Lloyds Engineering Works Limited Stock Forecast
Lloyds Engineering Works Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Lloyds Engineering Works Limited stock price gained 1.35% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹71.95 to ₹72.92. During the last trading day the stock fluctuated 3.76% from a day low at ₹71.21 to a day high of ₹73.89. The price has risen in 6 of the last 10 days and is up by 9.13% over the past 2 weeks. Volume fell on the last day by -24 thousand shares and in total, 9 million shares were bought and sold for approximately ₹663.72 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 strong 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 19.95% during the next 3 months and, with a 90% probability hold a price between ₹82.11 and ₹90.45 at the end of this 3-month period.
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LLOYDSENGG.NS Signals & Forecast
The Lloyds Engineering Works 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 ₹71.03 and ₹66.17. 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 Monday, June 24, 2024, and so far it has fallen -1.82%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Lloyds Engineering Works Limited stock
Lloyds Engineering Works Limited finds support from accumulated volume at ₹69.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.68 between high and low, or 3.76%. For the last week, the stock has had daily average volatility of 6.13%.
Our recommended stop-loss: ₹70.61 (-3.16%) (This stock has high daily movements and this gives high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (LLOYDSENGG.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Lloyds Engineering Works Limited to open at ₹72.67, and during the day (based on 14 day Average True Range), to move between ₹68.96 and ₹76.88, which gives a possible trading interval of +/-₹3.96 (+/-5.43%) up or down from last closing price. If Lloyds Engineering Works Limited takes out the full calculated possible swing range there will be an estimated 10.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹74.27 (1.85%) than the support at ₹69.70 (4.42%), 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 Lloyds Engineering Works 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 Lloyds Engineering Works Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.321 Buy Candidate Upgraded
Predicted Opening Price for Lloyds Engineering Works Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₹72.67 ( 0.338%) | ₹72.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LLOYDSENGG.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 75.35 | 3.34% |
R2 | 74.33 | 1.93% |
R1 | 73.70 | 1.07% |
Price | 72.92 | |
S1 | 71.65 | -1.74% |
S2 | 71.02 | -2.61% |
S3 | 69.99 | -4.01% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 74.27 | 1.85% |
Price | 72.92 | |
S1 | 69.70 | -4.42% |
S2 | 69.61 | -4.54% |
S3 | 66.82 | -8.37% |
LLOYDSENGG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jul 17, 2023 | Jul 17, 2023 | Aug 22, 2023 | ₹0.0962 | 0% |
FAQ
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