Longview Tea Company Limited Stock Forecast
Longview Tea Company Limited stock price ended at ₹41.00 on Thursday, after gaining 2.81%.
(Updated on May 16, 2024)
The Longview Tea Company Limited stock price gained 2.81% on the last trading day (Thursday, 16th May 2024), rising from ₹39.88 to ₹41.00. During the last trading day the stock fluctuated 2.12% from a day low at ₹41.00 to a day high of ₹41.87. The price has fallen in 6 of the last 10 days and is down by -13.23% for this period. Volume fell on the last day by -1 thousand shares and in total, 39 shares were bought and sold for approximately ₹1.60 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Longview Tea Company Limited stock with a 90% probability to be traded between ₹33.07 and ₹60.78 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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LONTE.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Longview Tea Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹41.80 and ₹44.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -33.71%. 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). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Longview Tea Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹38.01 and ₹36.20. 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, Longview Tea Company Limited finds support just below today's level at ₹38.01. If this is broken, then the next support from accumulated volume will be at ₹36.20 and ₹34.48.
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 ₹0.87 between high and low, or 2.12%. For the last week the stock has had daily average volatility of 6.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LONTE.BO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Longview Tea Company Limited to open at ₹41.29, and during the day (based on 14 day Average True Range), to move between ₹38.33 and ₹43.67, which gives a possible trading interval of +/-₹2.67 (+/-6.51%) up or down from last closing price. If Longview Tea Company Limited takes out the full calculated possible swing range there will be an estimated 13.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹38.01 (7.29%) than the resistance at ₹45.38 (10.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Longview Tea Company Limited stock A Buy?
Longview Tea Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.982 Sell Candidate Unchanged
Predicted Opening Price for Longview Tea Company Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹41.29 ( 0.707%) | ₹41.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LONTE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.16 | 2.83 % | |
| R2 | 41.83 | 2.02 % | ||
| R1 | 41.62 | 1.52 % | ||
| Current price: | 41.00 | |||
| Support | S1 | 40.96 | -0.103 % | |
| S2 | 40.75 | -0.604 % | ||
| S3 | 40.42 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.90 | 24.15 % | |
| R2 | 47.50 | 15.85 % | ||
| R1 | 45.38 | 10.68 % | ||
| Current price | 41.00 | |||
| Support | S1 | 38.01 | -7.29% | |
| S2 | 36.20 | -11.71% | ||
| S3 | 34.48 | -15.90% |
FAQ
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