Techno Electric & Engineering 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
Techno Electric & Engineering stock price up 3.08% on Tuesday
(Updated on Jun 18, 2024)
The Techno Electric & Engineering stock price gained 3.08% on the last trading day (Tuesday, 18th Jun 2024), rising from ₹1,455.00 to ₹1,499.85. During the last trading day the stock fluctuated 3.23% from a day low at ₹1,479.90 to a day high of ₹1,527.75. The price has risen in 6 of the last 10 days but is still down by -0.1% for this period. Volume fell on the last day by -14 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₹14.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very 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 80.79% during the next 3 months and, with a 90% probability hold a price between ₹2,244.82 and ₹2,945.38 at the end of this 3-month period.
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TECHNOE.BO Signals & Forecast
The Techno Electric & Engineering 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 ₹1,380.29 and ₹1,172.44. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Monday, June 03, 2024, and so far it has fallen -0.103%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Techno Electric & Engineering stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹1,206.55 and ₹1,160.85. 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, Techno Electric & Engineering finds support just below today's level at ₹1,206.55. If this is broken, then the next support from accumulated volume will be at ₹1,160.85 and ₹1,144.25.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹47.85 between high and low, or 3.23%. For the last week, the stock has had daily average volatility of 5.44%.
Our recommended stop-loss: ₹1,453.50 (-3.09%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (TECHNOE.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Techno Electric & Engineering to open at ₹1,502.50, and during the day (based on 14 day Average True Range), to move between ₹1,414.36 and ₹1,585.34, which gives a possible trading interval of +/-₹85.49 (+/-5.70%) up or down from last closing price. If Techno Electric & Engineering takes out the full calculated possible swing range there will be an estimated 11.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,501.40 (0.10%) than the support at ₹1,206.55 (19.56%), 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 Techno Electric & Engineering 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 Techno Electric & Engineering stock to perform well in the short-term.
Current score: 4.208 Buy Candidate Unchanged
Predicted Opening Price for Techno Electric & Engineering of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹1,502.50 ( 0.177%) | ₹1,499.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TECHNOE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,550.35 | 3.37% |
| R2 | 1,532.07 | 2.15% |
| R1 | 1,520.78 | 1.40% |
| Price | 1,499.85 | |
| S1 | 1,484.22 | -1.04% |
| S2 | 1,472.93 | -1.79% |
| S3 | 1,454.65 | -3.01% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 1,501.40 | 0.103% |
| Price | 1,499.85 | |
| S1 | 1,206.55 | -19.56% |
| S2 | 1,160.85 | -22.60% |
| S3 | 1,144.25 | -23.71% |
TECHNOE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2023 | Sep 15, 2023 | Oct 26, 2023 | ₹6.00 | 1.20% |
| 2 | Sep 15, 2022 | Sep 15, 2022 | Oct 26, 2022 | ₹2.00 | 0.714% |
FAQ
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