PNB Housing Finance Limited Stock Forecast
Green day on Tuesday for PNB Housing Finance Limited stock after gaining 0.390%
(Updated on Apr 23, 2024)
The PNB Housing Finance Limited stock price gained 0.390% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹769.60 to ₹772.60. During the last trading day the stock fluctuated 2.12% from a day low at ₹762.85 to a day high of ₹779.00. The price has risen in 6 of the last 10 days and is up by 0.31% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 14 thousand shares were bought and sold for approximately ₹11.20 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.
Given the current short-term trend, the stock is expected to fall -10.88% during the next 3 months and, with a 90% probability hold a price between ₹510.56 and ₹688.51 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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PNBHOUSING.BO Signals & Forecast
Mostly positive signals in the chart today. The PNB Housing Finance 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 ₹759.37 and ₹699.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 26.11%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for PNB Housing Finance Limited stock
PNB Housing Finance Limited finds support from accumulated volume at ₹770.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹16.15 between high and low, or 2.12%. For the last week, the stock has had daily average volatility of 4.37%.
The PNB Housing Finance Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹749.73 (-2.96%) (This stock has high daily movements and this gives high risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (PNBHOUSING.BO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PNB Housing Finance Limited to open at ₹771.48, and during the day (based on 14 day Average True Range), to move between ₹739.24 and ₹805.96, which gives a possible trading interval of +/-₹33.36 (+/-4.32%) up or down from last closing price. If PNB Housing Finance Limited takes out the full calculated possible swing range there will be an estimated 8.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹770.20 (0.31%) than the resistance at ₹793.05 (2.65%), 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
PNB Housing Finance Limited will release earnings BMO on Monday, April 29, 2024. We will update the financials statements for PNB Housing Finance Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 12.94% in the first trading day after earnings release.
Is PNB Housing Finance Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.977 Buy Candidate Unchanged
Predicted Opening Price for PNB Housing Finance Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹771.48 ( 0.145%) | ₹772.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNBHOUSING.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 787.63 | 1.95 % | |
| R2 | 781.46 | 1.15 % | ||
| R1 | 777.65 | 0.654 % | ||
| Current price: | 772.60 | |||
| Support | S1 | 765.31 | -0.94 % | |
| S2 | 761.50 | -1.44 % | ||
| S3 | 755.33 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 819.30 | 6.04 % | |
| R2 | 819.00 | 6.01 % | ||
| R1 | 793.05 | 2.65 % | ||
| Current price | 772.60 | |||
| Support | S1 | 770.20 | -0.311% | |
| S2 | 749.55 | -2.98% | ||
| S3 | 723.65 | -6.34% |
FAQ
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