Goodyear India Limited Stock Forecast
Stronger technical forecast for Goodyear India Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Goodyear India Limited stock price gained 2.34% on the last trading day (Friday, 17th May 2024), rising from ₹1,155.35 to ₹1,182.40. During the last trading day the stock fluctuated 1.57% from a day low at ₹1,166.60 to a day high of ₹1,184.95. The price has fallen in 6 of the last 10 days but is still up by 0.61% 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, 599 more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately ₹11.29 million.
Given the current short-term trend, the stock is expected to fall -10.54% during the next 3 months and, with a 90% probability hold a price between ₹918.15 and ₹1,057.77 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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GOODYEAR.BO Signals & Forecast
The Goodyear India 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 ₹1,156.84 and ₹1,158.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 7.29%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Tuesday, April 30, 2024 in the short-term chart.
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 Tuesday, April 30, 2024 in the short-term chart.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 Goodyear India Limited stock
Goodyear India Limited finds support from accumulated volume at ₹1,133.35 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 ₹18.35 between high and low, or 1.57%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: ₹1,131.83 (-4.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (GOODYEAR.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Goodyear India Limited to open at ₹1,177.98, and during the day (based on 14 day Average True Range), to move between ₹1,155.91 and ₹1,208.89, which gives a possible trading interval of +/-₹26.49 (+/-2.24%) up or down from last closing price. If Goodyear India Limited takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,209.45 (2.29%) than the support at ₹1,133.35 (4.15%), 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 Goodyear India Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.388 Buy Candidate Upgraded
Predicted Opening Price for Goodyear India Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹1,177.98 ( 0.374%) | ₹1,182.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOODYEAR.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,196.33 | 1.18 % | |
R2 | 1,189.32 | 0.586 % | ||
R1 | 1,184.99 | 0.219 % | ||
Current price: | 1,182.40 | |||
Support | S1 | 1,170.97 | -0.97 % | |
S2 | 1,166.64 | -1.33 % | ||
S3 | 1,159.63 | -1.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,306.50 | 10.50 % | |
R2 | 1,257.50 | 6.35 % | ||
R1 | 1,209.45 | 2.29 % | ||
Current price | 1,182.40 | |||
Support | S1 | 1,133.35 | -4.15% | |
S2 | 1,113.75 | -5.81% | ||
S3 | 1,102.10 | -6.79% |
GOODYEAR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 12, 2024 | Feb 12, 2024 | Mar 03, 2024 | ₹26.00 | 2.02% |
2 | Jul 26, 2023 | Jul 26, 2023 | Sep 01, 2023 | ₹26.50 | 1.95% |
3 | Jul 22, 2022 | Jul 22, 2022 | Aug 31, 2022 | ₹100.00 | 9.73% |
4 | Aug 01, 2017 | Aug 01, 2017 | Sep 08, 2017 | ₹12.50 | 1.51% |
5 | Aug 23, 2016 | Aug 23, 2016 | Aug 23, 2016 | ₹12.00 | 2.23% |
FAQ
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