Oricon Enterprises Ltd Stock Forecast
Stronger technical forecast for Oricon Enterprises Ltd stock price after Friday trading.
(Updated on Jun 14, 2024)
The Oricon Enterprises Ltd stock price gained 3.17% on the last trading day (Friday, 14th Jun 2024), rising from ₹37.24 to ₹38.42. During the last trading day the stock fluctuated 8.57% from a day low at ₹36.99 to a day high of ₹40.16. The price has risen in 6 of the last 10 days and is up by 7.77% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 791 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹41.85 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 -4.18% during the next 3 months and, with a 90% probability hold a price between ₹31.28 and ₹43.25 at the end of this 3-month period.
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ORICONENT.NS Signals & Forecast
Mostly positive signals in the chart today. The Oricon Enterprises Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹37.15 and ₹37.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.78%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Oricon Enterprises Ltd stock
Oricon Enterprises Ltd finds support from accumulated volume at ₹38.25 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 ₹3.17 between high and low, or 8.57%. For the last week, the stock has had daily average volatility of 5.35%.
Our recommended stop-loss: ₹36.94 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (ORICONENT.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Oricon Enterprises Ltd to open at ₹38.52, and during the day (based on 14 day Average True Range), to move between ₹36.43 and ₹40.41, which gives a possible trading interval of +/-₹1.99 (+/-5.18%) up or down from last closing price. If Oricon Enterprises Ltd takes out the full calculated possible swing range there will be an estimated 10.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹38.25 (0.44%) than the resistance at ₹43.40 (12.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oricon Enterprises Ltd 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 Hold/Accumulate to a Buy candidate.
Current score: 4.245 Buy Candidate Upgraded
Predicted Opening Price for Oricon Enterprises Ltd of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹38.52 ( 0.269%) | ₹38.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORICONENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 41.69 | 8.52% |
| R2 | 40.48 | 5.37% |
| R1 | 39.73 | 3.42% |
| Price | 38.42 | |
| S1 | 37.31 | -2.88% |
| S2 | 36.56 | -4.83% |
| S3 | 35.35 | -7.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 46.60 | 21.29% |
| R2 | 43.45 | 13.09% |
| R1 | 43.40 | 12.96% |
| Price | 38.42 | |
| S1 | 38.25 | -0.442% |
| S2 | 38.10 | -0.83% |
| S3 | 37.50 | -2.39% |
ORICONENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 13, 2023 | Sep 13, 2023 | Oct 21, 2023 | ₹0.500 | 1.51% |
| 2 | Sep 19, 2022 | Sep 19, 2022 | Sep 19, 2022 | ₹1.00 | 3.09% |
| 3 | Sep 09, 2021 | Sep 09, 2021 | Sep 09, 2021 | ₹0.500 | 1.60% |
| 4 | Mar 11, 2020 | Mar 19, 2020 | Mar 31, 2020 | ₹0.300 | 3.14% |
| 5 | May 25, 2019 | Sep 06, 2019 | Sep 21, 2019 | ₹0.500 | 2.25% |
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