Premier Limited Stock Forecast
Premier Limited stock downgraded to Buy Candidate
(Updated on Jun 25, 2024)
The Premier Limited stock price fell by -3.77% on the last day (Tuesday, 25th Jun 2024) from ₹3.98 to ₹3.83. During the last trading day the stock fluctuated 9.79% from a day low at ₹3.78 to a day high of ₹4.15. The price has risen in 6 of the last 10 days and is up by 4.93% over the past 2 weeks. Volume has increased on the last day by 10 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 thousand shares were bought and sold for approximately ₹71.00 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 11.63% during the next 3 months and, with a 90% probability hold a price between ₹3.73 and ₹4.87 at the end of this 3-month period.
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PREMIER.NS Signals & Forecast
The Premier 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 ₹3.79 and ₹3.69. 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). 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 Friday, May 03, 2024, and so far it has fallen -6.59%. Further fall is indicated until a new bottom pivot has been found. Premier Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Premier Limited stock
Premier Limited finds support from accumulated volume at ₹3.80 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 ₹0.370 between high and low, or 9.79%. For the last week, the stock has had daily average volatility of 8.17%.
Our recommended stop-loss: ₹3.64 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 36 days ago.)
Trading Expectations (PREMIER.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Premier Limited to open at ₹3.92, and during the day (based on 14 day Average True Range), to move between ₹3.61 and ₹4.05, which gives a possible trading interval of +/-₹0.223 (+/-5.83%) up or down from last closing price. If Premier Limited takes out the full calculated possible swing range there will be an estimated 11.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3.86 (0.78%) than the support at ₹3.80 (0.78%), 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 Premier 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 Premier Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.135 Buy Candidate Downgraded
Predicted Opening Price for Premier Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹3.92 ( 2.35%) | ₹3.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PREMIER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.29 | 12.01% |
| R2 | 4.15 | 8.32% |
| R1 | 4.06 | 6.04% |
| Price | 3.83 | |
| S1 | 3.78 | -1.34% |
| S2 | 3.69 | -3.62% |
| S3 | 3.55 | -7.31% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.10 | 7.05% |
| R2 | 3.95 | 3.13% |
| R1 | 3.86 | 0.783% |
| Price | 3.83 | |
| S1 | 3.80 | -0.783% |
| S2 | 3.60 | -6.01% |
| S3 | 3.45 | -9.92% |
PREMIER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2014 | Aug 28, 2014 | Oct 12, 2014 | ₹3.00 | 4.72% |
| 2 | Apr 30, 2013 | May 31, 2013 | Jul 14, 2013 | ₹4.00 | 6.67% |
| 3 | Apr 25, 2012 | Aug 10, 2012 | Sep 23, 2012 | ₹3.00 | 4.44% |
| 4 | Apr 21, 2011 | May 30, 2011 | Jul 11, 2011 | ₹2.70 | 2.97% |
| 5 | Apr 29, 2010 | Aug 18, 2010 | Sep 29, 2010 | ₹2.70 | 2.07% |
FAQ
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