Norben Tea & Exports Limited Stock Forecast
Norben Tea & Exports Limited stock downgraded to Sell Candidate
(Updated on Jun 26, 2024)
The Norben Tea & Exports Limited stock price fell by -3.85% on the last day (Wednesday, 26th Jun 2024) from ₹13.23 to ₹12.72. During the last trading day the stock fluctuated 6.88% from a day low at ₹12.65 to a day high of ₹13.52. The price has risen in 6 of the last 10 days and is up by 6.8% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -13 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₹129.66 thousand.
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 -7.21% during the next 3 months and, with a 90% probability hold a price between ₹10.45 and ₹12.26 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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NORBTEAEXP.NS Signals & Forecast
The Norben Tea & Exports 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 ₹12.67 and ₹12.27. 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). 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 Tuesday, June 25, 2024, and so far it has fallen -3.85%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Norben Tea & Exports Limited stock
Norben Tea & Exports Limited finds support from accumulated volume at ₹12.55 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 ₹0.87 between high and low, or 6.88%. For the last week the stock has had daily average volatility of 4.95%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NORBTEAEXP.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Norben Tea & Exports Limited to open at ₹12.96, and during the day (based on 14 day Average True Range), to move between ₹12.06 and ₹13.38, which gives a possible trading interval of +/-₹0.657 (+/-5.17%) up or down from last closing price. If Norben Tea & Exports Limited takes out the full calculated possible swing range there will be an estimated 10.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹12.85 (1.02%) than the support at ₹12.55 (1.34%), 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 Norben Tea & Exports Limited stock A Buy?
Norben Tea & Exports 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 Buy to a Sell candidate.
Current score: -1.123 Sell Candidate Downgraded
Predicted Opening Price for Norben Tea & Exports Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹12.96 ( 1.91%) | ₹12.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NORBTEAEXP.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.83 | 8.75% |
| R2 | 13.50 | 6.14% |
| R1 | 13.30 | 4.53% |
| Price | 12.72 | |
| S1 | 12.63 | -0.700% |
| S2 | 12.43 | -2.31% |
| S3 | 12.09 | -4.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.45 | 5.74% |
| R2 | 13.23 | 4.01% |
| R1 | 12.85 | 1.02% |
| Price | 12.72 | |
| S1 | 12.55 | -1.34% |
| S2 | 12.39 | -2.59% |
| S3 | 12.30 | -3.30% |
NORBTEAEXP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 1998 | Jul 29, 1998 | Sep 01, 1998 | ₹0.500 | 0% |
| 2 | Aug 11, 1997 | Aug 11, 1997 | Oct 01, 1997 | ₹0.450 | 0% |
| 3 | Aug 03, 1996 | Aug 21, 1996 | Oct 01, 1996 | ₹0.600 | 0% |
FAQ
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