Mid East Portfolio Management 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
Weaker technical forecast for Mid East Portfolio Management Limited as stock downgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The Mid East Portfolio Management Limited stock price fell by -0.508% on the last day (Friday, 21st Jun 2024) from ₹9.85 to ₹9.80. During the last trading day the stock fluctuated 9.94% from a day low at ₹9.36 to a day high of ₹10.29. The price has fallen in 7 of the last 10 days but is still up by 0.93% over the past 2 weeks. Volume has increased on the last day by 7 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, 8 thousand shares were bought and sold for approximately ₹76.64 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.41% during the next 3 months and, with a 90% probability hold a price between ₹9.35 and ₹12.46 at the end of this 3-month period.
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MIDEASTP.BO Signals & Forecast
There are mixed signals in the stock today. The Mid East Portfolio Management Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹10.23. On a fall, the stock will find some support from the short-term average at ₹9.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Mid East Portfolio Management 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". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 13.29%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Mid East Portfolio Management Limited stock
Mid East Portfolio Management Limited finds support from accumulated volume at ₹9.47 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 ₹0.93 between high and low, or 9.94%. For the last week, the stock has had daily average volatility of 4.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIDEASTP.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Mid East Portfolio Management Limited to open at ₹9.82, and during the day (based on 14 day Average True Range), to move between ₹9.48 and ₹10.12, which gives a possible trading interval of +/-₹0.320 (+/-3.26%) up or down from last closing price. If Mid East Portfolio Management Limited takes out the full calculated possible swing range there will be an estimated 6.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹9.47 (3.37%) than the resistance at ₹10.97 (11.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mid East Portfolio Management Limited stock A Buy?
Mid East Portfolio Management 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: -2.229 Sell Candidate Downgraded
Predicted Opening Price for Mid East Portfolio Management Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹9.82 ( 0.170%) | ₹9.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIDEASTP.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.75 | 9.66% |
| R2 | 10.39 | 6.03% |
| R1 | 10.17 | 3.80% |
| Price | 9.80 | |
| S1 | 9.46 | -3.46% |
| S2 | 9.24 | -5.69% |
| S3 | 8.89 | -9.32% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.21 | 14.39% |
| R2 | 11.01 | 12.35% |
| R1 | 10.97 | 11.94% |
| Price | 9.80 | |
| S1 | 9.47 | -3.37% |
| S2 | 9.15 | -6.63% |
| S3 | 9.08 | -7.35% |
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