Hittco Tools Limited Stock Forecast

Hittco Tools Limited stock price ended at ₹12.44 on Friday, after gaining 2.81%.
(Updated on Jun 14, 2024)

HITTCO.BO Signals & Forecast

The Hittco Tools 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 ₹12.01 and ₹11.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 29.05%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Friday, December 01, 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 Hittco Tools Limited stock

Hittco Tools Limited finds support from accumulated volume at ₹11.99 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 controlled movements and therefore the general risk is considered 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 ₹1.03 between high and low, or 8.83%. For the last week the stock has had daily average volatility of 4.06%.

Our recommended stop-loss: ₹12.04 (-3.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (HITTCO.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Hittco Tools Limited to open at ₹12.26, and during the day (based on 14 day Average True Range), to move between ₹11.64 and ₹13.24, which gives a possible trading interval of +/-₹0.797 (+/-6.41%) up or down from last closing price. If Hittco Tools Limited takes out the full calculated possible swing range there will be an estimated 12.82% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹11.99, some ₹0.450 (3.62%) from the current price of ₹12.44, our system finds the risk reward attractive.

Is Hittco Tools Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hittco Tools Limited stock to perform well in the short-term.

Current score: 3.724 Buy Candidate Unchanged

Predicted Opening Price for Hittco Tools Limited of Tuesday, June 18, 2024

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