Honda Siel Power Products Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Honda Siel Power Products Limited stock after losing 1.39%
(Updated on Jun 26, 2024)
The Honda Siel Power Products Limited stock price fell by -1.39% on the last day (Wednesday, 26th Jun 2024) from ₹3,808.15 to ₹3,755.25. During the last trading day the stock fluctuated 3.84% from a day low at ₹3,741.70 to a day high of ₹3,885.40. The price has risen in 7 of the last 10 days and is up by 38.57% over the past 2 weeks. Volume has increased on the last day by 116 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, 886 shares were bought and sold for approximately ₹3.33 million.
The stock lies in the upper part of a very wide and strong rising 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 ₹3,920.43 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 40.35% during the next 3 months and, with a 90% probability hold a price between ₹3,859.27 and ₹5,502.41 at the end of this 3-month period.
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HONDAPOWER.BO Signals & Forecast
The Honda Siel Power Products 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 ₹3,739.54 and ₹2,839.77. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.28%. Further fall is indicated until a new bottom pivot has been found. 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 Honda Siel Power Products Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹3,543.25 and ₹3,352.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Honda Siel Power Products Limited finds support just below today's level at ₹3,543.25. If this is broken, then the next support from accumulated volume will be at ₹3,352.20 and ₹3,124.45.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹143.70 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 6.54%.
The Honda Siel Power Products Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹3,663.34 (-2.45%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 89 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (HONDAPOWER.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Honda Siel Power Products Limited to open at ₹3,794.12, and during the day (based on 14 day Average True Range), to move between ₹3,569.04 and ₹3,941.46, which gives a possible trading interval of +/-₹186.21 (+/-4.96%) up or down from last closing price. If Honda Siel Power Products Limited takes out the full calculated possible swing range there will be an estimated 9.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,808.15 (1.41%) than the support at ₹3,543.25 (5.65%), 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 Honda Siel Power Products 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 Honda Siel Power Products Limited stock to perform well in the short-term.
Current score: 2.554 Buy Candidate Unchanged
Predicted Opening Price for Honda Siel Power Products Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹3,794.12 ( 1.03%) | ₹3,755.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HONDAPOWER.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,937.82 | 4.86% |
| R2 | 3,882.92 | 3.40% |
| R1 | 3,849.01 | 2.50% |
| Price | 3,755.25 | |
| S1 | 3,739.22 | -0.427% |
| S2 | 3,705.31 | -1.33% |
| S3 | 3,650.42 | -2.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,842.70 | 2.33% |
| R2 | 3,819.30 | 1.71% |
| R1 | 3,808.15 | 1.41% |
| Price | 3,755.25 | |
| S1 | 3,543.25 | -5.65% |
| S2 | 3,352.20 | -10.73% |
| S3 | 3,124.45 | -16.80% |
HONDAPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Sep 05, 2023 | ₹16.50 | 0.595% |
| 2 | Jul 27, 2017 | Jul 27, 2017 | Sep 01, 2017 | ₹7.50 | 0.523% |
| 3 | Aug 03, 2016 | Aug 03, 2016 | Aug 03, 2016 | ₹6.00 | 0.496% |
| 4 | Aug 04, 2015 | Aug 04, 2015 | Aug 04, 2015 | ₹6.00 | 0.410% |
| 5 | Jul 24, 2014 | Jul 24, 2014 | Jul 24, 2014 | ₹4.00 | 0.392% |
FAQ
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