Regency Trust Limited Stock Forecast

Regency Trust Limited stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)

REGTRUS.BO Signals & Forecast

The Regency Trust 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 ₹3.52 and ₹3.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 40.00%. 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). Regency Trust Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Regency Trust Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹3.19 and ₹3.05. 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, Regency Trust Limited finds support just below today's level at ₹3.19. If this is broken, then the next support from accumulated volume will be at ₹3.05 and ₹2.89.

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 ₹0.140 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 1.60%.

The Regency Trust Limited stock is extremely overbought on RSI14 (91). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ₹3.52 (-3.18%) (This stock has high daily movements and this gives high risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (REGTRUS.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Regency Trust Limited to open at ₹3.59, and during the day (based on 14 day Average True Range), to move between ₹3.58 and ₹3.70, which gives a possible trading interval of +/-₹0.0635 (+/-1.74%) up or down from last closing price. If Regency Trust Limited takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹3.19, some ₹0.450 (12.36%) from the current price of ₹3.64, our system finds the risk reward attractive.

Is Regency Trust Limited stock A Buy?

Regency Trust Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Regency Trust Limited of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.