PTC India Financial Services Limited Stock Forecast
Green day on Friday for PTC India Financial Services Limited
(Updated on May 10, 2024)
The PTC India Financial Services Limited stock price gained 0.251% on the last trading day (Friday, 10th May 2024), rising from ₹39.77 to ₹39.87. During the last trading day the stock fluctuated 2.92% from a day low at ₹39.40 to a day high of ₹40.55. The price has risen in 6 of the last 10 days but is still down by -1.41% for this period. Volume fell on the last day by -104 thousand shares and in total, 114 thousand shares were bought and sold for approximately ₹4.56 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -11.23% during the next 3 months and, with a 90% probability hold a price between ₹26.66 and ₹39.04 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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PFS.BO Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PTC India Financial Services Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹41.89 and ₹39.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -10.34%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for PTC India Financial Services Limited stock
PTC India Financial Services Limited 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 ₹1.15 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 6.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PFS.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect PTC India Financial Services Limited to open at ₹39.94, and during the day (based on 14 day Average True Range), to move between ₹37.70 and ₹42.04, which gives a possible trading interval of +/-₹2.17 (+/-5.45%) up or down from last closing price. If PTC India Financial Services Limited takes out the full calculated possible swing range there will be an estimated 10.89% 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 (4.06%) than the resistance at ₹44.43 (11.44%), 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
PTC India Financial Services Limited will release earnings BMO on Saturday, May 11, 2024. We will update the financials statements for PTC India Financial Services Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.16% in the first trading day after earnings release.
Is PTC India Financial Services Limited stock A Buy?
PTC India Financial Services Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.520 Strong Sell Candidate Unchanged
Predicted Opening Price for PTC India Financial Services Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹39.94 ( 0.176%) | ₹39.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.09 | 3.06 % | |
| R2 | 40.65 | 1.96 % | ||
| R1 | 40.38 | 1.28 % | ||
| Current price: | 39.87 | |||
| Support | S1 | 39.50 | -0.93 % | |
| S2 | 39.23 | -1.61 % | ||
| S3 | 38.79 | -2.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 48.46 | 21.55 % | |
| R2 | 46.57 | 16.80 % | ||
| R1 | 44.43 | 11.44 % | ||
| Current price | 39.87 | |||
| Support | S1 | 38.25 | -4.06% | |
| S2 | 35.99 | -9.73% | ||
| S3 | 33.71 | -15.45% |
FAQ
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