KJMC Financial Services Limited Stock Forecast
KJMC Financial Services Limited stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The KJMC Financial Services Limited stock price gained 1.50% on the last trading day (Friday, 17th May 2024), rising from ₹66.75 to ₹67.75. It has now gained 4 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 9.03% from a day low at ₹62.35 to a day high of ₹67.98. The price has risen in 6 of the last 10 days but is still down by -0.95% 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, 2 thousand shares were bought and sold for approximately ₹137.67 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 27.00% during the next 3 months and, with a 90% probability hold a price between ₹74.50 and ₹93.93 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KJMCFIN.BO Signals & Forecast
Mostly positive signals in the chart today. The KJMC Financial 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 ₹64.55 and ₹58.17. 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 10.68%. 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). KJMC Financial 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 KJMC Financial Services Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹63.54 and ₹61.21. 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, KJMC Financial Services Limited finds support just below today's level at ₹63.54. If this is broken, then the next support from accumulated volume will be at ₹61.21 and ₹54.08.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹5.63 between high and low, or 9.03%. For the last week, the stock has had daily average volatility of 7.84%.
Our recommended stop-loss: ₹65.22 (-3.74%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (KJMCFIN.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect KJMC Financial Services Limited to open at ₹66.03, and during the day (based on 14 day Average True Range), to move between ₹61.69 and ₹73.81, which gives a possible trading interval of +/-₹6.06 (+/-8.95%) up or down from last closing price. If KJMC Financial Services Limited takes out the full calculated possible swing range there will be an estimated 17.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹68.28 (0.78%) than the support at ₹63.54 (6.21%), 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 KJMC Financial Services Limited stock A Buy?
KJMC Financial Services Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.078 Strong Buy Candidate Upgraded
Predicted Opening Price for KJMC Financial Services Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹66.03 ( 2.54%) | ₹67.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KJMCFIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.66 | 5.77 % | |
| R2 | 69.51 | 2.59 % | ||
| R1 | 68.18 | 0.631 % | ||
| Current price: | 67.75 | |||
| Support | S1 | 63.88 | -5.72 % | |
| S2 | 62.55 | -7.68 % | ||
| S3 | 60.40 | -10.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 71.48 | 5.51 % | |
| R2 | 68.40 | 0.96 % | ||
| R1 | 68.28 | 0.782 % | ||
| Current price | 67.75 | |||
| Support | S1 | 63.54 | -6.21% | |
| S2 | 61.21 | -9.65% | ||
| S3 | 54.08 | -20.18% |
FAQ
Click here for our free guide on how to buy KJMC Financial Services Limited Stock.
