Mehai Technology Limited Stock Forecast
Mehai Technology Limited stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Mehai Technology Limited stock price fell by -0.640% on the last day (Thursday, 25th Apr 2024) from ₹26.55 to ₹26.38. During the last trading day the stock fluctuated 4.76% from a day low at ₹26.25 to a day high of ₹27.50. The price has fallen in 7 of the last 10 days and is down by -5.11% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 24 thousand shares were bought and sold for approximately ₹628.69 thousand.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹25.91, a level that may pose a second chance to hit a runner. According to fan-theory ₹36.38 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MEHAI.BO Signals & Forecast
The Mehai Technology 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 ₹25.71 and ₹23.64. 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 Monday, April 08, 2024, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Mehai Technology Limited stock
Mehai Technology Limited finds support from accumulated volume at ₹25.28 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 very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved ₹1.25 between high and low, or 4.76%. For the last week the stock has had daily average volatility of 10.41%.
Our recommended stop-loss: ₹25.16 (-4.64%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (MEHAI.BO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Mehai Technology Limited to open at ₹26.71, and during the day (based on 14 day Average True Range), to move between ₹24.28 and ₹28.48, which gives a possible trading interval of +/-₹2.10 (+/-7.95%) up or down from last closing price. If Mehai Technology Limited takes out the full calculated possible swing range there will be an estimated 15.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹25.28 (4.17%) than the resistance at ₹27.80 (5.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mehai Technology Limited stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.582 Buy Candidate Upgraded
Predicted Opening Price for Mehai Technology Limited of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| ₹26.71 ( 1.25%) | ₹26.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MEHAI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 27.96 | 5.99 % | |
| R2 | 27.48 | 4.18 % | ||
| R1 | 27.19 | 3.06 % | ||
| Current price: | 26.38 | |||
| Support | S1 | 26.23 | -0.559 % | |
| S2 | 25.94 | -1.68 % | ||
| S3 | 25.46 | -3.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.42 | 19.11 % | |
| R2 | 28.59 | 8.38 % | ||
| R1 | 27.80 | 5.38 % | ||
| Current price | 26.38 | |||
| Support | S1 | 25.28 | -4.17% | |
| S2 | 23.01 | -12.77% | ||
| S3 | 20.88 | -20.85% |
FAQ
Click here for our free guide on how to buy Mehai Technology Limited Stock.
