Morgan Ventures Limited Stock Forecast
Morgan Ventures Limited stock price up 2.59% on Tuesday
(Updated on Jun 18, 2024)
The Morgan Ventures Limited stock price gained 2.59% on the last trading day (Tuesday, 18th Jun 2024), rising from ₹48.33 to ₹49.58. During the last trading day the stock fluctuated 8.70% from a day low at ₹46.00 to a day high of ₹50.00. The price has risen in 5 of the last 10 days and is up by 0.73% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹81.36 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 lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹46.50 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.01% during the next 3 months and, with a 90% probability hold a price between ₹53.48 and ₹73.26 at the end of this 3-month period.
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MORGAN.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Morgan Ventures 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 ₹50.24. On a fall, the stock will find some support from the short-term average at ₹49.03. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -13.44%. Further fall is indicated until a new bottom pivot has been found. 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 Morgan Ventures Limited stock
Morgan Ventures Limited finds support from accumulated volume at ₹48.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹4.00 between high and low, or 8.70%. For the last week the stock has had daily average volatility of 4.98%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MORGAN.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Morgan Ventures Limited to open at ₹48.53, and during the day (based on 14 day Average True Range), to move between ₹46.59 and ₹52.57, which gives a possible trading interval of +/-₹2.99 (+/-6.03%) up or down from last closing price. If Morgan Ventures Limited takes out the full calculated possible swing range there will be an estimated 12.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹48.00 (3.19%) than the resistance at ₹52.00 (4.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Morgan Ventures Limited stock A Buy?
The Morgan Ventures Limited stock holds several negative signals and despite the positive trend, we believe Morgan Ventures Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.464 Sell Candidate Unchanged
Predicted Opening Price for Morgan Ventures Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹48.53 ( 2.12%) | ₹49.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MORGAN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 52.53 | 5.94% |
| R2 | 51.00 | 2.86% |
| R1 | 50.05 | 0.96% |
| Price | 49.58 | |
| S1 | 47.00 | -5.21% |
| S2 | 46.05 | -7.11% |
| S3 | 44.53 | -10.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.28 | 15.53% |
| R2 | 52.60 | 6.09% |
| R1 | 52.00 | 4.88% |
| Price | 49.58 | |
| S1 | 48.00 | -3.19% |
| S2 | 47.74 | -3.71% |
| S3 | 46.77 | -5.67% |
MORGAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2005 | Dec 22, 2005 | Dec 22, 2005 | ₹1.00 | 3.96% |
FAQ
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