Godha Cabcon & Insulation Limited Stock Forecast
Green day on Tuesday for Godha Cabcon & Insulation Limited stock after gaining 1.18%
(Updated on Jun 25, 2024)
The Godha Cabcon & Insulation Limited stock price gained 1.18% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹0.85 to ₹0.86. During the last trading day the stock fluctuated 3.53% from a day low at ₹0.85 to a day high of ₹0.88. The price has risen in 5 of the last 10 days and is up by 6.17% 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, 9 million shares were bought and sold for approximately ₹7.51 million.
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 -4.86% during the next 3 months and, with a 90% probability hold a price between ₹0.685 and ₹0.91 at the end of this 3-month period.
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GODHA.NS Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Godha Cabcon & Insulation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹0.86 and ₹0.87. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.27%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Godha Cabcon & Insulation Limited stock
Godha Cabcon & Insulation Limited finds support from accumulated volume at ₹0.85 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 ₹0.0300 between high and low, or 3.53%. For the last week, the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GODHA.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Godha Cabcon & Insulation Limited to open at ₹0.86, and during the day (based on 14 day Average True Range), to move between ₹0.81 and ₹0.91, which gives a possible trading interval of +/-₹0.0496 (+/-5.77%) up or down from last closing price. If Godha Cabcon & Insulation Limited takes out the full calculated possible swing range there will be an estimated 11.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹0.85 (1.16%) than the resistance at ₹0.88 (2.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Godha Cabcon & Insulation Limited stock A Buy?
Godha Cabcon & Insulation Limited holds several negative signals and is within a very 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: -2.956 Sell Candidate Unchanged
Predicted Opening Price for Godha Cabcon & Insulation Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹0.86 ( 0.388%) | ₹0.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GODHA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.89 | 3.88% |
| R2 | 0.88 | 2.54% |
| R1 | 0.87 | 1.72% |
| Price | 0.86 | |
| S1 | 0.85 | -0.94% |
| S2 | 0.84 | -1.77% |
| S3 | 0.83 | -3.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.95 | 10.47% |
| R2 | 0.90 | 4.65% |
| R1 | 0.88 | 2.33% |
| Price | 0.86 | |
| S1 | 0.85 | -1.16% |
| S2 | 0.83 | -3.49% |
| S3 | 0.750 | -12.79% |
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