BENCHMARK AMC ETF GOLD BeES/ETF 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
BENCHMARK AMC ETF GOLD BeES/ETF stock upgraded to Buy Candidate.
(Updated on May 22, 2024)
The BENCHMARK AMC ETF GOLD BeES/ETF stock price gained 0.0798% on the last trading day (Wednesday, 22nd May 2024), rising from ₹62.63 to ₹62.68. During the last trading day the stock fluctuated 0.624% from a day low at ₹62.51 to a day high of ₹62.90. The price has risen in 6 of the last 10 days and is up by 3.6% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately ₹281.50 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 has broken the narrow and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹63.40. A reaction back to this level may hold a second chance to get out before further falls.
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GOLDBEES.NS Signals & Forecast
Mostly positive signals in the chart today. The BENCHMARK AMC ETF GOLD BeES/ETF 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 ₹62.02 and ₹61.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 4.03%. 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 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. The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for BENCHMARK AMC ETF GOLD BeES/ETF stock
BENCHMARK AMC ETF GOLD BeES/ETF finds support from accumulated volume at ₹61.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹0.390 between high and low, or 0.624%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: ₹59.62 (-4.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (GOLDBEES.NS) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect BENCHMARK AMC ETF GOLD BeES/ETF to open at ₹62.70, and during the day (based on 14 day Average True Range), to move between ₹61.61 and ₹63.75, which gives a possible trading interval of +/-₹1.07 (+/-1.71%) up or down from last closing price. If BENCHMARK AMC ETF GOLD BeES/ETF takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹61.23, some ₹1.45 (2.31%) from the current price of ₹62.68, our system finds the risk reward attractive.
Is BENCHMARK AMC ETF GOLD BeES/ETF stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for BENCHMARK AMC ETF GOLD BeES/ETF stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.150 Buy Candidate Upgraded
Predicted Opening Price for BENCHMARK AMC ETF GOLD BeES/ETF of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₹62.70 ( 0.0266%) | ₹62.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOLDBEES.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.09 | 0.649 % | |
| R2 | 62.94 | 0.411 % | ||
| R1 | 62.85 | 0.264 % | ||
| Current price: | 62.68 | |||
| Support | S1 | 62.55 | -0.211 % | |
| S2 | 62.46 | -0.358 % | ||
| S3 | 62.31 | -0.596 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 62.68 | |||
| Support | S1 | 61.23 | -2.31% | |
| S2 | 60.25 | -3.88% | ||
| S3 | 58.32 | -6.96% |
FAQ
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