Patel Integrated Logistics Limited Stock Forecast
Patel Integrated Logistics Limited stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Patel Integrated Logistics Limited stock price gained 2.90% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹22.74 to ₹23.40. During the last trading day the stock fluctuated 6.67% from a day low at ₹22.50 to a day high of ₹24.00. The price has been going up and down for this period, and there has been a 7.93% 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, 537 thousand more shares were traded than the day before. In total, 851 thousand shares were bought and sold for approximately ₹19.92 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹23.75 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Patel Integrated Logistics Limited stock with a 90% probability to be traded between ₹18.94 and ₹23.89 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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PATINTLOG.NS Signals & Forecast
The Patel Integrated Logistics 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 ₹23.06 and ₹21.46. 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). 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 Wednesday, June 19, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Patel Integrated Logistics Limited stock
Patel Integrated Logistics Limited finds support from accumulated volume at ₹22.95 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 ₹1.50 between high and low, or 6.67%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: ₹22.54 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (PATINTLOG.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Patel Integrated Logistics Limited to open at ₹23.30, and during the day (based on 14 day Average True Range), to move between ₹22.23 and ₹24.57, which gives a possible trading interval of +/-₹1.17 (+/-5.00%) up or down from last closing price. If Patel Integrated Logistics Limited takes out the full calculated possible swing range there will be an estimated 10.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹23.63 (0.98%) than the support at ₹22.95 (1.92%), 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 Patel Integrated Logistics Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Patel Integrated Logistics Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.593 Buy Candidate Upgraded
Predicted Opening Price for Patel Integrated Logistics Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹23.30 ( 0.427%) | ₹23.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PATINTLOG.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.80 | 5.98% |
| R2 | 24.23 | 3.53% |
| R1 | 23.87 | 2.02% |
| Price | 23.40 | |
| S1 | 22.73 | -2.88% |
| S2 | 22.37 | -4.39% |
| S3 | 21.80 | -6.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 23.74 | 1.45% |
| R1 | 23.63 | 0.98% |
| Price | 23.40 | |
| S1 | 22.95 | -1.92% |
| S2 | 22.35 | -4.49% |
| S3 | 21.25 | -9.19% |
PATINTLOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 01, 2023 | Sep 01, 2023 | Oct 08, 2023 | ₹0.100 | 0.676% |
| 2 | Aug 11, 2022 | Aug 11, 2022 | Aug 11, 2022 | ₹0.100 | 0.669% |
| 3 | Jul 23, 2021 | Jul 23, 2021 | Jul 23, 2021 | ₹0.0612 | 0.247% |
| 4 | Sep 21, 2020 | Sep 21, 2020 | Sep 21, 2020 | ₹0.0460 | 0.267% |
| 5 | May 16, 2019 | Sep 18, 2019 | Oct 26, 2019 | ₹0.230 | 1.09% |
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