Rainbow Children's Medicare Limited Stock Forecast
Red day on Friday for Rainbow Children's Medicare Limited
(Updated on Jun 28, 2024)
The Rainbow Children's Medicare Limited stock price fell by -1.19% on the last day (Friday, 28th Jun 2024) from ₹1,261.50 to ₹1,246.50. During the last trading day the stock fluctuated 2.93% from a day low at ₹1,242.65 to a day high of ₹1,279.00. The price has been going up and down for this period, and there has been a -4.75% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹9.28 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹1,198.83 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.02% during the next 3 months and, with a 90% probability hold a price between ₹1,126.66 and ₹1,429.40 at the end of this 3-month period.
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RAINBOW.BO Signals & Forecast
There are mixed signals in the stock today. The Rainbow Children's Medicare Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,273.39 and ₹1,298.02. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 1.23%. 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).
Support, Risk & Stop-loss for Rainbow Children's Medicare Limited stock
Rainbow Children's Medicare Limited finds support from accumulated volume at ₹1,242.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹36.35 between high and low, or 2.93%. For the last week the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RAINBOW.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Rainbow Children's Medicare Limited to open at ₹1,256.05, and during the day (based on 14 day Average True Range), to move between ₹1,202.41 and ₹1,290.59, which gives a possible trading interval of +/-₹44.09 (+/-3.54%) up or down from last closing price. If Rainbow Children's Medicare Limited takes out the full calculated possible swing range there will be an estimated 7.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,242.05 (0.36%) than the resistance at ₹1,302.25 (4.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rainbow Children's Medicare Limited stock A Buy?
Rainbow Children's Medicare Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.038 Sell Candidate Unchanged
Predicted Opening Price for Rainbow Children's Medicare Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,256.05 ( 0.766%) | ₹1,246.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RAINBOW.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,292.40 | 3.68% |
| R2 | 1,278.51 | 2.57% |
| R1 | 1,269.94 | 1.88% |
| Price | 1,246.50 | |
| S1 | 1,242.16 | -0.348% |
| S2 | 1,233.59 | -1.04% |
| S3 | 1,219.70 | -2.15% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,448.15 | 16.18% |
| R2 | 1,400.75 | 12.37% |
| R1 | 1,302.25 | 4.47% |
| Price | 1,246.50 | |
| S1 | 1,242.05 | -0.357% |
| S2 | 1,231.30 | -1.22% |
| S3 | 0 | - |
RAINBOW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 23, 2024 | Jul 23, 2024 | Aug 29, 2024 | ₹3.00 | 0.241% |
| 2 | Jun 22, 2023 | Jun 22, 2023 | Jul 29, 2023 | ₹3.00 | 0.275% |
FAQ
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