HOV Services Limited Stock Forecast
HOV Services Limited stock price up 0.0895% on Friday
(Updated on Jun 14, 2024)
The HOV Services Limited stock price gained 0.0895% on the last trading day (Friday, 14th Jun 2024), rising from ₹67.06 to ₹67.12. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.15% from a day low at ₹66.00 to a day high of ₹69.40. The price has risen in 6 of the last 10 days and is up by 9.05% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 16 thousand shares were bought and sold for approximately ₹1.10 million. 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 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 ₹59.95 and ₹79.59 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HOVS.NS Signals & Forecast
The HOV Services 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 ₹64.07 and ₹62.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 06, 2024, and so far it has risen 13.76%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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
On the downside, the stock finds support just below today's level from accumulated volume at ₹62.95 and ₹62.00. 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 ₹62.95. If this is broken, then the next support from accumulated volume will be at ₹62.00 and ₹57.10.
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 ₹3.40 between high and low, or 5.15%. For the last week the stock has had daily average volatility of 4.13%.
Our recommended stop-loss: ₹64.86 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (HOVS.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect HOV Services Limited to open at ₹67.51, and during the day (based on 14 day Average True Range), to move between ₹64.08 and ₹70.16, which gives a possible trading interval of +/-₹3.04 (+/-4.53%) up or down from last closing price. If HOV Services Limited takes out the full calculated possible swing range there will be an estimated 9.05% 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 (6.21%) than the resistance at ₹73.20 (9.06%), 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?
HOV Services Limited holds several positive signals and is considered to be a good choice at current levels. We expect the HOV Services Limited stock to perform great in the short-term period.
Current score: 5.180 Strong Buy Candidate Unchanged
Predicted Opening Price for HOV Services Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹67.51 ( 0.576%) | ₹67.12 |
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 | 70.91 | 5.64% |
| R2 | 69.61 | 3.71% |
| R1 | 68.81 | 2.51% |
| Price | 67.12 | |
| S1 | 66.21 | -1.36% |
| S2 | 65.41 | -2.55% |
| S3 | 64.11 | -4.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 78.20 | 16.51% |
| R2 | 74.40 | 10.85% |
| R1 | 73.20 | 9.06% |
| Price | 67.12 | |
| S1 | 62.95 | -6.21% |
| S2 | 62.00 | -7.63% |
| S3 | 57.10 | -14.93% |
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
Click here for our free guide on how to buy HOV Services Limited Stock.
