Premco Global Limited Stock Forecast
Big movements in Premco Global Limited stock price on Tuesday moving 19.95% between high and low
(Updated on Jun 25, 2024)
The Premco Global Limited stock price gained 19.97% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹448.90 to ₹538.55. During the last trading day the stock fluctuated 19.95% from a day low at ₹449.05 to a day high of ₹538.65. The price has risen in 6 of the last 10 days and is up by 28.96% 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, 50 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately ₹28.31 million.
The stock has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹491.59, a level that may pose a second chance to hit a runner. According to fan-theory ₹602.89 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PREMCO.BO Signals & Forecast
Mostly positive signals in the chart today. The Premco Global 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 ₹464.78 and ₹424.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 19.97%. 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. The stock had a Golden Star Signal on Monday, April 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, June 11, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, April 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, June 11, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, April 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, June 11, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Premco Global Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹489.60 and ₹452.20. 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, Premco Global Limited finds support just below today's level at ₹489.60. If this is broken, then the next support from accumulated volume will be at ₹452.20 and ₹441.70.
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 ₹89.60 between high and low, or 19.95%. For the last week, the stock has had daily average volatility of 11.59%.
The Premco Global Limited stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹520.45 (-3.36%) (This stock has high daily movements and this gives high risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (PREMCO.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Premco Global Limited to open at ₹508.75, and during the day (based on 14 day Average True Range), to move between ₹508.07 and ₹569.03, which gives a possible trading interval of +/-₹30.48 (+/-5.66%) up or down from last closing price. If Premco Global Limited takes out the full calculated possible swing range there will be an estimated 11.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹489.60, some ₹48.95 (9.09%) from the current price of ₹538.55, our system finds the risk reward attractive.
Is Premco Global Limited stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Premco Global Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.125 Strong Buy Candidate Upgraded
Predicted Opening Price for Premco Global Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹508.75 ( 5.53%) | ₹538.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PREMCO.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 598.35 | 11.10% |
R2 | 564.12 | 4.75% |
R1 | 542.98 | 0.82% |
Price | 538.55 | |
S1 | 474.52 | -11.89% |
S2 | 453.38 | -15.82% |
S3 | 419.15 | -22.17% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 538.55 | |
S1 | 489.60 | -9.09% |
S2 | 452.20 | -16.03% |
S3 | 441.70 | -17.98% |
PREMCO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Feb 21, 2024 | Feb 21, 2024 | ₹2.00 | 0.495% |
2 | Nov 23, 2023 | Nov 23, 2023 | Dec 05, 2023 | ₹3.00 | 0.700% |
3 | Sep 15, 2023 | Sep 15, 2023 | Oct 25, 2023 | ₹5.00 | 1.26% |
4 | Aug 14, 2023 | Aug 14, 2023 | Sep 02, 2023 | ₹3.00 | 0.676% |
5 | Feb 23, 2023 | Feb 23, 2023 | Mar 09, 2023 | ₹6.00 | 1.69% |
FAQ
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