Hexa Tradex Limited Stock Forecast
Weaker technical forecast for Hexa Tradex Limited as stock downgraded to Sell Candidate.
(Updated on May 03, 2024)
The Hexa Tradex Limited stock price fell by -1.95% on the last day (Friday, 3rd May 2024) from ₹151.00 to ₹148.05. During the last trading day the stock fluctuated 5.72% from a day low at ₹145.10 to a day high of ₹153.40. The price has fallen in 5 of the last 10 days but is still up by 0.14% over the past 2 weeks. Volume has increased on the last day by 19 thousand 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, 24 thousand shares were bought and sold for approximately ₹3.57 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.16% during the next 3 months and, with a 90% probability hold a price between ₹135.27 and ₹146.52 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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HEXATRADEX.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 0.441%. 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). 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 sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹150.74 and ₹150.71. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. 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.
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.
Support, Risk & Stop-loss for Hexa Tradex Limited stock
Hexa Tradex Limited finds support from accumulated volume at ₹147.85 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 ₹8.30 between high and low, or 5.72%. For the last week the stock has had daily average volatility of 2.58%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Hexa Tradex Limited to open at ₹148.85, and during the day (based on 14 day Average True Range), to move between ₹143.94 and ₹152.16, which gives a possible trading interval of +/-₹4.11 (+/-2.78%) up or down from last closing price. If Hexa Tradex Limited takes out the full calculated possible swing range there will be an estimated 5.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹147.85 (0.14%) than the resistance at ₹157.05 (6.08%), 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 is within a 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: -2.830 Sell Candidate Downgraded
Predicted Opening Price for Hexa Tradex Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
₹148.85 ( 0.540%) | ₹148.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HEXATRADEX.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 157.15 | 6.15 % | |
R2 | 153.98 | 4.00 % | ||
R1 | 152.02 | 2.68 % | ||
Current price: | 148.05 | |||
Support | S1 | 145.68 | -1.60 % | |
S2 | 143.72 | -2.92 % | ||
S3 | 140.55 | -5.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 162.35 | 9.66 % | |
R2 | 157.85 | 6.62 % | ||
R1 | 157.05 | 6.08 % | ||
Current price | 148.05 | |||
Support | S1 | 147.85 | -0.135% | |
S2 | 147.70 | -0.236% | ||
S3 | 147.40 | -0.439% |
HEXATRADEX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 09, 2013 | May 09, 2013 | May 09, 2013 | ₹1.20 | 5.00% |
FAQ
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