Gravity Stock Forecast
A very red day for Gravity stock price after a -6.24% fall in the Friday trading session
(Updated on May 17, 2024)
The Gravity stock price fell by -6.24% on the last day (Friday, 17th May 2024) from ₹4.65 to ₹4.36. During the last trading day the stock fluctuated 6.67% from a day low at ₹4.35 to a day high of ₹4.64. The price has fallen in 6 of the last 10 days but is still up by 2.35% over the past 2 weeks. Volume has increased on the last day by 12 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, 18 thousand shares were bought and sold for approximately ₹77.46 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 -9.42% during the next 3 months and, with a 90% probability hold a price between ₹3.25 and ₹4.27 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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GRAVITY.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gravity stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹4.44 and ₹4.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -7.82%. Further fall is indicated until a new bottom pivot has been found. Gravity 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". The very low volume increases the risk and reduces the other technical signals issued.
A sell signal from a double top formation was found on Wednesday, May 15, 2024 and based on theory for this formation the price should fall by -11.58% to ₹3.86 within 25 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Gravity stock
Gravity finds support from accumulated volume at ₹4.27 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 ₹0.290 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 6.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GRAVITY.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Gravity to open at ₹4.45, and during the day (based on 14 day Average True Range), to move between ₹4.05 and ₹4.67, which gives a possible trading interval of +/-₹0.306 (+/-7.02%) up or down from last closing price. If Gravity takes out the full calculated possible swing range there will be an estimated 14.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹4.27 (2.06%) than the resistance at ₹4.61 (5.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gravity stock A Buy?
Gravity holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.150 Sell Candidate Downgraded
Predicted Opening Price for Gravity of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹4.45 ( 2.06%) | ₹4.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRAVITY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.74 | 8.72 % | |
| R2 | 4.63 | 6.17 % | ||
| R1 | 4.56 | 4.61 % | ||
| Current price: | 4.36 | |||
| Support | S1 | 4.34 | -0.477 % | |
| S2 | 4.27 | -2.05 % | ||
| S3 | 4.16 | -4.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.93 | 13.07 % | |
| R2 | 4.85 | 11.24 % | ||
| R1 | 4.61 | 5.73 % | ||
| Current price | 4.36 | |||
| Support | S1 | 4.27 | -2.06% | |
| S2 | 4.26 | -2.29% | ||
| S3 | 3.94 | -9.63% |
GRAVITY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 21, 2005 | Sep 21, 2005 | Sep 21, 2005 | ₹0.100 | 0.775% |
| 2 | Sep 21, 2004 | Sep 21, 2004 | Sep 21, 2004 | ₹0.100 | 0.85% |
| 3 | Sep 19, 2003 | Sep 19, 2003 | Sep 19, 2003 | ₹0.100 | 1.67% |
| 4 | Sep 19, 2002 | Sep 19, 2002 | Sep 19, 2002 | ₹0.100 | 1.14% |
FAQ
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