Ludlow Jute & Specialities Limited Stock Forecast

Stronger technical forecast for Ludlow Jute & Specialities Limited stock price after Tuesday trading.
(Updated on May 21, 2024)

LUDLOWJUT.BO Signals & Forecast

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. The Ludlow Jute & Specialities 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 ₹85.15 and ₹85.92. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -5.69%. 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 stock had a Golden Star Signal on Thursday, September 21, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Ludlow Jute & Specialities Limited stock

Ludlow Jute & Specialities Limited finds support from accumulated volume at ₹83.99 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹3.40 (4.11%) between high and low. For the last week, the stock has had daily average volatility of 3.80%.

Our recommended stop-loss: ₹79.47 (-5.63%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (LUDLOWJUT.BO) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Ludlow Jute & Specialities Limited to open at ₹84.34, and during the day (based on 14 day Average True Range), to move between ₹80.92 and ₹87.50, which gives a possible trading interval of +/-₹3.29 (+/-3.91%) up or down from last closing price. If Ludlow Jute & Specialities Limited takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹83.99 (0.26%) than the resistance at ₹87.09 (3.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ludlow Jute & Specialities Limited stock A Buy?

Ludlow Jute & Specialities 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: -0.525 Hold/Accumulate Upgraded

Predicted Opening Price for Ludlow Jute & Specialities Limited of Wednesday, May 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.