REC Limited Stock Forecast
REC Limited stock price ended at ₹543.95 on Friday, after gaining 0.527%.
(Updated on May 17, 2024)
The REC Limited stock price gained 0.527% on the last trading day (Friday, 17th May 2024), rising from ₹541.10 to ₹543.95. It has now gained 6 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 1.55% from a day low at ₹539.30 to a day high of ₹547.65. The price has risen in 7 of the last 10 days but is still down by -2.48% for this period. Volume fell on the last day by -7 million shares and in total, 8 million shares were bought and sold for approximately ₹4.18 billion. 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 very 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 13.03% during the next 3 months and, with a 90% probability hold a price between ₹505.94 and ₹642.85 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RECLTD.NS Signals & Forecast
The REC 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 ₹525.59 and ₹479.28. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -2.48%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for REC Limited stock
REC Limited finds support from accumulated volume at ₹534.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹8.35 between high and low, or 1.55%. For the last week, the stock has had daily average volatility of 2.70%.
Since the REC Limited has been rising for 6 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: ₹524.17 (-3.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (RECLTD.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect REC Limited to open at ₹543.63, and during the day (based on 14 day Average True Range), to move between ₹523.33 and ₹564.57, which gives a possible trading interval of +/-₹20.62 (+/-3.79%) up or down from last closing price. If REC Limited takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹553.90 (1.83%) than the support at ₹534.00 (1.83%), 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 REC Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for REC Limited stock to perform well in the short-term.
Current score: 3.187 Buy Candidate Unchanged
Predicted Opening Price for REC Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹543.63 ( 0.0582%) | ₹543.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RECLTD.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 551.98 | 1.48 % | |
| R2 | 548.79 | 0.89 % | ||
| R1 | 546.82 | 0.528 % | ||
| Current price: | 543.95 | |||
| Support | S1 | 540.44 | -0.645 % | |
| S2 | 538.47 | -1.01 % | ||
| S3 | 535.28 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 557.80 | 2.55 % | ||
| R1 | 553.90 | 1.83 % | ||
| Current price | 543.95 | |||
| Support | S1 | 534.00 | -1.83% | |
| S2 | 516.60 | -5.03% | ||
| S3 | 507.15 | -6.77% |
RECLTD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 17, 2024 | ₹4.50 | 1.05% |
| 2 | Nov 13, 2023 | Nov 13, 2023 | Nov 13, 2023 | ₹0 | 0% |
| 3 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ₹4.35 | 2.71% |
| 4 | Feb 09, 2023 | Feb 09, 2023 | Feb 09, 2023 | ₹3.25 | 2.77% |
| 5 | Nov 07, 2022 | Nov 07, 2022 | Nov 07, 2022 | ₹5.00 | 4.92% |
FAQ
Click here for our free guide on how to buy REC Limited Stock.
