Dr. Lal PathLabs Limited Stock Forecast
Stronger technical forecast for Dr. Lal PathLabs Limited stock price after Tuesday trading.
(Updated on Apr 16, 2024)
The Dr. Lal PathLabs Limited stock price gained 0.289% on the last trading day (Tuesday, 16th Apr 2024), rising from ₹2,318.65 to ₹2,325.35. During the last trading day the stock fluctuated 2.08% from a day low at ₹2,288.60 to a day high of ₹2,336.25. The price has risen in 7 of the last 10 days and is up by 2.77% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹4.43 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹2,348.14 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.01% during the next 3 months and, with a 90% probability hold a price between ₹1,691.96 and ₹2,066.18 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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LALPATHLAB.BO Signals & Forecast
The Dr. Lal PathLabs 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 ₹2,306.80 and ₹2,239.48. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, April 12, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Dr. Lal PathLabs Limited stock
Dr. Lal PathLabs Limited finds support from accumulated volume at ₹2,268.05 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 ₹47.65 between high and low, or 2.08%. For the last week, the stock has had daily average volatility of 2.70%.
The Dr. Lal PathLabs Limited stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹2,246.44 (-3.39%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (LALPATHLAB.BO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Dr. Lal PathLabs Limited to open at ₹2,316.73, and during the day (based on 14 day Average True Range), to move between ₹2,263.92 and ₹2,386.79, which gives a possible trading interval of +/-₹61.43 (+/-2.64%) up or down from last closing price. If Dr. Lal PathLabs Limited takes out the full calculated possible swing range there will be an estimated 5.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,359.00 (1.45%) than the support at ₹2,268.05 (2.46%), 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 Dr. Lal PathLabs Limited stock A Buy?
Dr. Lal PathLabs Limited 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: -0.832 Hold/Accumulate Upgraded
Predicted Opening Price for Dr. Lal PathLabs Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ₹2,316.73 ( 0.371%) | ₹2,325.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LALPATHLAB.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,364.38 | 1.68 % | |
| R2 | 2,346.18 | 0.90 % | ||
| R1 | 2,334.94 | 0.412 % | ||
| Current price: | 2,325.35 | |||
| Support | S1 | 2,298.53 | -1.15 % | |
| S2 | 2,287.29 | -1.64 % | ||
| S3 | 2,269.08 | -2.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,498.50 | 7.45 % | |
| R2 | 2,454.45 | 5.55 % | ||
| R1 | 2,359.00 | 1.45 % | ||
| Current price | 2,325.35 | |||
| Support | S1 | 2,268.05 | -2.46% | |
| S2 | 2,050.00 | -11.84% | ||
| S3 | 2,009.75 | -13.57% |
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