Mega Corporation Limited Stock Forecast

Mega Corporation Limited stock price ended at ₹2.65 on Tuesday, after losing 0%.
(Updated on Jun 25, 2024)

MEGACOR.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 3.11%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mega Corporation Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹2.69 and ₹2.68. A break-up above any of these levels will issue buy signals.

Support, Risk & Stop-loss for Mega Corporation Limited stock

Mega Corporation Limited finds support from accumulated volume at ₹2.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹0.150 between high and low, or 5.88%. For the last week the stock has had daily average volatility of 5.91%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MEGACOR.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Mega Corporation Limited to open at ₹2.63, and during the day (based on 14 day Average True Range), to move between ₹2.48 and ₹2.82, which gives a possible trading interval of +/-₹0.166 (+/-6.25%) up or down from last closing price. If Mega Corporation Limited takes out the full calculated possible swing range there will be an estimated 12.51% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2.62 (1.13%) than the resistance at ₹2.68 (1.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Mega Corporation Limited stock A Buy?

Mega Corporation 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.

Current score: -1.314 Sell Candidate Unchanged

Predicted Opening Price for Mega Corporation Limited of Wednesday, June 26, 2024

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