Roopa Industries 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
Green day on Friday for Roopa Industries Limited stock after gaining 0.376%
(Updated on May 17, 2024)
The Roopa Industries Limited stock price gained 0.376% on the last trading day (Friday, 17th May 2024), rising from ₹58.47 to ₹58.69. During the last trading day the stock fluctuated 5.17% from a day low at ₹56.05 to a day high of ₹58.95. The price has risen in 6 of the last 10 days and is up by 1.22% over the past 2 weeks. Volume fell on the last day by -26 shares and in total, 1 thousand shares were bought and sold for approximately ₹78.88 thousand. 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Roopa Industries Limited stock with a 90% probability to be traded between ₹51.80 and ₹64.67 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ROOPAIND.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Roopa Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹59.23 and ₹58.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -7.08%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Roopa Industries Limited stock
Roopa Industries Limited finds support from accumulated volume at ₹58.03 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹2.90 between high and low, or 5.17%. For the last week the stock has had daily average volatility of 3.23%.
Our recommended stop-loss: ₹55.89 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ROOPAIND.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Roopa Industries Limited to open at ₹57.90, and during the day (based on 14 day Average True Range), to move between ₹55.01 and ₹62.37, which gives a possible trading interval of +/-₹3.68 (+/-6.26%) up or down from last closing price. If Roopa Industries Limited takes out the full calculated possible swing range there will be an estimated 12.53% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹58.03 (1.12%) than the resistance at ₹59.98 (2.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Roopa Industries Limited stock A Buy?
Roopa Industries Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.351 Hold/Accumulate Unchanged
Predicted Opening Price for Roopa Industries Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹57.90 ( 1.35%) | ₹58.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ROOPAIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 60.80 | 3.59 % | |
| R2 | 59.69 | 1.70 % | ||
| R1 | 59.00 | 0.536 % | ||
| Current price: | 58.69 | |||
| Support | S1 | 56.79 | -3.24 % | |
| S2 | 56.10 | -4.41 % | ||
| S3 | 55.00 | -6.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 62.01 | 5.66 % | |
| R2 | 60.00 | 2.23 % | ||
| R1 | 59.98 | 2.20 % | ||
| Current price | 58.69 | |||
| Support | S1 | 58.03 | -1.12% | |
| S2 | 58.01 | -1.16% | ||
| S3 | 49.91 | -14.96% |
FAQ
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