LGB Forge Limited Stock Forecast
Stronger technical forecast for LGB Forge Limited stock price after Friday trading.
(Updated on May 17, 2024)
The LGB Forge Limited stock price gained 0.82% on the last trading day (Friday, 17th May 2024), rising from ₹9.79 to ₹9.87. During the last trading day the stock fluctuated 3.18% from a day low at ₹9.76 to a day high of ₹10.07. The price has fallen in 6 of the last 10 days and is down by -2.95% for this period. Volume fell on the last day by -117 thousand shares and in total, 61 thousand shares were bought and sold for approximately ₹601.21 thousand. 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 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 -10.07% during the next 3 months and, with a 90% probability hold a price between ₹7.44 and ₹10.32 at the end of this 3-month period.
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LGBFORGE.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 10.03%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The LGB Forge 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 ₹10.08 and ₹10.08. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for LGB Forge Limited stock
LGB Forge Limited finds support from accumulated volume at ₹9.79 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.310 between high and low, or 3.18%. For the last week the stock has had daily average volatility of 6.39%.
Our recommended stop-loss: ₹9.50 (-3.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (LGBFORGE.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect LGB Forge Limited to open at ₹9.90, and during the day (based on 14 day Average True Range), to move between ₹9.33 and ₹10.41, which gives a possible trading interval of +/-₹0.545 (+/-5.52%) up or down from last closing price. If LGB Forge Limited takes out the full calculated possible swing range there will be an estimated 11.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹9.79 (0.81%) than the resistance at ₹10.22 (3.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LGB Forge Limited stock A Buy?
LGB Forge 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: -0.068 Hold/Accumulate Upgraded
Predicted Opening Price for LGB Forge Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹9.90 ( 0.304%) | ₹9.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LGBFORGE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.21 | 3.44 % | |
| R2 | 10.09 | 2.24 % | ||
| R1 | 10.02 | 1.50 % | ||
| Current price: | 9.87 | |||
| Support | S1 | 9.78 | -0.90 % | |
| S2 | 9.71 | -1.64 % | ||
| S3 | 9.59 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.02 | 11.65 % | |
| R2 | 10.78 | 9.22 % | ||
| R1 | 10.22 | 3.55 % | ||
| Current price | 9.87 | |||
| Support | S1 | 9.79 | -0.81% | |
| S2 | 9.76 | -1.11% | ||
| S3 | 9.51 | -3.65% |
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