K&R RAIL ENGINEERING LIMITED Stock Forecast
K&R RAIL ENGINEERING LIMITED stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The K&R RAIL ENGINEERING LIMITED stock price fell by -1.98% on the last day (Tuesday, 25th Jun 2024) from ₹488.15 to ₹478.50. During the last trading day the stock fluctuated 6.11% from a day low at ₹475.00 to a day high of ₹504.00. The price has fallen in 6 of the last 10 days and is down by -0.9% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -30 thousand shares and in total, 30 thousand shares were bought and sold for approximately ₹14.43 million.
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 -17.02% during the next 3 months and, with a 90% probability hold a price between ₹339.88 and ₹425.97 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KRRAIL.BO Signals & Forecast
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. The K&R RAIL ENGINEERING LIMITED 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 ₹498.44. On a fall, the stock will find some support from the short-term average at ₹471.68. 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.98%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for K&R RAIL ENGINEERING LIMITED stock
K&R RAIL ENGINEERING LIMITED finds support from accumulated volume at ₹473.70 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 ₹29.00 between high and low, or 6.11%. For the last week, the stock has had daily average volatility of 7.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KRRAIL.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect K&R RAIL ENGINEERING LIMITED to open at ₹485.83, and during the day (based on 14 day Average True Range), to move between ₹451.27 and ₹505.73, which gives a possible trading interval of +/-₹27.23 (+/-5.69%) up or down from last closing price. If K&R RAIL ENGINEERING LIMITED takes out the full calculated possible swing range there will be an estimated 11.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹473.70 (1.00%) than the resistance at ₹524.75 (9.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is K&R RAIL ENGINEERING LIMITED stock A Buy?
K&R RAIL ENGINEERING LIMITED holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.939 Sell Candidate Downgraded
Predicted Opening Price for K&R RAIL ENGINEERING LIMITED of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹485.83 ( 1.53%) | ₹478.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KRRAIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 514.83 | 7.59% |
| R2 | 503.76 | 5.28% |
| R1 | 496.91 | 3.85% |
| Price | 478.50 | |
| S1 | 474.76 | -0.783% |
| S2 | 467.91 | -2.21% |
| S3 | 456.83 | -4.53% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 571.25 | 19.38% |
| R2 | 545.75 | 14.05% |
| R1 | 524.75 | 9.67% |
| Price | 478.50 | |
| S1 | 473.70 | -1.00% |
| S2 | 438.90 | -8.28% |
| S3 | 430.65 | -10.00% |
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