gives a possible trading interval of +/-₹22.35 (+/-2.81%) up or down from last closing price. If Globus Spirits Limited takes out the full calculated possible swing range there will be an estimated 5.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹805.95 (1.38%) than the support at ₹750.35 (5.61%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Globus Spirits Limited stock A Buy?
Globus Spirits 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.326 Sell Candidate Downgraded
Predicted Opening Price for Globus Spirits Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹795.27 ( 0.0398%) | ₹794.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLOBUSSPR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 807.52 | 1.58 % | |
| R2 | 802.84 | 0.99 % | ||
| R1 | 799.95 | 0.628 % | ||
| Current price: | 794.95 | |||
| Support | S1 | 790.59 | -0.549 % | |
| S2 | 787.70 | -0.91 % | ||
| S3 | 783.02 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 857.00 | 7.81 % | |
| R2 | 807.05 | 1.52 % | ||
| R1 | 805.95 | 1.38 % | ||
| Current price | 794.95 | |||
| Support | S1 | 750.35 | -5.61% | |
| S2 | 673.85 | -15.23% | ||
| S3 | 665.50 | -16.28% |
GLOBUSSPR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ₹6.00 | 0.481% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹3.00 | 0.341% |
| 3 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | ₹2.00 | 0.157% |
| 4 | Sep 18, 2020 | Sep 18, 2020 | Sep 18, 2020 | ₹1.00 | 0.376% |
| 5 | May 20, 2013 | Sep 12, 2013 | Oct 25, 2013 | ₹1.20 | 1.21% |
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