Power Finance Corporation Limited Stock Forecast
Power Finance Corporation Limited stock price ended at ₹417.75 on Friday, after losing 0.0598%.
(Updated on May 10, 2024)
The Power Finance Corporation Limited stock price fell by -0.0598% on the last day (Friday, 10th May 2024) from ₹418.00 to ₹417.75. During the last trading day the stock fluctuated 4.29% from a day low at ₹407.70 to a day high of ₹425.20. The price has been going up and down for this period, and there has been a 2.67% gain for the last 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 -272 thousand shares and in total, 839 thousand shares were bought and sold for approximately ₹350.36 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Power Finance Corporation Limited stock with a 90% probability to be traded between ₹367.18 and ₹485.35 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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PFC.BO Signals & Forecast
The Power Finance Corporation Limited 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 ₹440.61. On a fall, the stock will find some support from the long-term average at approximately ₹407.03. 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). 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 Friday, May 03, 2024, and so far it has fallen -13.05%. Further fall is indicated until a new bottom pivot has been found. 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 Power Finance Corporation Limited stock
Power Finance Corporation Limited finds support from accumulated volume at ₹412.35 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 ₹17.50 between high and low, or 4.29%. For the last week, the stock has had daily average volatility of 6.06%.
Our recommended stop-loss: ₹393.10 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (PFC.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Power Finance Corporation Limited to open at ₹416.88, and during the day (based on 14 day Average True Range), to move between ₹397.38 and ₹438.12, which gives a possible trading interval of +/-₹20.37 (+/-4.88%) up or down from last closing price. If Power Finance Corporation Limited takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹412.35 (1.29%) than the resistance at ₹437.55 (4.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Power Finance Corporation Limited will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for Power Finance Corporation Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.77% in the first trading day after earnings release.
Is Power Finance Corporation Limited stock A Buy?
Power Finance Corporation 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: 0.404 Hold/Accumulate Unchanged
Predicted Opening Price for Power Finance Corporation Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹416.88 ( 0.207%) | ₹417.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFC.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 434.38 | 3.98 % | |
| R2 | 427.70 | 2.38 % | ||
| R1 | 423.57 | 1.39 % | ||
| Current price: | 417.75 | |||
| Support | S1 | 410.20 | -1.81 % | |
| S2 | 406.07 | -2.80 % | ||
| S3 | 399.38 | -4.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 480.45 | 15.01 % | |
| R2 | 441.40 | 5.66 % | ||
| R1 | 437.55 | 4.74 % | ||
| Current price | 417.75 | |||
| Support | S1 | 412.35 | -1.29% | |
| S2 | 385.25 | -7.78% | ||
| S3 | 380.95 | -8.81% |
FAQ
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