Hindustan Aeronautics Limited Stock Forecast

Green day on Friday for Hindustan Aeronautics Limited
(Updated on May 31, 2024)

HAL.BO Signals & Forecast

The Hindustan Aeronautics Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹5,039.64. On a fall, the stock will find some support from the long-term average at approximately ₹4,179.65. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 24, 2024, and so far it has fallen -3.55%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Hindustan Aeronautics Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹4,603.40 and ₹4,531.40. 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, Hindustan Aeronautics Limited finds support just below today's level at ₹4,603.40. If this is broken, then the next support from accumulated volume will be at ₹4,531.40 and ₹3,951.10.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹177.35 between high and low, or 3.65%. For the last week, the stock has had daily average volatility of 3.93%.

Our recommended stop-loss: ₹4,748.20 (-4.61%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 45 days ago.)

Trading Expectations (HAL.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Hindustan Aeronautics Limited to open at ₹4,960.07, and during the day (based on 14 day Average True Range), to move between ₹4,789.43 and ₹5,166.27, which gives a possible trading interval of +/-₹188.42 (+/-3.79%) up or down from last closing price. If Hindustan Aeronautics Limited takes out the full calculated possible swing range there will be an estimated 7.57% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹5,018.60 (0.82%) than the support at ₹4,603.40 (7.52%), 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 Hindustan Aeronautics Limited stock A Buy?

Hindustan Aeronautics Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.360 Hold/Accumulate Unchanged

Predicted Opening Price for Hindustan Aeronautics Limited of Monday, June 3, 2024

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