Manugraph India Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Manugraph India Limited
(Updated on Jun 21, 2024)
The Manugraph India Limited stock price fell by -2.81% on the last day (Friday, 21st Jun 2024) from ₹23.88 to ₹23.21. During the last trading day the stock fluctuated 3.92% from a day low at ₹23.20 to a day high of ₹24.11. The price has risen in 7 of the last 10 days and is up by 22.93% over the past 2 weeks. Volume has increased on the last day by 5 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 20 thousand shares were bought and sold for approximately ₹453.41 thousand.
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 -6.61% during the next 3 months and, with a 90% probability hold a price between ₹16.93 and ₹22.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MANUGRAPH.BO Signals & Forecast
The Manugraph India 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 ₹22.60 and ₹22.23. 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). 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 Thursday, June 20, 2024, and so far it has fallen -2.81%. Further fall is indicated until a new bottom pivot has been found. Manugraph India Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Manugraph India Limited stock
Manugraph India Limited finds support from accumulated volume at ₹22.77 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 ₹0.91 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 6.97%.
Our recommended stop-loss: ₹22.41 (-3.44%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (MANUGRAPH.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Manugraph India Limited to open at ₹23.51, and during the day (based on 14 day Average True Range), to move between ₹21.89 and ₹24.53, which gives a possible trading interval of +/-₹1.32 (+/-5.69%) up or down from last closing price. If Manugraph India Limited takes out the full calculated possible swing range there will be an estimated 11.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹22.77 (1.90%) than the resistance at ₹24.77 (6.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Manugraph India Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.721 Buy Candidate Unchanged
Predicted Opening Price for Manugraph India Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹23.51 ( 1.28%) | ₹23.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MANUGRAPH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.42 | 5.20% |
| R2 | 24.07 | 3.70% |
| R1 | 23.85 | 2.78% |
| Price | 23.21 | |
| S1 | 23.16 | -0.220% |
| S2 | 22.94 | -1.14% |
| S3 | 22.60 | -2.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.33 | 9.13% |
| R2 | 24.99 | 7.67% |
| R1 | 24.77 | 6.72% |
| Price | 23.21 | |
| S1 | 22.77 | -1.90% |
| S2 | 22.75 | -1.98% |
| S3 | 20.42 | -12.02% |
MANUGRAPH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 04, 2019 | Dec 04, 2019 | Dec 16, 2019 | ₹0.500 | 3.74% |
| 2 | Jul 19, 2017 | Jul 19, 2017 | Aug 26, 2017 | ₹0.500 | 1.06% |
| 3 | Jul 18, 2016 | Jul 18, 2016 | Jul 18, 2016 | ₹1.00 | 1.80% |
| 4 | Aug 05, 2015 | Aug 05, 2015 | Aug 05, 2015 | ₹0.500 | 1.39% |
| 5 | Aug 13, 2014 | Aug 13, 2014 | Aug 13, 2014 | ₹1.00 | 3.40% |
FAQ
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