Lakshmi Machine Works Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Lakshmi Machine Works Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 24, 2024)
The Lakshmi Machine Works Limited stock price fell by -0.161% on the last day (Monday, 24th Jun 2024) from ₹16,296.15 to ₹16,269.85. During the last trading day the stock fluctuated 2.67% from a day low at ₹16,252.05 to a day high of ₹16,685.70. The price has risen in 6 of the last 10 days and is up by 2.75% over the past 2 weeks. 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 -661 shares and in total, 125 shares were bought and sold for approximately ₹2.03 million.
The stock lies in the middle of a 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 -2.51% during the next 3 months and, with a 90% probability hold a price between ₹14,572.19 and ₹16,575.99 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.
LAXMIMACH.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 Lakshmi Machine Works Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹16,331.01 and ₹16,309.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -2.49%. 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 Lakshmi Machine Works Limited stock
Lakshmi Machine Works Limited finds support from accumulated volume at ₹15,577.75 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 ₹433.65 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: ₹15,568.89 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (LAXMIMACH.BO) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Lakshmi Machine Works Limited to open at ₹16,402.53, and during the day (based on 14 day Average True Range), to move between ₹15,786.95 and ₹16,752.75, which gives a possible trading interval of +/-₹482.90 (+/-2.97%) up or down from last closing price. If Lakshmi Machine Works Limited takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹16,428.80 (0.98%) than the support at ₹15,577.75 (4.25%), 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 Lakshmi Machine Works Limited stock A Buy?
Lakshmi Machine Works Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.398 Hold/Accumulate Upgraded
Predicted Opening Price for Lakshmi Machine Works Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₹16,402.53 ( 0.82%) | ₹16,269.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAXMIMACH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16,836.18 | 3.48% |
| R2 | 16,670.53 | 2.46% |
| R1 | 16,568.19 | 1.83% |
| Price | 16,269.85 | |
| S1 | 16,236.88 | -0.203% |
| S2 | 16,134.54 | -0.83% |
| S3 | 15,968.88 | -1.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17,403.50 | 6.97% |
| R2 | 16,715.05 | 2.74% |
| R1 | 16,428.80 | 0.98% |
| Price | 16,269.85 | |
| S1 | 15,577.75 | -4.25% |
| S2 | 15,164.25 | -6.80% |
| S3 | 15,121.50 | -7.06% |
LAXMIMACH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 24, 2024 | Jul 24, 2024 | Aug 30, 2024 | ₹75.00 | 0.461% |
| 2 | Jul 24, 2023 | Jul 24, 2023 | Aug 30, 2023 | ₹98.50 | 0.699% |
| 3 | Jul 15, 2022 | Jul 15, 2022 | Aug 10, 2022 | ₹40.00 | 0.378% |
| 4 | Jul 28, 2017 | Jul 28, 2017 | Sep 06, 2017 | ₹35.00 | 0.580% |
| 5 | Jul 27, 2016 | Jul 27, 2016 | Jul 27, 2016 | ₹40.00 | 1.08% |
FAQ
Click here for our free guide on how to buy Lakshmi Machine Works Limited Stock.
