McLeod Russel 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
McLeod Russel India Limited stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)
The McLeod Russel India Limited stock price fell by -4.79% on the last day (Tuesday, 25th Jun 2024) from ₹28.39 to ₹27.03. During the last trading day the stock fluctuated 7.93% from a day low at ₹26.75 to a day high of ₹28.87. The price has risen in 7 of the last 10 days and is up by 13.33% over the past 2 weeks. Volume has increased on the last day by 30 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, 517 thousand shares were bought and sold for approximately ₹13.98 million.
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 -3.09% during the next 3 months and, with a 90% probability hold a price between ₹20.69 and ₹28.54 at the end of this 3-month period.
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MCLEODRUSS.NS Signals & Forecast
The McLeod Russel India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹28.50. On a fall, the stock will find some support from the long-term average at approximately ₹25.20. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 18, 2024, and so far it has fallen -8.47%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for McLeod Russel India Limited stock
McLeod Russel India Limited finds support from accumulated volume at ₹26.60 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 ₹2.12 between high and low, or 7.93%. For the last week, the stock has had daily average volatility of 6.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MCLEODRUSS.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect McLeod Russel India Limited to open at ₹27.55, and during the day (based on 14 day Average True Range), to move between ₹25.42 and ₹28.64, which gives a possible trading interval of +/-₹1.61 (+/-5.97%) up or down from last closing price. If McLeod Russel India Limited takes out the full calculated possible swing range there will be an estimated 11.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹27.23 (0.74%) than the support at ₹26.60 (1.59%), 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 McLeod Russel India Limited stock A Buy?
McLeod Russel India Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.371 Sell Candidate Downgraded
Predicted Opening Price for McLeod Russel India Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹27.55 ( 1.92%) | ₹27.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MCLEODRUSS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.67 | 9.77% |
| R2 | 28.86 | 6.77% |
| R1 | 28.36 | 4.92% |
| Price | 27.03 | |
| S1 | 26.74 | -1.07% |
| S2 | 26.24 | -2.92% |
| S3 | 25.43 | -5.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.53 | 9.25% |
| R2 | 29.30 | 8.40% |
| R1 | 27.23 | 0.740% |
| Price | 27.03 | |
| S1 | 26.60 | -1.59% |
| S2 | 25.35 | -6.22% |
| S3 | 24.65 | -8.81% |
MCLEODRUSS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2018 | Aug 01, 2018 | Aug 01, 2018 | ₹0.500 | 0.381% |
| 2 | May 30, 2017 | Aug 01, 2017 | Aug 01, 2017 | ₹0.250 | 0.139% |
| 3 | May 30, 2016 | Jul 26, 2016 | Sep 07, 2016 | ₹2.00 | 1.06% |
| 4 | May 28, 2015 | Jul 24, 2015 | Sep 03, 2015 | ₹3.00 | 1.88% |
| 5 | May 23, 2014 | Jul 14, 2014 | Aug 22, 2014 | ₹7.00 | 2.41% |
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