Globus Spirits Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Monday for Globus Spirits Limited stock after losing 3.19%
(Updated on May 13, 2024)
The Globus Spirits Limited stock price fell by -3.19% on the last day (Monday, 13th May 2024) from ₹767.20 to ₹742.70. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.64% from a day low at ₹740.00 to a day high of ₹766.95. The price has fallen in 7 of the last 10 days and is down by -6.24% for this period. Volume has increased on the last day by 28 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 57 thousand shares were bought and sold for approximately ₹42.34 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Globus Spirits Limited stock with a 90% probability to be traded between ₹661.77 and ₹803.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GLOBUSSPR.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Globus Spirits Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹770.41 and ₹769.10. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -7.97%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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 ₹696.15 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 ₹696.15. If this is broken, then the next support from accumulated volume will be at ₹673.85 and ₹665.50.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹26.95 between high and low, or 3.64%. For the last week the stock has had daily average volatility of 2.26%.
Globus Spirits Limited is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect Globus Spirits Limited to open at ₹749.88, and during the day (based on 14 day Average True Range), to move between ₹724.54 and ₹760.86, which gives a possible trading interval of +/-₹18.16 (+/-2.45%) up or down from last closing price. If Globus Spirits Limited takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹750.35 (1.03%) than the support at ₹696.15 (6.27%), 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 is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.606 Sell Candidate Unchanged
Predicted Opening Price for Globus Spirits Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹749.88 ( 0.97%) | ₹742.70 |
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 | 776.83 | 4.60 % | |
| R2 | 766.54 | 3.21 % | ||
| R1 | 760.18 | 2.35 % | ||
| Current price: | 742.70 | |||
| Support | S1 | 739.59 | -0.419 % | |
| S2 | 733.23 | -1.28 % | ||
| S3 | 722.93 | -2.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 805.95 | 8.52 % | |
| R2 | 766.00 | 3.14 % | ||
| R1 | 750.35 | 1.03 % | ||
| Current price | 742.70 | |||
| Support | S1 | 696.15 | -6.27% | |
| S2 | 673.85 | -9.27% | ||
| S3 | 665.50 | -10.39% |
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% |
FAQ
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