Hardcastle and Waud Manufacturing Co Ltd 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
Hardcastle and Waud Manufacturing Co Ltd stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Hardcastle and Waud Manufacturing Co Ltd stock price gained 4.26% on the last trading day (Friday, 21st Jun 2024), rising from ₹746.80 to ₹778.65. During the last trading day the stock fluctuated 7.08% from a day low at ₹751.75 to a day high of ₹805.00. The price has risen in 7 of the last 10 days and is up by 8.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 319 more shares were traded than the day before. In total, 547 shares were bought and sold for approximately ₹425.92 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.57% during the next 3 months and, with a 90% probability hold a price between ₹756.51 and ₹906.53 at the end of this 3-month period.
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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
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹778.47 ( 0.0235%) | ₹778.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HARDCAS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 831.72 | 6.82% |
| R2 | 811.38 | 4.20% |
| R1 | 798.81 | 2.59% |
| Price | 778.65 | |
| S1 | 758.13 | -2.64% |
| S2 | 745.56 | -4.25% |
| S3 | 725.22 | -6.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 785.95 | 0.94% |
| R1 | 779.70 | 0.135% |
| Price | 778.65 | |
| S1 | 755.20 | -3.01% |
| S2 | 744.95 | -4.33% |
| S3 | 680.30 | -12.63% |
FAQ
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