J. B. Chemicals & Pharmaceuticals Ltd Stock Forecast
J. B. Chemicals & Pharmaceuticals Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The J. B. Chemicals & Pharmaceuticals Ltd stock price gained 4.57% on the last trading day (Friday, 28th Jun 2024), rising from ₹1,679.30 to ₹1,756.05. During the last trading day the stock fluctuated 5.02% from a day low at ₹1,701.50 to a day high of ₹1,786.85. The price has fallen in 8 of the last 10 days and is down by -7.08% for this period. 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, 11 thousand shares were bought and sold for approximately ₹18.55 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect J. B. Chemicals & Pharmaceuticals Ltd stock with a 90% probability to be traded between ₹1,693.79 and ₹1,939.94 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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JBCHEPHARM.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 4.57%. Further rise is indicated until a new top pivot has been found. 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 J. B. Chemicals & Pharmaceuticals Ltd 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 ₹1,781.97. On a fall, the stock will find some support from the short-term average at ₹1,745.99. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for J. B. Chemicals & Pharmaceuticals Ltd stock
J. B. Chemicals & Pharmaceuticals Ltd finds support from accumulated volume at ₹1,728.45 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹85.35 between high and low, or 5.02%. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: ₹1,664.63 (-5.21%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (JBCHEPHARM.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect J. B. Chemicals & Pharmaceuticals Limited to open at ₹1,748.13, and during the day (based on 14 day Average True Range), to move between ₹1,690.62 and ₹1,821.48, which gives a possible trading interval of +/-₹65.43 (+/-3.73%) up or down from last closing price. If J. B. Chemicals & Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 7.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,781.70 (1.46%) than the support at ₹1,728.45 (1.57%), 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.
Is J. B. Chemicals & Pharmaceuticals Limited stock A Buy?
J. B. Chemicals & Pharmaceuticals Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.554 Hold/Accumulate Upgraded
Predicted Opening Price for J. B. Chemicals & Pharmaceuticals Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,748.13 ( 0.451%) | ₹1,756.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JBCHEPHARM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,833.48 | 4.41% |
| R2 | 1,800.88 | 2.55% |
| R1 | 1,780.74 | 1.41% |
| Price | 1,756.05 | |
| S1 | 1,715.53 | -2.31% |
| S2 | 1,695.39 | -3.45% |
| S3 | 1,662.78 | -5.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,883.85 | 7.28% |
| R2 | 1,881.10 | 7.12% |
| R1 | 1,781.70 | 1.46% |
| Price | 1,756.05 | |
| S1 | 1,728.45 | -1.57% |
| S2 | 1,701.75 | -3.09% |
| S3 | 1,679.30 | -4.37% |
JBCHEPHARM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Feb 16, 2024 | Mar 07, 2024 | ₹5.50 | 0.346% |
| 2 | Aug 17, 2023 | Aug 17, 2023 | Sep 23, 2023 | ₹9.25 | 0.671% |
| 3 | Feb 17, 2023 | Feb 17, 2023 | Mar 01, 2023 | ₹8.50 | 0.427% |
| 4 | Sep 11, 2017 | Sep 11, 2017 | Sep 22, 2017 | ₹0.500 | 0.179% |
| 5 | Aug 11, 2016 | Aug 11, 2016 | Aug 11, 2016 | ₹0.500 | 0.178% |
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