MIRC Electronics Limited Stock Forecast
MIRC Electronics Limited stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on May 13, 2024)
The MIRC Electronics Limited stock price gained 3.37% on the last trading day (Monday, 13th May 2024), rising from ₹23.75 to ₹24.55. During the last trading day the stock fluctuated 9.93% from a day low at ₹22.65 to a day high of ₹24.90. The price has risen in 5 of the last 10 days but is still down by -3.16% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 654 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹41.93 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 -7.81% during the next 3 months and, with a 90% probability hold a price between ₹15.84 and ₹24.55 at the end of this 3-month period.
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MIRCELECTR.NS Signals & Forecast
The MIRC Electronics 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 ₹24.50 and ₹22.27. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, May 02, 2024, and so far it has fallen -8.74%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MIRC Electronics Limited stock
MIRC Electronics Limited finds support from accumulated volume at ₹23.95 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 ₹2.25 between high and low, or 9.93%. For the last week, the stock has had daily average volatility of 7.52%.
Our recommended stop-loss: ₹23.16 (-5.66%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (MIRCELECTR.NS) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect MIRC Electronics Limited to open at ₹24.03, and during the day (based on 14 day Average True Range), to move between ₹23.20 and ₹25.90, which gives a possible trading interval of +/-₹1.35 (+/-5.51%) up or down from last closing price. If MIRC Electronics Limited takes out the full calculated possible swing range there will be an estimated 11.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹23.95 (2.44%) than the resistance at ₹26.55 (8.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
MIRC Electronics Limited will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for MIRC Electronics Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.35% in the first trading day after earnings release.
Is MIRC Electronics Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.123 Buy Candidate Upgraded
Predicted Opening Price for MIRC Electronics Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹24.03 ( 2.10%) | ₹24.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIRCELECTR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 26.28 | 7.06 % | |
| R2 | 25.42 | 3.56 % | ||
| R1 | 24.89 | 1.40 % | ||
| Current price: | 24.55 | |||
| Support | S1 | 23.17 | -5.61 % | |
| S2 | 22.64 | -7.77 % | ||
| S3 | 21.78 | -11.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.75 | 17.11 % | |
| R2 | 28.60 | 16.50 % | ||
| R1 | 26.55 | 8.15 % | ||
| Current price | 24.55 | |||
| Support | S1 | 23.95 | -2.44% | |
| S2 | 23.25 | -5.30% | ||
| S3 | 18.85 | -23.22% |
MIRCELECTR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2011 | Jun 09, 2011 | Jul 04, 2011 | ₹0.89 | 3.94% |
| 2 | May 04, 2010 | Jun 10, 2010 | Jul 28, 2010 | ₹0.84 | 3.61% |
| 3 | Jun 25, 2009 | Aug 07, 2009 | Sep 17, 2009 | ₹0.355 | 2.26% |
| 4 | Apr 29, 2008 | Jun 19, 2008 | Jul 05, 2008 | ₹0.89 | 6.78% |
| 5 | Mar 12, 2007 | Mar 23, 2007 | Apr 10, 2007 | ₹0.666 | 4.10% |
FAQ
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