Monte Carlo Fashions 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
Monte Carlo Fashions Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The Monte Carlo Fashions Limited stock price gained 0.289% on the last trading day (Friday, 14th Jun 2024), rising from ₹587.45 to ₹589.15. During the last trading day the stock fluctuated 2.79% from a day low at ₹582.25 to a day high of ₹598.50. The price has fallen in 7 of the last 10 days and is down by -4.33% for this period. Volume fell on the last day by -10 thousand shares and in total, 58 thousand shares were bought and sold for approximately ₹34.39 million. 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 at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹584.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Monte Carlo Fashions Limited stock with a 90% probability to be traded between ₹581.33 and ₹693.89 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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MONTECARLO.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 0.666%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Monte Carlo Fashions Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹590.22 and ₹652.11. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Monte Carlo Fashions Limited stock
Monte Carlo Fashions Limited finds support from accumulated volume at ₹587.45 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 ₹16.25 between high and low, or 2.79%. For the last week, the stock has had daily average volatility of 2.46%.
Monte Carlo Fashions Limited is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: ₹554.43 (-5.89%) (This stock has high daily movements and this gives high risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (MONTECARLO.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Monte Carlo Fashions Limited to open at ₹589.97, and during the day (based on 14 day Average True Range), to move between ₹566.10 and ₹612.20, which gives a possible trading interval of +/-₹23.05 (+/-3.91%) up or down from last closing price. If Monte Carlo Fashions Limited takes out the full calculated possible swing range there will be an estimated 7.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹587.45 (0.29%) than the resistance at ₹602.70 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Monte Carlo Fashions Limited stock A Buy?
Monte Carlo Fashions Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.577 Hold/Accumulate Upgraded
Predicted Opening Price for Monte Carlo Fashions Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹589.97 ( 0.139%) | ₹589.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MONTECARLO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 606.22 | 2.90% |
| R2 | 600.01 | 1.84% |
| R1 | 596.17 | 1.19% |
| Price | 589.15 | |
| S1 | 583.76 | -0.92% |
| S2 | 579.92 | -1.57% |
| S3 | 573.72 | -2.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 700.30 | 18.87% |
| R2 | 616.15 | 4.58% |
| R1 | 602.70 | 2.30% |
| Price | 589.15 | |
| S1 | 587.45 | -0.289% |
| S2 | 586.25 | -0.492% |
| S3 | 585.25 | -0.662% |
MONTECARLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 24, 2023 | Aug 24, 2023 | Sep 30, 2023 | ₹20.00 | 2.51% |
| 2 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹20.00 | 2.36% |
| 3 | Sep 16, 2021 | Sep 16, 2021 | Sep 16, 2021 | ₹15.00 | 4.14% |
| 4 | Sep 18, 2020 | Sep 18, 2020 | Sep 18, 2020 | ₹5.00 | 2.76% |
| 5 | May 25, 2018 | Sep 18, 2018 | Oct 27, 2018 | ₹12.00 | 3.46% |
FAQ
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