Hindustan Construction Company Limited Stock Forecast
Evaluation of Hindustan Construction Company Limited stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Hindustan Construction Company Limited stock price fell by -3.41% on the last day (Friday, 3rd May 2024) from ₹37.57 to ₹36.29. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.13% from a day low at ₹35.75 to a day high of ₹37.94. The price has fallen in 7 of the last 10 days but is still up by 2.69% over the past 2 weeks. Volume has increased on the last day by 1 million 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, 2 million shares were bought and sold for approximately ₹65.77 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹36.90 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.35% during the next 3 months and, with a 90% probability hold a price between ₹21.97 and ₹29.76 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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HCC.BO Signals & Forecast
The Hindustan Construction Company Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹37.70. On a fall, the stock will find some support from the long-term average at approximately ₹35.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, April 05, 2024, and so far it has fallen -7.85%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hindustan Construction Company Limited stock
Hindustan Construction Company Limited finds support from accumulated volume at ₹35.56 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 ₹2.19 between high and low, or 6.13%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HCC.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Hindustan Construction Company Limited to open at ₹36.66, and during the day (based on 14 day Average True Range), to move between ₹34.40 and ₹38.18, which gives a possible trading interval of +/-₹1.89 (+/-5.21%) up or down from last closing price. If Hindustan Construction Company Limited takes out the full calculated possible swing range there will be an estimated 10.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹35.56 (2.01%) than the resistance at ₹41.02 (13.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hindustan Construction Company Limited stock A Buy?
Hindustan Construction Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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: -1.791 Sell Candidate Downgraded
Predicted Opening Price for Hindustan Construction Company Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹36.66 ( 1.02%) | ₹36.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HCC.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.85 | 7.05 % | |
| R2 | 38.01 | 4.75 % | ||
| R1 | 37.50 | 3.32 % | ||
| Current price: | 36.29 | |||
| Support | S1 | 35.82 | -1.29 % | |
| S2 | 35.31 | -2.71 % | ||
| S3 | 34.47 | -5.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 45.33 | 24.91 % | |
| R2 | 43.38 | 19.54 % | ||
| R1 | 41.02 | 13.03 % | ||
| Current price | 36.29 | |||
| Support | S1 | 35.56 | -2.01% | |
| S2 | 35.21 | -2.98% | ||
| S3 | 32.01 | -11.79% |
HCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2011 | May 30, 2011 | May 30, 2011 | ₹0.400 | 1.50% |
| 2 | May 28, 2010 | May 28, 2010 | May 28, 2010 | ₹0.80 | 1.66% |
| 3 | May 27, 2009 | May 27, 2009 | May 27, 2009 | ₹0.80 | 1.71% |
| 4 | May 28, 2008 | May 28, 2008 | May 28, 2008 | ₹0.80 | 1.62% |
| 5 | May 25, 2007 | May 25, 2007 | May 25, 2007 | ₹0.750 | 1.80% |
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