Gokul Refoils & Solvent Ltd Stock Forecast
Gokul Refoils & Solvent Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Gokul Refoils & Solvent Ltd stock price fell by -1.98% on the last day (Friday, 28th Jun 2024) from ₹40.39 to ₹39.59. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.02% from a day low at ₹39.59 to a day high of ₹40.39. The price has fallen in 6 of the last 10 days and is down by -2.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -38 thousand shares and in total, 11 thousand shares were bought and sold for approximately ₹421.91 thousand.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹38.30 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Gokul Refoils & Solvent Ltd stock with a 90% probability to be traded between ₹38.47 and ₹47.34 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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GOKUL.BO Signals & Forecast
There are mixed signals in the stock today. The Gokul Refoils & Solvent Ltd 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 ₹41.05 and ₹41.54. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 3.50%. 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).
Support, Risk & Stop-loss for Gokul Refoils & Solvent Ltd stock
Gokul Refoils & Solvent Ltd finds support from accumulated volume at ₹39.03 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.800 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: ₹37.40 (-5.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (GOKUL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Gokul Refoils & Solvent Ltd to open at ₹39.86, and during the day (based on 14 day Average True Range), to move between ₹38.50 and ₹40.68, which gives a possible trading interval of +/-₹1.09 (+/-2.76%) up or down from last closing price. If Gokul Refoils & Solvent Ltd takes out the full calculated possible swing range there will be an estimated 5.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹39.82 (0.58%) than the support at ₹39.03 (1.41%), 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 Gokul Refoils & Solvent Ltd stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Gokul Refoils & Solvent Ltd stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.677 Buy Candidate Upgraded
Predicted Opening Price for Gokul Refoils & Solvent Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹39.86 ( 0.674%) | ₹39.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOKUL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.66 | 2.69% |
| R2 | 40.35 | 1.92% |
| R1 | 40.16 | 1.45% |
| Price | 39.59 | |
| S1 | 39.55 | -0.0983% |
| S2 | 39.36 | -0.575% |
| S3 | 39.06 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 45.86 | 15.84% |
| R2 | 40.63 | 2.63% |
| R1 | 39.82 | 0.581% |
| Price | 39.59 | |
| S1 | 39.03 | -1.41% |
| S2 | 38.49 | -2.78% |
| S3 | 38.25 | -3.38% |
GOKUL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 16, 2011 | Sep 16, 2011 | Sep 16, 2011 | ₹0.220 | 0% |
| 2 | Aug 25, 2010 | Aug 25, 2010 | Aug 25, 2010 | ₹0.100 | 0% |
| 3 | Jul 20, 2010 | Jul 20, 2010 | Jul 20, 2010 | ₹0.300 | 0% |
| 4 | Sep 04, 2009 | Sep 04, 2009 | Sep 04, 2009 | ₹1.50 | 0% |
FAQ
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