Golden Tobacco Limited Stock Forecast
Red day on Monday for Golden Tobacco Limited
(Updated on May 06, 2024)
The Golden Tobacco Limited stock price fell by -4.99% on the last day (Monday, 6th May 2024) from ₹43.05 to ₹40.90. During the last trading day the stock fluctuated 5.26% from a day low at ₹40.90 to a day high of ₹43.05. The price has been going up and down for this period, and there has been a -9.71% loss for the last 2 weeks. Volume has increased on the last day by 3 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, 3 thousand shares were bought and sold for approximately ₹128.26 thousand.
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 -25.89% during the next 3 months and, with a 90% probability hold a price between ₹22.92 and ₹33.99 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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GOLDENTOBC.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Golden Tobacco 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 ₹43.06 and ₹44.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -18.20%. 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). Golden Tobacco Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Golden Tobacco Limited stock
Golden Tobacco Limited finds support from accumulated volume at ₹40.50 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 ₹2.15 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: ₹38.93 (-4.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (GOLDENTOBC.NS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Golden Tobacco Limited to open at ₹41.62, and during the day (based on 14 day Average True Range), to move between ₹39.80 and ₹42.00, which gives a possible trading interval of +/-₹1.10 (+/-2.70%) up or down from last closing price. If Golden Tobacco Limited takes out the full calculated possible swing range there will be an estimated 5.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹40.50 (0.98%) than the resistance at ₹45.00 (10.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Golden Tobacco Limited stock A Buy?
Golden Tobacco Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Golden Tobacco Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹41.62 ( 1.75%) | ₹40.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOLDENTOBC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 43.77 | 7.01 % | |
| R2 | 42.95 | 5.00 % | ||
| R1 | 42.44 | 3.76 % | ||
| Current price: | 40.90 | |||
| Support | S1 | 40.80 | -0.256 % | |
| S2 | 40.29 | -1.50 % | ||
| S3 | 39.47 | -3.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 49.55 | 21.15 % | |
| R2 | 45.30 | 10.76 % | ||
| R1 | 45.00 | 10.02 % | ||
| Current price | 40.90 | |||
| Support | S1 | 40.50 | -0.98% | |
| S2 | 39.25 | -4.03% | ||
| S3 | 37.55 | -8.19% |
GOLDENTOBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 24, 1995 | Jan 01, 1996 | Jan 01, 1996 | ₹4.50 | 0% |
| 2 | Dec 14, 1994 | Dec 14, 1994 | Feb 01, 1995 | ₹1.25 | 0% |
FAQ
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