Rexnord Electronics and Controls Limited Stock Forecast

Rexnord Electronics and Controls Limited stock downgraded to Sell Candidate
(Updated on Jun 26, 2024)

REXNORD.BO Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Rexnord Electronics and Controls 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 ₹140.66 and ₹141.59. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -12.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Rexnord Electronics and Controls Limited stock

Rexnord Electronics and Controls Limited finds support from accumulated volume at ₹133.65 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 ₹7.90 between high and low, or 5.85%. For the last week, the stock has had daily average volatility of 3.91%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (REXNORD.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Rexnord Electronics and Controls Limited to open at ₹139.17, and during the day (based on 14 day Average True Range), to move between ₹131.05 and ₹148.15, which gives a possible trading interval of +/-₹8.55 (+/-6.12%) up or down from last closing price. If Rexnord Electronics and Controls Limited takes out the full calculated possible swing range there will be an estimated 12.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹133.65 (4.26%) than the resistance at ₹150.65 (7.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Rexnord Electronics and Controls Limited stock A Buy?

The Rexnord Electronics and Controls Limited stock holds several negative signals and despite the positive trend, we believe Rexnord Electronics and Controls Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.487 Sell Candidate Downgraded

Predicted Opening Price for Rexnord Electronics and Controls Limited of Thursday, June 27, 2024

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