RSWM Limited Stock Forecast

RSWM Limited stock downgraded from Strong Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Jun 26, 2024)

RSWM.NS 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 ₹196.44 and ₹185.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 24.25%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for RSWM Limited stock

RSWM Limited finds support from accumulated volume at ₹203.36 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 ₹10.36 between high and low, or 5.04%. For the last week, the stock has had daily average volatility of 4.99%.

The RSWM Limited stock is extremely overbought on RSI14 (88). 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. Since the RSWM Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: ₹203.66 (-3.24%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)

Trading Expectations (RSWM.NS) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect RSWM Limited to open at ₹210.54, and during the day (based on 14 day Average True Range), to move between ₹202.52 and ₹218.44, which gives a possible trading interval of +/-₹7.96 (+/-3.78%) up or down from last closing price. If RSWM Limited takes out the full calculated possible swing range there will be an estimated 7.56% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹203.36, some ₹7.12 (3.38%) from the current price of ₹210.48, our system finds the risk reward attractive.

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 Strong 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 RSWM Limited of Thursday, June 27, 2024

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