RSWM Limited Stock Forecast
RSWM Limited stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The RSWM Limited stock price fell by -1.16% on the last day (Wednesday, 24th Apr 2024) from ₹194.50 to ₹192.25. During the last trading day the stock fluctuated 2.72% from a day low at ₹191.00 to a day high of ₹196.20. The price has fallen in 6 of the last 10 days and is down by -0.49% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹1.11 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹200.66 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -17.83% during the next 3 months and, with a 90% probability hold a price between ₹123.92 and ₹164.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RSWM.BO Signals & Forecast
The RSWM 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 ₹190.09 and ₹186.16. 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). 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 Tuesday, April 23, 2024, and so far it has fallen -1.16%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for RSWM Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹176.30 and ₹176.00. 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, RSWM Limited finds support just below today's level at ₹176.30. If this is broken, then the next support from accumulated volume will be at ₹176.00 and ₹169.90.
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 ₹5.20 between high and low, or 2.72%. For the last week the stock has had daily average volatility of 2.45%.
Our recommended stop-loss: ₹184.14 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (RSWM.BO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect RSWM Limited to open at ₹193.15, and during the day (based on 14 day Average True Range), to move between ₹185.03 and ₹199.47, which gives a possible trading interval of +/-₹7.22 (+/-3.75%) up or down from last closing price. If RSWM Limited takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹204.35 (6.29%) than the support at ₹176.30 (8.30%), 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 RSWM Limited stock A Buy?
RSWM 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: -0.019 Hold/Accumulate Downgraded
Predicted Opening Price for RSWM Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹193.15 ( 0.468%) | ₹192.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RSWM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 198.35 | 3.17 % | |
| R2 | 196.36 | 2.14 % | ||
| R1 | 195.14 | 1.50 % | ||
| Current price: | 192.25 | |||
| Support | S1 | 191.16 | -0.565 % | |
| S2 | 189.94 | -1.20 % | ||
| S3 | 187.95 | -2.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 238.85 | 24.24 % | |
| R2 | 232.35 | 20.86 % | ||
| R1 | 204.35 | 6.29 % | ||
| Current price | 192.25 | |||
| Support | S1 | 176.30 | -8.30% | |
| S2 | 176.00 | -8.45% | ||
| S3 | 169.90 | -11.63% |
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