Prestige Estates Projects Limited Stock Forecast
Green day on Friday for Prestige Estates Projects Limited stock after gaining 3.76%
(Updated on May 03, 2024)
The Prestige Estates Projects Limited stock price gained 3.76% on the last trading day (Friday, 3rd May 2024), rising from ₹1,405.90 to ₹1,458.75. 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 5.61% from a day low at ₹1,399.55 to a day high of ₹1,478.00. The price has risen in 8 of the last 10 days and is up by 19.08% 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, 229 thousand more shares were traded than the day before. In total, 288 thousand shares were bought and sold for approximately ₹420.83 million.
Given the current short-term trend, the stock is expected to rise 11.85% during the next 3 months and, with a 90% probability hold a price between ₹1,192.53 and ₹1,631.59 at the end of this 3-month period.
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PRESTIGE.BO Signals & Forecast
The Prestige Estates Projects 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 ₹1,363.91 and ₹1,217.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 19, 2024, and so far it has risen 46.90%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Prestige Estates Projects Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,305.25 and ₹1,218.55. 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, Prestige Estates Projects Limited finds support just below today's level at ₹1,305.25. If this is broken, then the next support from accumulated volume will be at ₹1,218.55 and ₹1,126.85.
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 ₹78.45 between high and low, or 5.61%. For the last week, the stock has had daily average volatility of 4.88%.
Our recommended stop-loss: ₹1,407.40 (-3.52%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 27 days ago.)
Trading Expectations (PRESTIGE.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Prestige Estates Projects Limited to open at ₹1,445.43, and during the day (based on 14 day Average True Range), to move between ₹1,399.17 and ₹1,518.33, which gives a possible trading interval of +/-₹59.58 (+/-4.08%) up or down from last closing price. If Prestige Estates Projects Limited takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,305.25, some ₹153.50 (10.52%) from the current price of ₹1,458.75, our system finds the risk reward attractive.
Earnings coming up
Prestige Estates Projects Limited will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Prestige Estates Projects Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.40% in the first trading day after earnings release.
Is Prestige Estates Projects Limited stock A Buy?
Prestige Estates Projects Limited holds several positive signals and is within a strong 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.
Current score: 7.249 Strong Buy Candidate Unchanged
Predicted Opening Price for Prestige Estates Projects Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹1,445.43 ( 0.91%) | ₹1,458.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRESTIGE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,523.88 | 4.47 % | |
| R2 | 1,493.92 | 2.41 % | ||
| R1 | 1,475.40 | 1.14 % | ||
| Current price: | 1,458.75 | |||
| Support | S1 | 1,415.47 | -2.97 % | |
| S2 | 1,396.95 | -4.24 % | ||
| S3 | 1,366.98 | -6.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,458.75 | |||
| Support | S1 | 1,305.25 | -10.52% | |
| S2 | 1,218.55 | -16.47% | ||
| S3 | 1,126.85 | -22.75% |
FAQ
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