KJMC Financial Services Limited Stock Forecast
Stronger technical forecast for KJMC Financial Services Limited stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The KJMC Financial Services Limited stock price gained 2.55% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹64.00 to ₹65.63. During the last trading day the stock fluctuated 6.88% from a day low at ₹64.00 to a day high of ₹68.40. The price has risen in 6 of the last 10 days but is still down by -0.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 893 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹100.41 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹62.39 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 24.50% during the next 3 months and, with a 90% probability hold a price between ₹77.68 and ₹100.59 at the end of this 3-month period.
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KJMCFIN.BO Signals & Forecast
The KJMC Financial 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 ₹65.68. On a fall, the stock will find some support from the long-term average at approximately ₹65.34. 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. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -8.18%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for KJMC Financial Services Limited stock
KJMC Financial Services Limited finds support from accumulated volume at ₹63.54 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 ₹4.40 between high and low, or 6.88%. For the last week, the stock has had daily average volatility of 8.46%.
Our recommended stop-loss: ₹61.81 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (KJMCFIN.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect KJMC Financial Services Limited to open at ₹66.01, and during the day (based on 14 day Average True Range), to move between ₹59.63 and ₹71.63, which gives a possible trading interval of +/-₹6.00 (+/-9.14%) 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 18.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹63.54 (3.18%) than the resistance at ₹68.28 (4.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KJMC Financial Services Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for KJMC Financial Services Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 4.381 Buy Candidate Upgraded
Predicted Opening Price for KJMC Financial Services Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹66.01 ( 0.579%) | ₹65.63 |
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 | |
|---|---|---|
| R3 | 70.41 | 7.28% |
| R2 | 68.73 | 4.72% |
| R1 | 67.69 | 3.14% |
| Price | 65.63 | |
| S1 | 64.33 | -1.98% |
| S2 | 63.29 | -3.56% |
| S3 | 61.61 | -6.13% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 71.48 | 8.91% |
| R2 | 68.40 | 4.22% |
| R1 | 68.28 | 4.04% |
| Price | 65.63 | |
| S1 | 63.54 | -3.18% |
| S2 | 61.21 | -6.73% |
| S3 | 54.08 | -17.60% |
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