HOV Services Limited Stock Forecast
HOV Services Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The HOV Services Limited stock price gained 4.96% on the last trading day (Friday, 17th May 2024), rising from ₹60.50 to ₹63.50. During the last trading day the stock fluctuated 5.48% from a day low at ₹60.20 to a day high of ₹63.50. The price has risen in 6 of the last 10 days and is up by 5.92% 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, 23 thousand more shares were traded than the day before. In total, 29 thousand shares were bought and sold for approximately ₹1.86 million.
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 ₹59.67 and ₹79.30 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.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 7.63%. 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). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The HOV Services Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹64.29. On a fall, the stock will find some support from the short-term average at ₹61.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for HOV Services Limited stock
HOV Services Limited finds support from accumulated volume at ₹62.95 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 ₹3.30 (5.48%) between high and low. For the last week, the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: ₹60.95 (-4.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (HOVS.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect HOV Services Limited to open at ₹62.40, and during the day (based on 14 day Average True Range), to move between ₹60.87 and ₹66.13, which gives a possible trading interval of +/-₹2.63 (+/-4.13%) up or down from last closing price. If HOV Services Limited takes out the full calculated possible swing range there will be an estimated 8.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹62.95 (0.87%) than the resistance at ₹73.20 (15.28%), 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
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 +/- 6.05% 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.512 Buy Candidate Upgraded
Predicted Opening Price for HOV Services Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹62.40 ( 1.73%) | ₹63.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HOVS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.70 | 3.46 % | |
| R2 | 64.44 | 1.48 % | ||
| R1 | 63.66 | 0.253 % | ||
| Current price: | 63.50 | |||
| Support | S1 | 61.14 | -3.72 % | |
| S2 | 60.36 | -4.94 % | ||
| S3 | 59.10 | -6.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 78.20 | 23.15 % | |
| R2 | 74.40 | 17.17 % | ||
| R1 | 73.20 | 15.28 % | ||
| Current price | 63.50 | |||
| Support | S1 | 62.95 | -0.87% | |
| S2 | 62.00 | -2.36% | ||
| S3 | 57.10 | -10.08% |
HOVS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 27, 2011 | Jul 27, 2011 | Sep 02, 2011 | ₹2.00 | 3.78% |
| 2 | Jan 19, 2011 | Feb 01, 2011 | Feb 01, 2011 | ₹2.00 | 2.14% |
| 3 | Oct 20, 2010 | Nov 02, 2010 | Nov 18, 2010 | ₹2.00 | 1.61% |
| 4 | Jul 13, 2010 | Aug 18, 2010 | Aug 27, 2010 | ₹2.00 | 2.06% |
| 5 | May 24, 2010 | Jul 13, 2010 | Jul 30, 2010 | ₹2.00 | 2.14% |
FAQ
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