HealthCare Global Enterprises Limited Stock Forecast

HealthCare Global Enterprises Limited stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 15, 2024)

HCG.BO Signals & Forecast

The HealthCare Global Enterprises 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 ₹360.52 and ₹358.21. A breakdown below any of these levels will issue sell signals. HealthCare Global Enterprises 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. 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 Tuesday, April 09, 2024, and so far it has fallen -3.33%. 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).

Support, Risk & Stop-loss for HealthCare Global Enterprises Limited stock

HealthCare Global Enterprises Limited finds support from accumulated volume at ₹348.45 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹10.75 between high and low, or 3.04%. For the last week the stock has had daily average volatility of 2.55%.

Our recommended stop-loss: ₹346.77 (-4.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (HCG.BO) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect HealthCare Global Enterprises Limited to open at ₹360.05, and during the day (based on 14 day Average True Range), to move between ₹349.81 and ₹373.79, which gives a possible trading interval of +/-₹11.99 (+/-3.32%) up or down from last closing price. If HealthCare Global Enterprises Limited takes out the full calculated possible swing range there will be an estimated 6.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹369.50 (2.13%) than the support at ₹348.45 (3.69%), 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 HealthCare Global Enterprises Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HealthCare Global Enterprises Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.814 Buy Candidate Upgraded

Predicted Opening Price for HealthCare Global Enterprises Limited of Thursday, May 16, 2024

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