G.M.Breweries Limited Stock Forecast
Big movements in G.M.Breweries Limited stock price on Tuesday moving 18.64% between high and low
(Updated on Jul 02, 2024)
The G.M.Breweries Limited stock price gained 19.99% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹663.70 to ₹796.40. During the last trading day the stock fluctuated 18.64% from a day low at ₹671.25 to a day high of ₹796.40. The price has risen in 6 of the last 10 days and is up by 26.59% 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, 3 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₹2.69 billion.
Given the current short-term trend, the stock is expected to fall -17.21% during the next 3 months and, with a 90% probability hold a price between ₹448.24 and ₹659.34 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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GMBREW.NS Signals & Forecast
The G.M.Breweries Limited 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 ₹672.75 and ₹672.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 34.49%. 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 G.M.Breweries Limited stock
G.M.Breweries Limited finds support from accumulated volume at ₹782.05 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 ₹125.15 between high and low, or 18.64%. For the last week, the stock has had daily average volatility of 7.04%.
The G.M.Breweries Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹769.48 (-3.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (GMBREW.NS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect G.M.Breweries Limited to open at ₹754.68, and during the day (based on 14 day Average True Range), to move between ₹765.61 and ₹827.19, which gives a possible trading interval of +/-₹30.79 (+/-3.87%) up or down from last closing price. If G.M.Breweries Limited takes out the full calculated possible swing range there will be an estimated 7.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹801.95 (0.70%) than the support at ₹782.05 (1.80%), 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.
Earnings coming up
G.M.Breweries Limited will release earnings BMO on Tuesday, July 09, 2024. We will update the financials statements for G.M.Breweries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.46% in the first trading day after earnings release.
Is G.M.Breweries Limited stock A Buy?
G.M.Breweries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for G.M.Breweries Limited of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
₹754.68 ( 5.24%) | ₹796.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GMBREW.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 879.83 | 10.48% |
R2 | 832.03 | 4.47% |
R1 | 802.49 | 0.765% |
Price | 796.40 | |
S1 | 706.88 | -11.24% |
S2 | 677.34 | -14.95% |
S3 | 629.53 | -20.95% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 801.95 | 0.697% |
Price | 796.40 | |
S1 | 782.05 | -1.80% |
S2 | 781.95 | -1.81% |
S3 | 743.40 | -6.65% |
GMBREW Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 09, 2024 | May 09, 2024 | Jun 01, 2024 | ₹7.00 | 1.13% |
2 | May 16, 2023 | May 16, 2023 | May 16, 2023 | ₹6.00 | 1.32% |
3 | May 13, 2022 | May 13, 2022 | May 13, 2022 | ₹5.00 | 1.13% |
4 | Jun 28, 2021 | Jun 28, 2021 | Jun 28, 2021 | ₹4.00 | 0.86% |
5 | Jun 23, 2020 | Jul 29, 2020 | Aug 12, 2020 | ₹3.00 | 0.98% |
FAQ
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