Garden Reach Shipbuilders & En Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
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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