TCPL Packaging Limited Stock Forecast
TCPL Packaging Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The TCPL Packaging Limited stock price fell by -0.606% on the last day (Wednesday, 24th Apr 2024) from ₹2,111.40 to ₹2,098.60. During the last trading day the stock fluctuated 3.91% from a day low at ₹2,067.10 to a day high of ₹2,148.00. The price has fallen in 7 of the last 10 days and is down by -4.89% for this period. Volume has increased on the last day by 311 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately ₹9.27 million.
Given the current horizontal trend, you can expect TCPL Packaging Limited stock with a 90% probability to be traded between ₹2,095.26 and ₹2,457.54 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TCPLPACK.NS Signals & Forecast
There are few to no technical positive signals at the moment. The TCPL Packaging Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹2,139.19 and ₹2,232.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -14.81%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for TCPL Packaging Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₹80.90 (3.91%) between high and low. For the last week, the stock has had daily average volatility of 3.95%.
TCPL Packaging Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TCPLPACK.NS) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect TCPL Packaging Limited to open at ₹2,104.57, and during the day (based on 14 day Average True Range), to move between ₹2,017.41 and ₹2,179.79, which gives a possible trading interval of +/-₹81.19 (+/-3.87%) up or down from last closing price. If TCPL Packaging Limited takes out the full calculated possible swing range there will be an estimated 7.74% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹2,129.65, some ₹31.05 (1.48%) from the current price of ₹2,098.60, our system finds the risk reward not very attractive.
Is TCPL Packaging Limited stock A Buy?
TCPL Packaging Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Hold/Accumulate to a Sell candidate.
Current score: -3.420 Sell Candidate Downgraded
Predicted Opening Price for TCPL Packaging Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹2,104.57 ( 0.284%) | ₹2,098.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCPLPACK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,185.47 | 4.14 % | |
| R2 | 2,154.56 | 2.67 % | ||
| R1 | 2,135.47 | 1.76 % | ||
| Current price: | 2,098.60 | |||
| Support | S1 | 2,073.66 | -1.19 % | |
| S2 | 2,054.57 | -2.10 % | ||
| S3 | 2,023.67 | -3.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,337.70 | 11.39 % | |
| R2 | 2,335.75 | 11.30 % | ||
| R1 | 2,129.65 | 1.48 % | ||
| Current price | 2,098.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TCPLPACK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | ₹20.00 | 1.20% |
| 2 | Jul 27, 2023 | Jul 27, 2023 | Jul 27, 2023 | ₹20.00 | 1.19% |
| 3 | Aug 02, 2022 | Aug 02, 2022 | Aug 02, 2022 | ₹10.00 | 0.99% |
| 4 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹7.35 | 1.27% |
| 5 | Jun 12, 2020 | Jul 22, 2020 | Aug 04, 2020 | ₹4.00 | 1.37% |
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