Rasi Electrodes Limited Stock Forecast
Stronger technical forecast for Rasi Electrodes Limited stock price after Thursday trading.
(Updated on Jun 20, 2024)
The Rasi Electrodes Limited stock price gained 1.77% on the last trading day (Thursday, 20th Jun 2024), rising from ₹29.41 to ₹29.93. During the last trading day the stock fluctuated 6.35% from a day low at ₹29.15 to a day high of ₹31.00. The price has been going up and down for this period, and there has been a 10.89% gain for the last 2 weeks. Volume fell on the last day by -259 thousand shares and in total, 266 thousand shares were bought and sold for approximately ₹7.97 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 15.49% during the next 3 months and, with a 90% probability hold a price between ₹30.63 and ₹37.46 at the end of this 3-month period.
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RASIELEC.BO Signals & Forecast
Mostly positive signals in the chart today. The Rasi Electrodes 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 ₹28.74 and ₹27.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 16.32%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Rasi Electrodes Limited stock
Rasi Electrodes Limited finds support from accumulated volume at ₹29.41 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 ₹1.85 between high and low, or 6.35%. For the last week, the stock has had daily average volatility of 7.65%.
Our recommended stop-loss: ₹28.98 (-3.18%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (RASIELEC.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Rasi Electrodes Limited to open at ₹30.03, and during the day (based on 14 day Average True Range), to move between ₹27.82 and ₹32.04, which gives a possible trading interval of +/-₹2.11 (+/-7.06%) up or down from last closing price. If Rasi Electrodes Limited takes out the full calculated possible swing range there will be an estimated 14.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹29.41, some ₹0.520 (1.74%) from the current price of ₹29.93, our system finds the risk reward attractive.
Is Rasi Electrodes Limited stock A Buy?
Rasi Electrodes 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.345 Strong Buy Candidate Upgraded
Predicted Opening Price for Rasi Electrodes Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹30.03 ( 0.323%) | ₹29.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RASIELEC.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.88 | 6.50% |
| R2 | 31.17 | 4.14% |
| R1 | 30.73 | 2.68% |
| Price | 29.93 | |
| S1 | 29.32 | -2.04% |
| S2 | 28.88 | -3.50% |
| S3 | 28.18 | -5.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 29.93 | |
| S1 | 29.41 | -1.74% |
| S2 | 28.85 | -3.61% |
| S3 | 28.79 | -3.81% |
RASIELEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 14, 2016 | Sep 14, 2016 | Sep 14, 2016 | ₹0.100 | 1.31% |
| 2 | Sep 11, 2015 | Sep 11, 2015 | Sep 11, 2015 | ₹0.100 | 0.645% |
| 3 | Sep 16, 2013 | Sep 16, 2013 | Sep 16, 2013 | ₹0.100 | 1.75% |
| 4 | Sep 07, 2012 | Sep 07, 2012 | Sep 07, 2012 | ₹0.100 | 1.90% |
| 5 | Sep 13, 2011 | Sep 13, 2011 | Sep 13, 2011 | ₹0.100 | 2.15% |
FAQ
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