STAR HOUSING FINANCE LIMITED Stock Forecast
STAR HOUSING FINANCE LIMITED stock downgraded from Buy Candidate to Strong Sell Candidate after Thursday trading session.
(Updated on Jun 27, 2024)
The STAR HOUSING FINANCE LIMITED stock price fell by -2.48% on the last day (Thursday, 27th Jun 2024) from ₹56.56 to ₹55.16. During the last trading day the stock fluctuated 6.04% from a day low at ₹54.60 to a day high of ₹57.90. The price has fallen in 6 of the last 10 days and is down by -0.88% 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 -125 thousand shares and in total, 104 thousand shares were bought and sold for approximately ₹5.76 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.50% during the next 3 months and, with a 90% probability hold a price between ₹57.69 and ₹68.10 at the end of this 3-month period.
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STARHFL.BO Signals & Forecast
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. The STAR HOUSING FINANCE 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 ₹56.28 and ₹55.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, May 18, 2024, and so far it has fallen -6.49%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for STAR HOUSING FINANCE LIMITED stock
STAR HOUSING FINANCE LIMITED finds support from accumulated volume at ₹54.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹3.30 (6.04%) between high and low. For the last week, the stock has had daily average volatility of 6.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STARHFL.BO) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect STAR HOUSING FINANCE LIMITED to open at ₹55.89, and during the day (based on 14 day Average True Range), to move between ₹52.38 and ₹57.94, which gives a possible trading interval of +/-₹2.78 (+/-5.04%) up or down from last closing price. If STAR HOUSING FINANCE LIMITED takes out the full calculated possible swing range there will be an estimated 10.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹54.97 (0.34%) than the resistance at ₹55.43 (0.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is STAR HOUSING FINANCE LIMITED stock A Buy?
The STAR HOUSING FINANCE LIMITED stock holds several negative signals and despite the positive trend, we believe STAR HOUSING FINANCE LIMITED will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Strong Sell candidate.
Current score: -6.219 Strong Sell Candidate Downgraded
Predicted Opening Price for STAR HOUSING FINANCE LIMITED of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹55.89 ( 1.32%) | ₹55.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STARHFL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.19 | 7.30% |
| R2 | 57.93 | 5.01% |
| R1 | 57.15 | 3.60% |
| Price | 55.16 | |
| S1 | 54.63 | -0.97% |
| S2 | 53.85 | -2.38% |
| S3 | 52.59 | -4.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 55.99 | 1.50% |
| R2 | 55.68 | 0.94% |
| R1 | 55.43 | 0.489% |
| Price | 55.16 | |
| S1 | 54.97 | -0.344% |
| S2 | 54.75 | -0.743% |
| S3 | 54.66 | -0.91% |
STARHFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 03, 2023 | Aug 03, 2023 | Sep 09, 2023 | ₹0.0500 | 0% |
| 2 | Jul 07, 2022 | Jul 07, 2022 | Aug 15, 2022 | ₹0.0500 | 0% |
| 3 | Oct 15, 2020 | Oct 15, 2020 | Nov 23, 2020 | ₹0.0250 | 0% |
FAQ
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