Pioneer Investcorp Limited Stock Forecast
Pioneer Investcorp Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Pioneer Investcorp Limited stock price gained 4.17% on the last trading day (Friday, 26th Apr 2024), rising from ₹49.86 to ₹51.94. During the last trading day the stock fluctuated 4.70% from a day low at ₹50.00 to a day high of ₹52.35. The price has risen in 7 of the last 10 days and is up by 10.39% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 9 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately ₹612.11 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 27.14% during the next 3 months and, with a 90% probability hold a price between ₹55.61 and ₹70.19 at the end of this 3-month period.
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PIONRINV.BO Signals & Forecast
The Pioneer Investcorp 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 ₹51.32 and ₹46.51. 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). Pioneer Investcorp Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 15, 2024, and so far it has fallen -3.06%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Pioneer Investcorp Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹43.24 and ₹39.61. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Pioneer Investcorp Limited finds support just below today's level at ₹43.24. If this is broken, then the next support from accumulated volume will be at ₹39.61 and ₹39.00.
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 ₹2.35 between high and low, or 4.70%. For the last week, the stock has had daily average volatility of 6.99%.
Our recommended stop-loss: ₹49.61 (-4.49%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (PIONRINV.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Pioneer Investcorp Limited to open at ₹51.43, and during the day (based on 14 day Average True Range), to move between ₹48.61 and ₹55.27, which gives a possible trading interval of +/-₹3.33 (+/-6.42%) up or down from last closing price. If Pioneer Investcorp Limited takes out the full calculated possible swing range there will be an estimated 12.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹52.98 (2.00%) than the support at ₹43.24 (16.75%), 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 Pioneer Investcorp Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Pioneer Investcorp Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.233 Buy Candidate Upgraded
Predicted Opening Price for Pioneer Investcorp Limited of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
₹51.43 ( 0.98%) | ₹51.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PIONRINV.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 53.78 | 3.54 % | |
R2 | 52.88 | 1.81 % | ||
R1 | 52.33 | 0.746 % | ||
Current price: | 51.94 | |||
Support | S1 | 50.53 | -2.71 % | |
S2 | 49.98 | -3.78 % | ||
S3 | 49.08 | -5.51 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 53.58 | 3.16 % | ||
R1 | 52.98 | 2.00 % | ||
Current price | 51.94 | |||
Support | S1 | 43.24 | -16.75% | |
S2 | 39.61 | -23.74% | ||
S3 | 39.00 | -24.91% |
FAQ
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