Hardcastle and Waud Manufacturing Co Ltd Stock Forecast

Hardcastle and Waud Manufacturing Co Ltd stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)

HARDCAS.BO Signals & Forecast

A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -4.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Hardcastle and Waud Manufacturing Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹726.85 and ₹728.27. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Hardcastle and Waud Manufacturing Co Ltd stock

Hardcastle and Waud Manufacturing Co Ltd finds support from accumulated volume at ₹744.95 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹41.80 between high and low, or 5.82%. For the last week the stock has had daily average volatility of 5.94%.

Our recommended stop-loss: ₹706.28 (-5.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 61 days ago.)

Trading Expectations (HARDCAS.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Hardcastle and Waud Manufacturing Company Limited to open at ₹742.23, and during the day (based on 14 day Average True Range), to move between ₹700.52 and ₹796.48, which gives a possible trading interval of +/-₹47.98 (+/-6.41%) up or down from last closing price. If Hardcastle and Waud Manufacturing Company Limited takes out the full calculated possible swing range there will be an estimated 12.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹744.95 (0.47%) than the resistance at ₹755.20 (0.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hardcastle and Waud Manufacturing Company Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.615 Buy Candidate Upgraded

Predicted Opening Price for Hardcastle and Waud Manufacturing Company Limited of Tuesday, June 18, 2024

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