Rane Engine Valve Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Rane Engine Valve Limited stock upgraded to Strong Buy Candidate.
(Updated on May 03, 2024)
The Rane Engine Valve Limited stock price gained 5.00% on the last trading day (Friday, 3rd May 2024), rising from ₹368.30 to ₹386.70. During the last trading day the stock fluctuated 5.35% from a day low at ₹367.05 to a day high of ₹386.70. The price has risen in 5 of the last 10 days and is up by 5.96% 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, 70 thousand more shares were traded than the day before. In total, 74 thousand shares were bought and sold for approximately ₹28.50 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹395.54 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.17% during the next 3 months and, with a 90% probability hold a price between ₹252.16 and ₹351.37 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RANEENGINE.NS Signals & Forecast
Mostly positive signals in the chart today. The Rane Engine Valve 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 ₹374.56 and ₹345.76. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 27.31%. 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 Rane Engine Valve Limited stock
Rane Engine Valve Limited finds support from accumulated volume at ₹382.70 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 ₹19.65 between high and low, or 5.35%. For the last week, the stock has had daily average volatility of 3.53%.
Our recommended stop-loss: ₹372.93 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (RANEENGINE.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Rane Engine Valve Limited to open at ₹380.15, and during the day (based on 14 day Average True Range), to move between ₹370.66 and ₹402.74, which gives a possible trading interval of +/-₹16.04 (+/-4.15%) up or down from last closing price. If Rane Engine Valve Limited takes out the full calculated possible swing range there will be an estimated 8.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹388.60 (0.49%) than the support at ₹382.70 (1.03%), 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.
Earnings coming up
Rane Engine Valve Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Rane Engine Valve Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.73% in the first trading day after earnings release.
Is Rane Engine Valve Limited stock A Buy?
Rane Engine Valve Limited holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect Rane Engine Valve Limited stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.016 Strong Buy Candidate Upgraded
Predicted Opening Price for Rane Engine Valve Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹380.15 ( 1.69%) | ₹386.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RANEENGINE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 399.80 | 3.39 % | |
| R2 | 392.29 | 1.45 % | ||
| R1 | 387.66 | 0.247 % | ||
| Current price: | 386.70 | |||
| Support | S1 | 372.64 | -3.63 % | |
| S2 | 368.01 | -4.83 % | ||
| S3 | 360.50 | -6.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 436.50 | 12.88 % | |
| R2 | 419.85 | 8.57 % | ||
| R1 | 388.60 | 0.491 % | ||
| Current price | 386.70 | |||
| Support | S1 | 382.70 | -1.03% | |
| S2 | 364.95 | -5.62% | ||
| S3 | 303.75 | -21.45% |
RANEENGINE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 18, 2017 | Aug 11, 2017 | Aug 28, 2017 | ₹2.50 | 0.443% |
| 2 | May 22, 2015 | Jul 10, 2015 | Jul 28, 2015 | ₹2.50 | 0.488% |
| 3 | May 21, 2012 | Jul 12, 2012 | Jul 30, 2012 | ₹3.00 | 1.65% |
| 4 | Jan 24, 2012 | Feb 06, 2012 | Feb 23, 2012 | ₹7.50 | 3.71% |
| 5 | May 19, 2011 | Jul 14, 2011 | Jul 27, 2011 | ₹2.00 | 0.87% |
FAQ
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