Royal Cushion Vinyl Products Limited Stock Forecast

Royal Cushion Vinyl Products Limited stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)

ROYALCU.BO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -2.31%. 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 also not. The Royal Cushion Vinyl Products 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 ₹37.88 and ₹33.24. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Royal Cushion Vinyl Products Limited stock

Royal Cushion Vinyl Products Limited finds support from accumulated volume at ₹38.46 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 periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.39%.

Our recommended stop-loss: ₹37.77 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 39 days ago.)

Trading Expectations (ROYALCU.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Royal Cushion Vinyl Products Limited to open at ₹39.39, and during the day (based on 14 day Average True Range), to move between ₹36.81 and ₹41.97, which gives a possible trading interval of +/-₹2.58 (+/-6.56%) up or down from last closing price. If Royal Cushion Vinyl Products Limited takes out the full calculated possible swing range there will be an estimated 13.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹40.32 (2.36%) than the support at ₹38.46 (2.36%), 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 Royal Cushion Vinyl Products 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 Royal Cushion Vinyl Products Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 4.060 Buy Candidate Upgraded

Predicted Opening Price for Royal Cushion Vinyl Products Limited of Monday, June 3, 2024

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