Hexa Tradex Limited Stock Forecast

Evaluation of Hexa Tradex Limited stock downgraded after the last trading session.
(Updated on Apr 25, 2024)

HEXATRADEX.NS Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hexa Tradex Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹151.62. On a fall, the stock will find some support from the short-term average at ₹150.46. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Tuesday, October 17, 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.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Tuesday, October 17, 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, March 27, 2024 with a target of ₹149.67. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Hexa Tradex Limited stock

Hexa Tradex Limited finds support from accumulated volume at ₹148.20 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹4.05 between high and low, or 2.70%. For the last week the stock has had daily average volatility of 2.83%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HEXATRADEX.NS) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Hexa Tradex Limited to open at ₹151.80, and during the day (based on 14 day Average True Range), to move between ₹146.97 and ₹155.53, which gives a possible trading interval of +/-₹4.28 (+/-2.83%) up or down from last closing price. If Hexa Tradex Limited takes out the full calculated possible swing range there will be an estimated 5.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹148.20 (2.02%) than the resistance at ₹157.05 (3.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Hexa Tradex Limited stock A Buy?

Hexa Tradex Limited holds several negative signals and we believe that 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: -3.190 Sell Candidate Downgraded

Predicted Opening Price for Hexa Tradex Limited of Friday, April 26, 2024

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