PC Jeweller Limited Stock Forecast
Red day on Friday for PC Jeweller Limited stock after losing 1.23%
(Updated on May 03, 2024)
The PC Jeweller Limited stock price fell by -1.23% on the last day (Friday, 3rd May 2024) from ₹52.80 to ₹52.15. During the last trading day the stock fluctuated 2.02% from a day low at ₹52.00 to a day high of ₹53.05. The price has fallen in 5 of the last 10 days and is down by -3.16% for this period. 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 -2 million shares and in total, 833 thousand shares were bought and sold for approximately ₹43.45 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹50.24 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PC Jeweller Limited stock with a 90% probability to be traded between ₹49.68 and ₹64.29 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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PCJEWELLER.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 3.68%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PC Jeweller 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 ₹55.86. On a fall, the stock will find some support from the short-term average at ₹52.01. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for PC Jeweller Limited stock
PC Jeweller Limited finds support from accumulated volume at ₹51.60 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 ₹1.05 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 2.58%.
Our recommended stop-loss: ₹49.48 (-5.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PCJEWELLER.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PC Jeweller Limited to open at ₹52.40, and during the day (based on 14 day Average True Range), to move between ₹49.93 and ₹54.37, which gives a possible trading interval of +/-₹2.22 (+/-4.25%) up or down from last closing price. If PC Jeweller Limited takes out the full calculated possible swing range there will be an estimated 8.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹51.60 (1.05%) than the resistance at ₹53.85 (3.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PC Jeweller Limited stock A Buy?
PC Jeweller Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.138 Hold/Accumulate Unchanged
Predicted Opening Price for PC Jeweller Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹52.40 ( 0.479%) | ₹52.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCJEWELLER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 53.45 | 2.49 % | |
| R2 | 53.05 | 1.72 % | ||
| R1 | 52.80 | 1.25 % | ||
| Current price: | 52.15 | |||
| Support | S1 | 52.00 | -0.290 % | |
| S2 | 51.75 | -0.765 % | ||
| S3 | 51.35 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.25 | 19.37 % | |
| R2 | 60.60 | 16.20 % | ||
| R1 | 53.85 | 3.26 % | ||
| Current price | 52.15 | |||
| Support | S1 | 51.60 | -1.05% | |
| S2 | 50.30 | -3.55% | ||
| S3 | 48.10 | -7.77% |
PCJEWELLER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 25, 2018 | Sep 19, 2018 | Oct 29, 2018 | ₹0.500 | 0.99% |
| 2 | May 25, 2017 | Jun 21, 2017 | Aug 01, 2017 | ₹0.500 | 0.199% |
| 3 | May 30, 2016 | Sep 09, 2016 | Oct 19, 2016 | ₹1.68 | 0.665% |
| 4 | May 15, 2015 | Sep 10, 2015 | Oct 19, 2015 | ₹1.60 | 0.751% |
| 5 | May 22, 2014 | Sep 04, 2014 | Oct 13, 2014 | ₹0.750 | 0.718% |
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