HOV Services Limited Stock Forecast
Green day on Friday for HOV Services Limited
(Updated on May 17, 2024)
The HOV Services Limited stock price gained 4.99% on the last trading day (Friday, 17th May 2024), rising from ₹60.35 to ₹63.36. During the last trading day the stock fluctuated 3.70% from a day low at ₹61.10 to a day high of ₹63.36. The price has risen in 7 of the last 10 days and is up by 5.6% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹146.11 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect HOV Services Limited stock with a 90% probability to be traded between ₹59.26 and ₹77.88 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HOVS.BO Signals & Forecast
Mostly positive signals in the chart today. The HOV Services Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹60.81 and ₹63.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 7.03%. 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). HOV Services Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for HOV Services Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹58.15 and ₹57.35. 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, HOV Services Limited finds support just below today's level at ₹58.15. If this is broken, then the next support from accumulated volume will be at ₹57.35 and ₹57.31.
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 ₹2.26 (3.70%) between high and low. For the last week, the stock has had daily average volatility of 3.30%.
Our recommended stop-loss: ₹60.88 (-3.91%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (HOVS.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect HOV Services Limited to open at ₹62.61, and during the day (based on 14 day Average True Range), to move between ₹60.62 and ₹66.10, which gives a possible trading interval of +/-₹2.74 (+/-4.33%) up or down from last closing price. If HOV Services Limited takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹64.51 (1.82%) than the support at ₹58.15 (8.22%), 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.
Earnings coming up
HOV Services Limited will release earnings BMO on Saturday, May 25, 2024. We will update the financials statements for HOV Services Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.83% in the first trading day after earnings release.
Is HOV Services Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HOV Services Limited stock to perform well in the short-term period.
Current score: 3.763 Buy Candidate Unchanged
Predicted Opening Price for HOV Services Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹62.61 ( 1.19%) | ₹63.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOVS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 64.87 | 2.38 % | |
| R2 | 64.00 | 1.02 % | ||
| R1 | 63.47 | 0.174 % | ||
| Current price: | 63.36 | |||
| Support | S1 | 61.74 | -2.55 % | |
| S2 | 61.21 | -3.39 % | ||
| S3 | 60.35 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77.78 | 22.76 % | |
| R2 | 74.35 | 17.35 % | ||
| R1 | 64.51 | 1.82 % | ||
| Current price | 63.36 | |||
| Support | S1 | 58.15 | -8.22% | |
| S2 | 57.35 | -9.49% | ||
| S3 | 57.31 | -9.55% |
HOVS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 27, 2011 | Jul 27, 2011 | Jul 27, 2011 | ₹2.00 | 2.18% |
| 2 | Feb 01, 2011 | Feb 01, 2011 | Feb 01, 2011 | ₹2.00 | 2.13% |
| 3 | Nov 02, 2010 | Nov 02, 2010 | Nov 02, 2010 | ₹87.70 | 61.82% |
| 4 | Aug 18, 2010 | Aug 18, 2010 | Aug 18, 2010 | ₹2.00 | 1.99% |
| 5 | Jul 13, 2010 | Jul 13, 2010 | Jul 13, 2010 | ₹2.00 | 2.14% |
FAQ
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