Pearl Global Industries Limited Stock Forecast
Pearl Global Industries Limited stock price ended at ₹643.00 on Friday, after gaining 0.320%.
(Updated on May 24, 2024)
The Pearl Global Industries Limited stock price gained 0.320% on the last trading day (Friday, 24th May 2024), rising from ₹640.95 to ₹643.00. During the last trading day the stock fluctuated 2.85% from a day low at ₹630.00 to a day high of ₹647.95. The price has risen in 7 of the last 10 days and is up by 5.87% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 13 thousand shares were bought and sold for approximately ₹8.34 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 has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₹642.66 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₹756.59 sometime during the next 3 months.
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PGIL.NS Signals & Forecast
The Pearl Global Industries 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 ₹634.33 and ₹601.13. 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 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. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.0078%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pearl Global Industries Limited stock
Pearl Global Industries Limited finds support from accumulated volume at ₹612.00 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 ₹17.95 between high and low, or 2.85%. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: ₹623.43 (-3.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (PGIL.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Pearl Global Industries Limited to open at ₹640.32, and during the day (based on 14 day Average True Range), to move between ₹618.09 and ₹667.91, which gives a possible trading interval of +/-₹24.91 (+/-3.87%) up or down from last closing price. If Pearl Global Industries Limited takes out the full calculated possible swing range there will be an estimated 7.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹643.05 (0.01%) than the support at ₹612.00 (4.82%), 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 Pearl Global Industries Limited stock A Buy?
Pearl Global Industries 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: 0.129 Hold/Accumulate Unchanged
Predicted Opening Price for Pearl Global Industries Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹640.32 ( 0.417%) | ₹643.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 658.27 | 2.37 % | |
| R2 | 651.41 | 1.31 % | ||
| R1 | 647.17 | 0.649 % | ||
| Current price: | 643.00 | |||
| Support | S1 | 633.46 | -1.48 % | |
| S2 | 629.22 | -2.14 % | ||
| S3 | 622.37 | -3.21 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 672.85 | 4.64 % | |
| R2 | 670.85 | 4.33 % | ||
| R1 | 643.05 | 0.0078 % | ||
| Current price | 643.00 | |||
| Support | S1 | 612.00 | -4.82% | |
| S2 | 593.80 | -7.65% | ||
| S3 | 541.95 | -15.72% |
PGIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 22, 2023 | Nov 22, 2023 | Nov 22, 2023 | ₹12.50 | 1.97% |
| 2 | May 26, 2023 | May 26, 2023 | May 26, 2023 | ₹5.00 | 1.98% |
| 3 | Nov 22, 2022 | Nov 22, 2022 | Nov 22, 2022 | ₹2.50 | 1.24% |
| 4 | Jun 07, 2022 | Jun 07, 2022 | Jun 07, 2022 | ₹5.00 | 2.37% |
| 5 | May 28, 2019 | Sep 16, 2019 | Oct 23, 2019 | ₹3.00 | 3.94% |
FAQ
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