Techno Electric & Engineering Co Ltd Stock Forecast
Green day on Friday for Techno Electric & Engineering Co Ltd stock after gaining 0.414%
(Updated on Jun 21, 2024)
The Techno Electric & Engineering Co Ltd stock price gained 0.414% on the last trading day (Friday, 21st Jun 2024), rising from ₹1,435.85 to ₹1,441.80. During the last trading day the stock fluctuated 4.75% from a day low at ₹1,410.00 to a day high of ₹1,477.00. The price has risen in 7 of the last 10 days and is up by 15.08% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 16 thousand more shares were traded than the day before. In total, 86 thousand shares were bought and sold for approximately ₹124.17 million.
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 75.62% during the next 3 months and, with a 90% probability hold a price between ₹2,227.83 and ₹2,917.28 at the end of this 3-month period.
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TECHNOE.NS Signals & Forecast
The Techno Electric & Engineering Co Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹1,446.59. On a fall, the stock will find some support from the long-term average at approximately ₹1,212.22. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. 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 -4.11%. 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).
Support, Risk & Stop-loss for Techno Electric & Engineering Co Ltd stock
Techno Electric & Engineering Co Ltd finds support from accumulated volume at ₹1,418.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹67.00 between high and low, or 4.75%. For the last week, the stock has had daily average volatility of 5.01%.
Our recommended stop-loss: ₹1,382.34 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (TECHNOE.NS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Techno Electric & Engineering Company Limited to open at ₹1,442.93, and during the day (based on 14 day Average True Range), to move between ₹1,361.82 and ₹1,521.78, which gives a possible trading interval of +/-₹79.98 (+/-5.55%) up or down from last closing price. If Techno Electric & Engineering Company Limited takes out the full calculated possible swing range there will be an estimated 11.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,418.35 (1.63%) than the resistance at ₹1,465.95 (1.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Techno Electric & Engineering Company 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 Techno Electric & Engineering Co Ltd stock to perform well in the short-term.
Current score: 2.742 Buy Candidate Unchanged
Predicted Opening Price for Techno Electric & Engineering Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹1,442.93 ( 0.0786%) | ₹1,441.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TECHNOE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,509.93 | 4.73% |
| R2 | 1,484.34 | 2.95% |
| R1 | 1,468.53 | 1.85% |
| Price | 1,441.80 | |
| S1 | 1,417.34 | -1.70% |
| S2 | 1,401.53 | -2.79% |
| S3 | 1,375.93 | -4.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,503.55 | 4.28% |
| R2 | 1,497.30 | 3.85% |
| R1 | 1,465.95 | 1.67% |
| Price | 1,441.80 | |
| S1 | 1,418.35 | -1.63% |
| S2 | 1,223.25 | -15.16% |
| S3 | 1,208.90 | -16.15% |
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 | Sep 15, 2022 | ₹2.00 | 0.697% |
| 3 | Sep 20, 2021 | Sep 20, 2021 | Sep 20, 2021 | ₹4.00 | 1.46% |
| 4 | Sep 15, 2021 | Sep 15, 2021 | Sep 15, 2021 | ₹4.00 | 1.40% |
| 5 | Feb 24, 2021 | Feb 24, 2021 | Feb 24, 2021 | ₹3.00 | 1.10% |
FAQ
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