Lemon Tree Hotels Limited Stock Forecast
Lemon Tree Hotels Limited stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The Lemon Tree Hotels Limited stock price gained 2.01% on the last trading day (Friday, 17th May 2024), rising from ₹142.00 to ₹144.85. During the last trading day the stock fluctuated 2.14% from a day low at ₹142.25 to a day high of ₹145.30. The price has been going up and down for this period, and there has been a -6.61% loss for the last 2 weeks. Volume fell on the last day by -445 thousand shares and in total, 1 million shares were bought and sold for approximately ₹209.78 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 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 7.94% during the next 3 months and, with a 90% probability hold a price between ₹144.19 and ₹171.64 at the end of this 3-month period.
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LEMONTREE.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -7.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Lemon Tree Hotels 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 ₹143.44 and ₹142.65. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Lemon Tree Hotels Limited stock
Lemon Tree Hotels Limited finds support from accumulated volume at ₹144.50 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 ₹3.05 between high and low, or 2.14%. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: ₹137.09 (-5.35%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (LEMONTREE.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Lemon Tree Hotels Limited to open at ₹144.13, and during the day (based on 14 day Average True Range), to move between ₹139.66 and ₹150.04, which gives a possible trading interval of +/-₹5.19 (+/-3.59%) 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 7.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹144.50 (0.24%) than the resistance at ₹149.55 (3.24%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.064 Buy Candidate Upgraded
Predicted Opening Price for Lemon Tree Hotels Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹144.13 ( 0.495%) | ₹144.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LEMONTREE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 147.18 | 1.61 % | |
| R2 | 146.02 | 0.81 % | ||
| R1 | 145.30 | 0.310 % | ||
| Current price: | 144.85 | |||
| Support | S1 | 142.97 | -1.30 % | |
| S2 | 142.25 | -1.80 % | ||
| S3 | 141.08 | -2.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 155.95 | 7.66 % | |
| R2 | 152.80 | 5.49 % | ||
| R1 | 149.55 | 3.24 % | ||
| Current price | 144.85 | |||
| Support | S1 | 144.50 | -0.242% | |
| S2 | 141.70 | -2.17% | ||
| S3 | 137.45 | -5.11% |
FAQ
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