HOV Services Limited Stock Forecast
HOV Services Limited stock price up 0.98% on Wednesday
(Updated on Jun 26, 2024)
The HOV Services Limited stock price gained 0.98% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹64.13 to ₹64.76. During the last trading day the stock fluctuated 4.69% from a day low at ₹64.00 to a day high of ₹67.00. The price has risen in 6 of the last 10 days and is up by 4.12% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 9 thousand shares were bought and sold for approximately ₹613.80 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.95% during the next 3 months and, with a 90% probability hold a price between ₹54.94 and ₹72.42 at the end of this 3-month period.
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HOVS.NS Signals & Forecast
The HOV Services 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 ₹65.05. On a fall, the stock will find some support from the long-term average at approximately ₹63.18. 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. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 9.76%. 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.
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 has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹3.00 between high and low, or 4.69%. For the last week the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: ₹62.73 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (HOVS.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect HOV Services Limited to open at ₹65.25, and during the day (based on 14 day Average True Range), to move between ₹61.75 and ₹67.77, which gives a possible trading interval of +/-₹3.01 (+/-4.64%) up or down from last closing price. If HOV Services Limited takes out the full calculated possible swing range there will be an estimated 9.29% 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 (2.79%) than the resistance at ₹73.20 (13.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HOV Services Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.231 Buy Candidate Unchanged
Predicted Opening Price for HOV Services Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹65.25 ( 0.762%) | ₹64.76 |
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 | |
|---|---|---|
| R3 | 68.25 | 5.39% |
| R2 | 67.11 | 3.62% |
| R1 | 66.40 | 2.53% |
| Price | 64.76 | |
| S1 | 64.11 | -1.01% |
| S2 | 63.40 | -2.10% |
| S3 | 62.25 | -3.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.20 | 20.75% |
| R2 | 74.40 | 14.89% |
| R1 | 73.20 | 13.03% |
| Price | 64.76 | |
| S1 | 62.95 | -2.79% |
| S2 | 62.00 | -4.26% |
| S3 | 57.10 | -11.83% |
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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