Macrotech Developers Limited Stock Forecast
Macrotech Developers Limited stock price up 0.364% on Friday
(Updated on May 17, 2024)
The Macrotech Developers Limited stock price gained 0.364% on the last trading day (Friday, 17th May 2024), rising from ₹1,194.85 to ₹1,199.20. It has now gained 5 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 2.42% from a day low at ₹1,187.50 to a day high of ₹1,216.20. The price has risen in 6 of the last 10 days but is still down by -0.98% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately ₹25.02 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 5.91% during the next 3 months and, with a 90% probability hold a price between ₹1,112.59 and ₹1,346.52 at the end of this 3-month period.
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LODHA.BO Signals & Forecast
The Macrotech Developers 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 ₹1,162.51 and ₹1,177.03. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 24, 2024, and so far it has fallen -4.18%. 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).
Support, Risk & Stop-loss for Macrotech Developers Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,136.20 and ₹1,119.70. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Macrotech Developers Limited finds support just below today's level at ₹1,136.20. If this is broken, then the next support from accumulated volume will be at ₹1,119.70 and ₹1,080.90.
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 ₹28.70 between high and low, or 2.42%. For the last week, the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: ₹1,132.19 (-5.59%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 39 days ago.)
Trading Expectations (LODHA.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Macrotech Developers Limited to open at ₹1,200.97, and during the day (based on 14 day Average True Range), to move between ₹1,146.03 and ₹1,252.37, which gives a possible trading interval of +/-₹53.17 (+/-4.43%) up or down from last closing price. If Macrotech Developers Limited takes out the full calculated possible swing range there will be an estimated 8.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,213.30 (1.18%) than the support at ₹1,136.20 (5.25%), 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 Macrotech Developers Limited stock A Buy?
Macrotech Developers Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.807 Hold/Accumulate Unchanged
Predicted Opening Price for Macrotech Developers Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹1,200.97 ( 0.147%) | ₹1,199.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LODHA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,229.67 | 2.54 % | |
| R2 | 1,218.70 | 1.63 % | ||
| R1 | 1,211.93 | 1.06 % | ||
| Current price: | 1,199.20 | |||
| Support | S1 | 1,190.00 | -0.767 % | |
| S2 | 1,183.23 | -1.33 % | ||
| S3 | 1,172.27 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,237.35 | 3.18 % | |
| R2 | 1,226.00 | 2.23 % | ||
| R1 | 1,213.30 | 1.18 % | ||
| Current price | 1,199.20 | |||
| Support | S1 | 1,136.20 | -5.25% | |
| S2 | 1,119.70 | -6.63% | ||
| S3 | 1,080.90 | -9.86% |
LODHA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Oct 15, 2023 | ₹1.00 | 0.123% |
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