Hardcastle and Waud Manufacturing Co Ltd Stock Forecast

Hardcastle and Waud Manufacturing Co Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)

HARDCAS.BO Signals & Forecast

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. 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 ₹746.40 and ₹731.49. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Hardcastle and Waud Manufacturing Co Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, May 27, 2024, and so far it has fallen -0.93%. Further fall is indicated until a new bottom pivot has been found.

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

Hardcastle and Waud Manufacturing Co Ltd finds support from accumulated volume at ₹755.20 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 ₹53.25 between high and low, or 7.08%. For the last week, the stock has had daily average volatility of 5.14%.

Our recommended stop-loss: ₹745.04 (-4.32%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 65 days ago.)

Trading Expectations (HARDCAS.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Hardcastle and Waud Manufacturing Company Limited to open at ₹778.47, and during the day (based on 14 day Average True Range), to move between ₹732.91 and ₹824.39, which gives a possible trading interval of +/-₹45.74 (+/-5.87%) 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 11.75% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹779.70 (0.13%) than the support at ₹755.20 (3.01%), 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 Hardcastle and Waud Manufacturing Company Limited stock A Buy?

Hardcastle and Waud Manufacturing Co Ltd 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: 6.055 Strong Buy Candidate Upgraded

Predicted Opening Price for Hardcastle and Waud Manufacturing Company Limited of Monday, June 24, 2024

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