The Ruby Mills 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
The Ruby Mills Limited stock downgraded to Buy Candidate
(Updated on Jun 14, 2024)
The The Ruby Mills Limited stock price fell by -0.716% on the last day (Friday, 14th Jun 2024) from ₹216.55 to ₹215.00. During the last trading day the stock fluctuated 2.30% from a day low at ₹213.50 to a day high of ₹218.40. The price has been going up and down for this period, and there has been a 5.42% gain for the last 2 weeks. 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 -12 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹495.58 thousand.
The stock lies in the upper part of a wide and weak rising 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 ₹218.34 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.36% during the next 3 months and, with a 90% probability hold a price between ₹207.71 and ₹234.42 at the end of this 3-month period.
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RUBYMILLS.BO Signals & Forecast
The The Ruby Mills 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 ₹207.60 and ₹203.66. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 13, 2024, and so far it has fallen -0.716%. 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 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. The stock had a Golden Star Signal on Friday, June 07, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, June 07, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for The Ruby Mills Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹187.70 and ₹185.80. 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, The Ruby Mills Limited finds support just below today's level at ₹187.70. If this is broken, then the next support from accumulated volume will be at ₹185.80 and ₹182.95.
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 ₹4.90 between high and low, or 2.30%. For the last week the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: ₹206.50 (-3.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (RUBYMILLS.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect The Ruby Mills Limited to open at ₹215.63, and during the day (based on 14 day Average True Range), to move between ₹206.76 and ₹223.24, which gives a possible trading interval of +/-₹8.24 (+/-3.83%) up or down from last closing price. If The Ruby Mills Limited takes out the full calculated possible swing range there will be an estimated 7.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹216.55 (0.72%) than the support at ₹187.70 (12.70%), 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 The Ruby Mills 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 The Ruby Mills Limited stock to perform well in the short-term. 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 Buy candidate.
Current score: 1.780 Buy Candidate Downgraded
Predicted Opening Price for The Ruby Mills Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹215.63 ( 0.295%) | ₹215.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RUBYMILLS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 220.53 | 2.57% |
| R2 | 218.66 | 1.70% |
| R1 | 217.51 | 1.17% |
| Price | 215.00 | |
| S1 | 213.76 | -0.576% |
| S2 | 212.61 | -1.11% |
| S3 | 210.73 | -1.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 216.55 | 0.721% |
| Price | 215.00 | |
| S1 | 187.70 | -12.70% |
| S2 | 185.80 | -13.58% |
| S3 | 182.95 | -14.91% |
RUBYMILLS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2023 | Sep 20, 2023 | Oct 27, 2023 | ₹1.25 | 0.578% |
| 2 | Aug 24, 2022 | Aug 24, 2022 | Oct 23, 2022 | ₹3.00 | 1.32% |
| 3 | Mar 22, 2016 | Mar 22, 2016 | Mar 22, 2016 | ₹1.25 | 0.83% |
| 4 | Sep 16, 2015 | Sep 16, 2015 | Sep 16, 2015 | ₹2.50 | 2.68% |
| 5 | Sep 18, 2014 | Sep 18, 2014 | Sep 18, 2014 | ₹2.00 | 2.58% |
FAQ
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