Garden Reach Shipbuilders & En Stock Forecast
Garden Reach Shipbuilders & En stock price up more than 9.31% on Friday
(Updated on May 17, 2024)
The Garden Reach Shipbuilders & En stock price gained 9.31% on the last trading day (Friday, 17th May 2024), rising from ₹990.75 to ₹1,082.95. During the last trading day the stock fluctuated 9.88% from a day low at ₹996.00 to a day high of ₹1,094.40. The price has been going up and down for this period, and there has been a 8.33% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 173 thousand more shares were traded than the day before. In total, 225 thousand shares were bought and sold for approximately ₹243.89 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹1,085.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 27.09% during the next 3 months and, with a 90% probability hold a price between ₹1,082.28 and ₹1,379.26 at the end of this 3-month period.
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GRSE.BO Signals & Forecast
The Garden Reach Shipbuilders & En 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 ₹965.74 and ₹913.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 58.06%. 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).
Support, Risk & Stop-loss for Garden Reach Shipbuilders & En stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,024.35 and ₹983.10. 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, Garden Reach Shipbuilders & En finds support just below today's level at ₹1,024.35. If this is broken, then the next support from accumulated volume will be at ₹983.10 and ₹958.30.
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 ₹98.40 between high and low, or 9.88%. For the last week, the stock has had daily average volatility of 5.51%.
Our recommended stop-loss: ₹1,042.23 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 41 days ago.)
Trading Expectations (GRSE.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Garden Reach Shipbuilders & En to open at ₹1,057.78, and during the day (based on 14 day Average True Range), to move between ₹1,032.94 and ₹1,132.96, which gives a possible trading interval of +/-₹50.01 (+/-4.62%) up or down from last closing price. If Garden Reach Shipbuilders & En takes out the full calculated possible swing range there will be an estimated 9.24% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,024.35, some ₹58.60 (5.41%) from the current price of ₹1,082.95, our system finds the risk reward attractive.
Earnings coming up
Garden Reach Shipbuilders & En will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Garden Reach Shipbuilders & En, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.34% in the first trading day after earnings release.
Is Garden Reach Shipbuilders & En stock A Buy?
Garden Reach Shipbuilders & En holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.520 Strong Buy Candidate Upgraded
Predicted Opening Price for Garden Reach Shipbuilders & En of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹1,057.78 ( 2.32%) | ₹1,082.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GRSE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,156.18 | 6.76 % | |
| R2 | 1,118.59 | 3.29 % | ||
| R1 | 1,095.37 | 1.15 % | ||
| Current price: | 1,082.95 | |||
| Support | S1 | 1,020.19 | -5.79 % | |
| S2 | 996.97 | -7.94 % | ||
| S3 | 959.38 | -11.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,082.95 | |||
| Support | S1 | 1,024.35 | -5.41% | |
| S2 | 983.10 | -9.22% | ||
| S3 | 958.30 | -11.51% |
GRSE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 14, 2024 | ₹7.92 | 1.09% |
| 2 | Sep 15, 2023 | Sep 15, 2023 | Oct 22, 2023 | ₹0.700 | 0.0924% |
| 3 | Feb 20, 2023 | Feb 20, 2023 | Mar 12, 2023 | ₹5.50 | 1.29% |
FAQ
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