HB Leasing and Finance Company Limited Stock Forecast
Green day on Tuesday for HB Leasing and Finance Company Limited stock after gaining 4.59%
(Updated on Jul 02, 2024)
The HB Leasing and Finance Company Limited stock price gained 4.59% on the last trading day (Tuesday, 2nd Jul 2024), rising from ₹27.04 to ₹28.28. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.15% from a day low at ₹27.00 to a day high of ₹28.39. The price has risen in 7 of the last 10 days and is up by 7.94% 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, 13 thousand more shares were traded than the day before. In total, 47 thousand shares were bought and sold for approximately ₹1.32 million.
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 66.09% during the next 3 months and, with a 90% probability hold a price between ₹44.02 and ₹51.88 at the end of this 3-month period.
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HBLEAS.BO Signals & Forecast
Mostly positive signals in the chart today. The HB Leasing and Finance Company Limited 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 ₹26.59 and ₹25.17. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 84.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). HB Leasing and Finance Company Limited 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.
Support, Risk & Stop-loss for HB Leasing and Finance Company Limited stock
HB Leasing and Finance Company Limited finds support from accumulated volume at ₹27.04 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 ₹1.39 between high and low, or 5.15%. For the last week, the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: ₹27.30 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 77 days ago.)
Trading Expectations (HBLEAS.BO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect HB Leasing and Finance Company Limited to open at ₹27.89, and during the day (based on 14 day Average True Range), to move between ₹27.57 and ₹28.99, which gives a possible trading interval of +/-₹0.714 (+/-2.52%) up or down from last closing price. If HB Leasing and Finance Company Limited takes out the full calculated possible swing range there will be an estimated 5.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹27.04, some ₹1.24 (4.38%) from the current price of ₹28.28, our system finds the risk reward attractive.
Is HB Leasing and Finance Company Limited stock A Buy?
HB Leasing and Finance Company Limited 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.
Current score: 8.625 Strong Buy Candidate Unchanged
Predicted Opening Price for HB Leasing and Finance Company Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₹27.89 ( 1.38%) | ₹28.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HBLEAS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.28 | 3.54% |
| R2 | 28.75 | 1.66% |
| R1 | 28.42 | 0.499% |
| Price | 28.28 | |
| S1 | 27.36 | -3.26% |
| S2 | 27.03 | -4.42% |
| S3 | 26.50 | -6.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 28.28 | |
| S1 | 27.04 | -4.38% |
| S2 | 26.20 | -7.36% |
| S3 | 24.69 | -12.69% |
FAQ
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