Mercury Laboratories Limited Stock Forecast
Stronger technical forecast for Mercury Laboratories Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Mercury Laboratories Limited stock price gained 0.148% on the last trading day (Friday, 17th May 2024), rising from ₹878.70 to ₹880.00. During the last trading day the stock fluctuated 0.114% from a day low at ₹880.00 to a day high of ₹881.00. The price has been going up and down for this period, and there has been a 0.57% gain for the last 2 weeks. Volume fell on the last day by -52 shares and in total, 37 shares were bought and sold for approximately ₹32.56 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Mercury Laboratories Limited stock with a 90% probability to be traded between ₹786.49 and ₹928.33 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MERCURYLAB.BO Signals & Forecast
The Mercury Laboratories Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹862.96 and ₹875.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 4.64%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Mercury Laboratories Limited stock
Mercury Laboratories Limited finds support from accumulated volume at ₹874.95 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹1.00 between high and low, or 0.114%. For the last week the stock has had daily average volatility of 2.50%
Our recommended stop-loss: ₹842.50 (-4.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (MERCURYLAB.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Mercury Laboratories Limited to open at ₹880.33, and during the day (based on 14 day Average True Range), to move between ₹847.56 and ₹912.44, which gives a possible trading interval of +/-₹32.44 (+/-3.69%) up or down from last closing price. If Mercury Laboratories Limited takes out the full calculated possible swing range there will be an estimated 7.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹874.95 (0.57%) than the resistance at ₹885.40 (0.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mercury Laboratories Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Mercury Laboratories Limited stock to perform well in 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: 1.116 Buy Candidate Upgraded
Predicted Opening Price for Mercury Laboratories Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹880.33 ( 0.0379%) | ₹880.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MERCURYLAB.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 881.33 | 0.152 % | |
| R2 | 880.95 | 0.108 % | ||
| R1 | 880.72 | 0.0813 % | ||
| Current price: | 880.00 | |||
| Support | S1 | 879.95 | -0.0055 % | |
| S2 | 879.72 | -0.0323 % | ||
| S3 | 879.33 | -0.0758 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 919.70 | 4.51 % | |
| R2 | 894.00 | 1.59 % | ||
| R1 | 885.40 | 0.614 % | ||
| Current price | 880.00 | |||
| Support | S1 | 874.95 | -0.574% | |
| S2 | 867.90 | -1.37% | ||
| S3 | 862.00 | -2.05% |
FAQ
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