North Eastern Carrying Corp Ltd Stock Forecast
Evaluation of North Eastern Carrying Corp Ltd stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The North Eastern Carrying Corp Ltd stock price gained 0.118% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹25.48 to ₹25.51. During the last trading day the stock fluctuated 2.77% from a day low at ₹25.25 to a day high of ₹25.95. The price has been going up and down for this period, and there has been a 5.63% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 194 thousand shares were bought and sold for approximately ₹4.95 million.
The stock lies in the middle of a 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 -7.58% during the next 3 months and, with a 90% probability hold a price between ₹20.71 and ₹25.24 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NECCLTD.NS Signals & Forecast
The North Eastern Carrying Corp Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹25.98. On a fall, the stock will find some support from the long-term average at approximately ₹25.08. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, June 20, 2024, and so far it has fallen -5.20%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for North Eastern Carrying Corp Ltd stock
North Eastern Carrying Corp Ltd finds support from accumulated volume at ₹25.35 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹0.700 between high and low, or 2.77%. For the last week, the stock has had daily average volatility of 3.70%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NECCLTD.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect North Eastern Carrying Corporation Limited to open at ₹25.57, and during the day (based on 14 day Average True Range), to move between ₹24.33 and ₹26.69, which gives a possible trading interval of +/-₹1.18 (+/-4.63%) up or down from last closing price. If North Eastern Carrying Corporation Limited takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹25.60 (0.35%) than the support at ₹25.35 (0.63%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is North Eastern Carrying Corporation Limited stock A Buy?
North Eastern Carrying Corp Ltd 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: -1.137 Sell Candidate Downgraded
Predicted Opening Price for North Eastern Carrying Corporation Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹25.57 ( 0.235%) | ₹25.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NECCLTD.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26.27 | 2.98% |
| R2 | 26.00 | 1.93% |
| R1 | 25.84 | 1.28% |
| Price | 25.51 | |
| S1 | 25.30 | -0.81% |
| S2 | 25.14 | -1.46% |
| S3 | 24.87 | -2.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 29.30 | 14.86% |
| R2 | 28.85 | 13.09% |
| R1 | 25.60 | 0.353% |
| Price | 25.51 | |
| S1 | 25.35 | -0.627% |
| S2 | 25.00 | -2.00% |
| S3 | 24.91 | -2.35% |
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