Prakash Steelage Limited Stock Forecast
Stronger technical forecast for Prakash Steelage Limited stock price after Tuesday trading.
(Updated on Jun 25, 2024)
The Prakash Steelage Limited stock price gained 1.89% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹8.99 to ₹9.16. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0% from a day low at ₹9.16 to a day high of ₹9.16. The price has risen in 7 of the last 10 days and is up by 8.53% 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, 58 thousand more shares were traded than the day before. In total, 201 thousand shares were bought and sold for approximately ₹1.84 million.
The stock lies in the middle of a very wide and weak 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 6.52% during the next 3 months and, with a 90% probability hold a price between ₹8.13 and ₹11.07 at the end of this 3-month period.
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PRAKASHSTL.BO Signals & Forecast
Mostly positive signals in the chart today. The Prakash Steelage 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 ₹8.97 and ₹8.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 12.81%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Prakash Steelage Limited stock
Prakash Steelage Limited finds support from accumulated volume at ₹8.86 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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: ₹8.74 (-4.58%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (PRAKASHSTL.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Prakash Steelage Limited to open at ₹9.16, and during the day (based on 14 day Average True Range), to move between ₹8.97 and ₹9.35, which gives a possible trading interval of +/-₹0.193 (+/-2.10%) up or down from last closing price. If Prakash Steelage Limited takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹9.30 (1.53%) than the support at ₹8.86 (3.28%), 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 Prakash Steelage Limited stock A Buy?
Prakash Steelage Limited holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.902 Strong Buy Candidate Upgraded
Predicted Opening Price for Prakash Steelage Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹9.16 ( 0%) | ₹9.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRAKASHSTL.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 9.16 | - |
R2 | 9.16 | - |
R1 | 9.16 | - |
Price | 9.16 | |
S1 | 9.16 | - |
S2 | 9.16 | - |
S3 | 9.16 | - |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.13 | 10.59% |
R2 | 9.31 | 1.64% |
R1 | 9.30 | 1.53% |
Price | 9.16 | |
S1 | 8.86 | -3.28% |
S2 | 8.50 | -7.21% |
S3 | 7.67 | -16.27% |
PRAKASHSTL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 21, 2015 | Sep 21, 2015 | Sep 21, 2015 | ₹0.500 | 3.89% |
2 | Sep 11, 2014 | Sep 11, 2014 | Sep 11, 2014 | ₹1.00 | 8.69% |
3 | Aug 07, 2013 | Aug 07, 2013 | Aug 07, 2013 | ₹1.00 | 11.40% |
4 | Aug 07, 2012 | Aug 07, 2012 | Aug 07, 2012 | ₹1.00 | 6.18% |
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