Lemon Tree Hotels Limited Stock Forecast
Green day on Friday for Lemon Tree Hotels Limited
(Updated on Jun 14, 2024)
The Lemon Tree Hotels Limited stock price gained 3.63% on the last trading day (Friday, 14th Jun 2024), rising from ₹144.70 to ₹149.95. It has now gained 3 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 4.65% from a day low at ₹144.20 to a day high of ₹150.90. The price has risen in 7 of the last 10 days and is up by 10.1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 589 thousand more shares were traded than the day before. In total, 682 thousand shares were bought and sold for approximately ₹102.24 million.
The stock lies in the middle of a wide and weak 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 7.58% during the next 3 months and, with a 90% probability hold a price between ₹144.13 and ₹175.01 at the end of this 3-month period.
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LEMONTREE.BO Signals & Forecast
Mostly positive signals in the chart today. The Lemon Tree Hotels Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹143.84 and ₹144.78. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 13.26%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Lemon Tree Hotels Limited stock
Lemon Tree Hotels Limited finds support from accumulated volume at ₹149.45 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 ₹6.70 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: ₹142.02 (-5.29%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (LEMONTREE.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Lemon Tree Hotels Limited to open at ₹148.35, and during the day (based on 14 day Average True Range), to move between ₹144.36 and ₹155.54, which gives a possible trading interval of +/-₹5.59 (+/-3.73%) up or down from last closing price. If Lemon Tree Hotels Limited takes out the full calculated possible swing range there will be an estimated 7.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹149.45 (0.33%) than the resistance at ₹152.70 (1.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Lemon Tree Hotels 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 Lemon Tree Hotels Limited stock to perform well in the short-term.
Current score: 4.059 Buy Candidate Unchanged
Predicted Opening Price for Lemon Tree Hotels Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹148.35 ( 1.07%) | ₹149.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEMONTREE.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 155.05 | 3.40% |
R2 | 152.49 | 1.69% |
R1 | 150.91 | 0.640% |
Price | 149.95 | |
S1 | 145.79 | -2.77% |
S2 | 144.21 | -3.83% |
S3 | 141.65 | -5.54% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 155.90 | 3.97% |
R2 | 154.90 | 3.30% |
R1 | 152.70 | 1.83% |
Price | 149.95 | |
S1 | 149.45 | -0.333% |
S2 | 143.00 | -4.63% |
S3 | 132.40 | -11.70% |
FAQ
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