PVP VENTURES LTD. Stock Forecast
Green day on Friday for PVP VENTURES LTD. stock after gaining 2.72%
(Updated on Jun 14, 2024)
The PVP VENTURES LTD. stock price gained 2.72% on the last trading day (Friday, 14th Jun 2024), rising from ₹28.70 to ₹29.48. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 6.58% from a day low at ₹28.27 to a day high of ₹30.13. The price has risen in 7 of the last 10 days and is up by 21.42% 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, 158 thousand more shares were traded than the day before. In total, 195 thousand shares were bought and sold for approximately ₹5.74 million.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹28.70, a level that may pose a second chance to hit a runner. According to fan-theory ₹37.72 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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PVP.BO Signals & Forecast
Mostly positive signals in the chart today. The PVP VENTURES LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹26.07 and ₹27.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 37.56%. 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 PVP VENTURES LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹27.34 and ₹24.28. 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, PVP VENTURES LTD. finds support just below today's level at ₹27.34. If this is broken, then the next support from accumulated volume will be at ₹24.28 and ₹23.07.
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 ₹1.86 between high and low, or 6.58%. For the last week, the stock has had daily average volatility of 1.84%.
Since the PVP VENTURES LTD. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹28.32 (-3.92%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (PVP.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect PVP VENTURES LTD. to open at ₹29.29, and during the day (based on 14 day Average True Range), to move between ₹27.93 and ₹31.03, which gives a possible trading interval of +/-₹1.55 (+/-5.26%) up or down from last closing price. If PVP VENTURES LTD. takes out the full calculated possible swing range there will be an estimated 10.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹31.05 (5.33%) than the support at ₹27.34 (7.26%), 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 PVP VENTURES LTD. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.285 Buy Candidate Unchanged
Predicted Opening Price for PVP VENTURES LTD. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹29.29 ( 0.633%) | ₹29.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PVP.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.15 | 5.68% |
| R2 | 30.44 | 3.27% |
| R1 | 30.00 | 1.78% |
| Price | 29.48 | |
| S1 | 28.58 | -3.04% |
| S2 | 28.14 | -4.53% |
| S3 | 27.43 | -6.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 35.55 | 20.59% |
| R2 | 31.52 | 6.92% |
| R1 | 31.05 | 5.33% |
| Price | 29.48 | |
| S1 | 27.34 | -7.26% |
| S2 | 24.28 | -17.64% |
| S3 | 23.07 | -21.74% |
PVP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2004 | Mar 19, 2004 | Mar 19, 2004 | ₹1.00 | 0.717% |
| 2 | Oct 29, 2002 | Oct 29, 2002 | Oct 29, 2002 | ₹2.00 | 2.36% |
| 3 | Sep 24, 2001 | Sep 24, 2001 | Sep 24, 2001 | ₹6.00 | 5.97% |
| 4 | Nov 01, 2000 | Nov 01, 2000 | Nov 01, 2000 | ₹4.00 | 0.170% |
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