Gowra Leasing and Finance Limited Stock Forecast

Big movements in Gowra Leasing and Finance Limited stock price on Wednesday moving 14.67% between high and low
(Updated on Jun 26, 2024)

GOWRALE.BO Signals & Forecast

Mostly positive signals in the chart today. The Gowra Leasing and Finance Limited 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 ₹40.77 and ₹39.68. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 6.31%. 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). Gowra Leasing and Finance Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, May 28, 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 Gowra Leasing and Finance Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹39.78 and ₹38.90. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Gowra Leasing and Finance Limited finds support just below today's level at ₹39.78. If this is broken, then the next support from accumulated volume will be at ₹38.90 and ₹38.82.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹6.16 (14.67%) between high and low. For the last week, the stock has had daily average volatility of 6.86%.

Our recommended stop-loss: ₹40.24 (-4.41%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (GOWRALE.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Gowra Leasing and Finance Limited to open at ₹44.09, and during the day (based on 14 day Average True Range), to move between ₹39.42 and ₹44.78, which gives a possible trading interval of +/-₹2.68 (+/-6.36%) up or down from last closing price. If Gowra Leasing and Finance Limited takes out the full calculated possible swing range there will be an estimated 12.73% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹39.78, some ₹2.32 (5.51%) from the current price of ₹42.10, our system finds the risk reward attractive.

Is Gowra Leasing and Finance Limited 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 Gowra Leasing and Finance Limited 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: 3.705 Buy Candidate Upgraded

Predicted Opening Price for Gowra Leasing and Finance Limited of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.