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
Evaluation of Honda Siel Power Products Limited stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Honda Siel Power Products Limited stock price fell by -0.98% on the last day (Thursday, 2nd May 2024) from ₹2,424.85 to ₹2,401.20. During the last trading day the stock fluctuated 2.41% from a day low at ₹2,388.10 to a day high of ₹2,445.70. The price has fallen in 5 of the last 10 days and is down by -0.67% for this period. Volume has increased on the last day by 6 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, 6 thousand shares were bought and sold for approximately ₹14.98 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.79% during the next 3 months and, with a 90% probability hold a price between ₹2,338.54 and ₹2,744.19 at the end of this 3-month period.
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HONDAPOWER.NS Signals & Forecast
The Honda Siel Power Products Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹2,447.50. On a fall, the stock will find some support from the long-term average at approximately ₹2,355.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, April 12, 2024, and so far it has fallen -4.78%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -22.79% to ₹1,853.96 within 31 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for Honda Siel Power Products Limited stock
Honda Siel Power Products Limited finds support from accumulated volume at ₹2,332.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹57.60 (2.41%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.
Our recommended stop-loss: ₹2,306.86 (-3.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (HONDAPOWER.NS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Honda Siel Power Products Limited to open at ₹2,411.67, and during the day (based on 14 day Average True Range), to move between ₹2,341.22 and ₹2,461.18, which gives a possible trading interval of +/-₹59.98 (+/-2.50%) 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 5.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹2,332.70 (2.85%) than the resistance at ₹2,475.60 (3.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Honda Siel Power Products Limited will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Honda Siel Power Products Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.16% in the first trading day after earnings release.
Is Honda Siel Power Products Limited stock A Buy?
Honda Siel Power Products Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Honda Siel Power Products Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹2,411.67 ( 0.436%) | ₹2,401.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HONDAPOWER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,469.27 | 2.83 % | |
| R2 | 2,447.26 | 1.92 % | ||
| R1 | 2,433.67 | 1.35 % | ||
| Current price: | 2,401.20 | |||
| Support | S1 | 2,389.66 | -0.480 % | |
| S2 | 2,376.07 | -1.05 % | ||
| S3 | 2,354.07 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,529.35 | 5.34 % | |
| R2 | 2,514.40 | 4.71 % | ||
| R1 | 2,475.60 | 3.10 % | ||
| Current price | 2,401.20 | |||
| Support | S1 | 2,332.70 | -2.85% | |
| S2 | 2,300.65 | -4.19% | ||
| S3 | 2,229.20 | -7.16% |
HONDAPOWER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹16.50 | 0.743% |
| 2 | Sep 16, 2022 | Sep 16, 2022 | Sep 16, 2022 | ₹15.00 | 1.03% |
| 3 | Sep 14, 2021 | Sep 14, 2021 | Sep 14, 2021 | ₹10.00 | 0.82% |
| 4 | Sep 13, 2021 | Sep 13, 2021 | Sep 13, 2021 | ₹10.00 | 0.83% |
| 5 | Sep 11, 2020 | Sep 11, 2020 | Sep 11, 2020 | ₹12.50 | 1.25% |
FAQ
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