Harrisons Malayalam Limited 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
Harrisons Malayalam Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 31, 2024)
The Harrisons Malayalam Limited stock price fell by -1.95% on the last day (Friday, 31st May 2024) from ₹171.45 to ₹168.10. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.04% from a day low at ₹167.00 to a day high of ₹173.75. The price has fallen in 7 of the last 10 days and is down by -13.19% for this period. Volume has increased on the last day by 771 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately ₹478.41 thousand.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₹168.76. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HARRMALAYA.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Harrisons Malayalam Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹176.60 and ₹176.64. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -13.19%. 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). Harrisons Malayalam Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Thursday, June 08, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, June 08, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Harrisons Malayalam Limited stock
Harrisons Malayalam Limited finds support from accumulated volume at ₹164.60 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 ₹6.75 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HARRMALAYA.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Harrisons Malayalam Limited to open at ₹169.62, and during the day (based on 14 day Average True Range), to move between ₹160.60 and ₹175.60, which gives a possible trading interval of +/-₹7.50 (+/-4.46%) up or down from last closing price. If Harrisons Malayalam Limited takes out the full calculated possible swing range there will be an estimated 8.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹164.60 (2.08%) than the resistance at ₹174.00 (3.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Harrisons Malayalam Limited stock A Buy?
The Harrisons Malayalam Limited stock holds several negative signals and despite the positive trend, we believe Harrisons Malayalam Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.287 Sell Candidate Downgraded
Predicted Opening Price for Harrisons Malayalam Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹169.62 ( 0.90%) | ₹168.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HARRMALAYA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 176.37 | 4.92 % | |
| R2 | 173.79 | 3.38 % | ||
| R1 | 172.20 | 2.44 % | ||
| Current price: | 168.10 | |||
| Support | S1 | 167.04 | -0.632 % | |
| S2 | 165.45 | -1.58 % | ||
| S3 | 162.87 | -3.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 191.75 | 14.07 % | |
| R2 | 188.30 | 12.02 % | ||
| R1 | 174.00 | 3.51 % | ||
| Current price | 168.10 | |||
| Support | S1 | 164.60 | -2.08% | |
| S2 | 162.05 | -3.60% | ||
| S3 | 156.70 | -6.78% |
HARRMALAYA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 21, 2014 | Aug 21, 2014 | Aug 21, 2014 | ₹1.00 | 1.58% |
| 2 | Sep 12, 2013 | Sep 12, 2013 | Sep 12, 2013 | ₹0.750 | 1.77% |
| 3 | Sep 13, 2012 | Sep 13, 2012 | Sep 13, 2012 | ₹1.50 | 2.42% |
| 4 | Aug 30, 2011 | Aug 30, 2011 | Aug 30, 2011 | ₹1.50 | 2.42% |
| 5 | Sep 29, 2010 | Sep 29, 2010 | Sep 29, 2010 | ₹2.00 | 2.21% |
FAQ
Click here for our free guide on how to buy Harrisons Malayalam Limited Stock.
